Aura's Bluestone Acquisition Receives Shareholder Approval

Aura's Strategic Acquisition of Bluestone Resources

Following the latest announcements, Aura Minerals Inc. (TSX: ORA) is excited to announce that its acquisition of Bluestone Resources Inc. has received the green light from Bluestone's securityholders. This pivotal approval builds on prior updates indicating the potential for a more integrated and robust operational structure.

Details of the Securityholder Meeting

During a special meeting convened for Bluestone’s securityholders, the resolution to approve the acquisition garnered overwhelming support. Specifically, 99.48% of those present or represented by proxy cast favorable votes in favor of the transaction. This overwhelming majority underscores robust shareholder confidence and a shared vision for the future of the combined companies.

Understanding the Transaction Mechanics

As part of the acquisition plan, Bluestone shareholders had options regarding their compensation. Shareholders could opt to receive either C$0.287 in cash for each share or 0.0183 common shares of Aura for each Bluestone share held, subject to certain caps and proration. This thoughtful arrangement is designed to provide flexibility and maximize value for these stakeholders.

Contingent Consideration Explained

In addition to the initial consideration, Bluestone shareholders will receive contingent value rights. These rights could offer a cash payment of up to C$0.2120 per share over three equal annual installments, contingent on the successful commercial operation of the Cerro Blanco project.

The Path Forward and Next Steps

For the transaction to proceed, it requires approval from the Supreme Court of British Columbia. The court is anticipated to issue its Final Order, paving the way for the deal's completion, which is expected around January. This aligns with Aura's strategic timeline, as they actively work to integrate Bluestone into their operations.

About Bluestone Resources

Bluestone Resources is well-regarded in the precious metals sector, concentrating its efforts in Guatemala with a focus on the Cerro Blanco gold project. This project represents a significant opportunity for growth within the region, highlighting Bluestone's commitment to developing its resources effectively and sustainably.

About Aura's Holistic Mining Approach

Aura Minerals pursues a 360° Mining philosophy, where the impacts and benefits of its projects are carefully considered across all stakeholders, including shareholders, employees, and the communities involved. Currently, Aura operates multiple mines in the Americas, which include notable assets across Mexico, Brazil, and Honduras, showcasing its extensive operational footprint.

Exploration and Growth Potential

In addition to operational projects, Aura holds a vast mineral rights portfolio encompassing over 650,000 hectares. This positions the company strategically for future exploration activities, demonstrating its ambition to expand both its reserves and value offering to investors.

Frequently Asked Questions

What was the main outcome of the special meeting?

The special meeting concluded with a significant majority of Bluestone's shareholders approving the acquisition by Aura Minerals.

What are the key components of the acquisition?

Bluestone shareholders can choose to receive cash or Aura shares, along with possible future cash payments based on project milestones.

Why is the acquisition important for Aura?

It strengthens Aura's position in the mining sector and expands its asset portfolio significantly, leveraging growth opportunities.

What is the Cerro Blanco project?

The Cerro Blanco project is a pivotal gold development project in Guatemala, key to Bluestone's growth strategy.

What does Aura's 360° Mining philosophy entail?

It emphasizes holistic consideration of the company's impact on stakeholders, ensuring balanced benefits from its operations.

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