Business
SSR Mining and Alacer Gold Announce Filing of Joint Management Information Circular and Receipt of Interim Order in Connection with Proposed Merger
VANCOUVER, BC and TORONTO, June 9, 2020 /PRNewswire/ - SSR Mining Inc. (NASDAQ: SSRM) (TSX: SSRM) ("SSR Mining") and Alacer Gold Corp. (TSX: ASR) (ASX: AQG)
About this update from Ssr Mining Inc.
[{"type":"text","content":"VANCOUVER, BC and TORONTO, June 9, 2020 /PRNewswire/ - SSR Mining Inc. (NASDAQ: SSRM) (TSX: SSRM) (\"SSR Mining\") and Alacer Gold Corp. (TSX: ASR) (ASX: AQG) (\"Alacer\") are pleased to announce today that they have filed a joint management information circular and related meeting materials (the \"Meeting Materials\") in connection with their respective special meetings of shareholders (the \"Meetings\") to be held on July 10, 2020. The purpose of the Meetings is to seek approval for a number of matters in connection with their previously announced at-market merger of equals pursuant to a plan of arrangement under the Business Corporations Act (Yukon) (the \"Transaction\").\nIn addition, SSR Mining and Alacer are pleased to announce the receipt of an interim order from the Supreme Court of Yukon obtained on June 2, 2020 in connection with the Transaction.\nThe Transaction\nPursuant to the Transaction, shareholders of Alacer (the \"Alacer Shareholders\") will receive 0.3246 SSR Mining shares for each Alacer share held. The Transaction will require the approval of at least 66-2/3% of the votes cast by the Alacer Shareholders at its special meeting (the \"Alacer Meeting\"). The issuance of shares by SSR Mining under the Agreement is subject to the approval of the majority of votes cast by the shareholders of SSR Mining (the \"SSR Shareholders\") at its special meeting (the \"SSR Meeting\"). Completion of the Transaction is also subject to regulatory and court approvals and other customary closing conditions. \nBenefits Of The Transaction\nThe Transaction is expected to provide SSR Mining Shareholders and Alacer Shareholders with the following benefits, amongst others:\nDiversified portfolio of high quality, long life operating assets across four jurisdictions; Management with expertise in open pit, underground, pressure oxidation, heap leach, and flotation operations; Peer leading pro forma free cash flow profile; Strong balance sheet to support growth pipeline and facilitate capital returns evaluation;Attractive growth portfolio of low capital intensity greenfield and brownfield opportunities; andEnhanced trading liquidity across multiple global exchanges to drive capital markets presence and investor relevance.Additional details with respect to the potential benefits and risks of the Transaction are described in the Meeting Mate...