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Wallbridge Announces Balmoral Securityholder Approval of Arrangement
Wallbridge Announces Balmoral Securityholder Approval of Arrangement Canada NewsWi...
About this update from Wallbridge Mining Co. Ltd.
[{"type":"text","content":"\n\n\n\nWallbridge Announces Balmoral Securityholder Approval of Arrangement\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\n\nCanada NewsWire\nTORONTO, May 8, 2020\n\n\n\nTORONTO, May 8, 2020 /CNW/ - Wallbridge Mining Company Limited (TSX:WM, FWB: WC7) (\"Wallbridge\" or the \"Company\")  is pleased to announce that at a special meeting of Balmoral Resources Ltd. (\"Balmoral\") (TSX: BAR)  securityholders held on May 7, 2020 (the \"Meeting\"), Balmoral securityholders voted overwhelmingly in favour of the resolution (the \"Arrangement Resolution\") approving the acquisition of Balmoral by Wallbridge by way of a plan of arrangement (the \"Arrangement\") as previously disclosed by Wallbridge and Balmoral.\n\n \n \n \n \n \n \n\n \nIn total 99.4% of the Balmoral securityholders who cast ballots voted to approve the Arrangement. Under the terms of the Arrangement, Wallbridge will, among other things, acquire all of the issued and outstanding shares of Balmoral, with Balmoral securityholders receiving 0.71 of a common share of Wallbridge for each issued and outstanding common share of Balmoral currently held. The report of voting results will be made available under Balmoral's profile on SEDAR at www.sedar.com.\n\"The overwhelming support of the Arrangement by Balmoral securityholders is a tremendous endorsement of the strength of our to-be combined companies,\" said Marz Kord, CEO of Wallbridge. \"We would like to thank the Balmoral securityholders for their approval of this transaction. Wallbridge's Management team is excited about the future and confident the Company is extremely well positioned to deliver meaningful value to all Wallbridge securityholders.\"\nAbout Wallbridge Mining\nThe Company is currently developing its 100%-owned Fenelon Gold Property, which is located proximal to the Sunday Lake Deformation Zone, in an emerging gold belt in northwestern Quebec with ongoing 100,000 to 120,000 metre exploration drill program in 2020 and a 33,500-tonne bulk sample and 75,000 metres of drilling completed in 2019. Wallbridge is also pursuing additiona...