Bluestone Resources Gains Approval for Major Transaction Transformation

Bluestone Secures Securityholder Green Light for Aura Minerals Acquisition

Bluestone Resources Inc. is pleased to announce that its securityholders have given the thumbs up for the acquisition by Aura Minerals Inc. This favorable decision was confirmed during a special meeting held recently. The overwhelming support from securityholders highlights the confidence in this strategic move.

Voting Outcomes Reflect Strong Support

The approval of the acquisition was remarkable, with 99.48% of the votes cast by Bluestone's shareholders supporting the transaction. Such overwhelming backing shows a united front from those invested in Bluestone's future. Furthermore, 99.54% of the votes from both shareholders and optionholders were cast in favor of the arrangement.

Details of the Agreement

The agreement opens doors for Bluestone shareholders to select between cash or shares in Aura as part of the plan. This gives flexibility to shareholders, allowing them to opt for CA$0.287 in cash for each Bluestone share or receive 0.0183 Aura common shares. This initial consideration can also be a mix of both options, creating a balanced approach that caters to diverse investor preferences.

Contingent Consideration for Shareholders

In addition to the initial considerations, shareholders have the opportunity for contingent value rights regarding future cash payments. This could result in an additional CA$0.2120 per Bluestone share, provided that the Cerro Blanco project achieves commercial production—a promising avenue for long-term growth.

Important Steps Ahead

Bluestone has outlined the necessary steps for shareholders to exchange their shares, as detailed in the management information circular. Shareholders must follow the guidance provided carefully to ensure a smooth transition in the agreement process.

The Role of the Supreme Court

For the arrangement to move forward, it still requires a final order from the Supreme Court of British Columbia. An interim order has already been granted, allowing for the meeting to take place. Now, Bluestone is preparing for the final court application, which is set for early January.

How Shareholders Can Participate

It is critical for any Bluestone securityholder or interested entity to officially express their intent to participate in the upcoming court hearing. This involves filing a Response to the Petition in accordance with the established civil rules, ensuring their voice is heard in this significant transition.

About Bluestone Resources

Bluestone Resources is a Canadian exploration and development company, chiefly focused on precious metals. With the Cerro Blanco gold project representing its flagship asset in Guatemala, Bluestone is dedicated to advancing mining opportunities while demonstrating strong environmental and social governance.

Frequently Asked Questions

What transaction was approved by Bluestone shareholders?

Bluestone shareholders approved the acquisition by Aura Minerals Inc. through a plan of arrangement.

What were the voting results at the special meeting?

The transaction received overwhelming support, with 99.48% of votes cast in favor from shareholders.

What options do shareholders have regarding their shares?

Shareholders can choose to receive cash, Aura shares, or a combination of both based on their preference in the arrangement.

What contingent benefits are available for Bluestone shareholders?

Shareholders may receive contingent value rights, providing potential future cash payments contingent on Cerro Blanco's production milestones.

What is the next step for the arrangement?

The arrangement is subject to approval by the Supreme Court of British Columbia, with a final order application scheduled in early January.

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