Completion of Arrangement with Torex Gold
Prime Mining Corp. (TSX: PRYM) (OTCQX: PRMNF) has officially completed its arrangement with Torex Gold Resources Inc. This strategic move outlines a significant milestone for Prime Mining as Torex acquires all outstanding shares of the Company. This development marks a new chapter in Prime Mining's journey, uniting two key players in the mining sector.
Details of the Shareholder Agreement
Under the terms of this arrangement, shareholders of Prime have the exciting opportunity to receive a common share of Torex for every 0.060 Prime Share they hold. This was seen as beneficial for the shareholders as they now engage with a more established company with substantial resources.
Delisting from Major Exchanges
With this transition, Prime Shares are set to be delisted from the Toronto Stock Exchange, the OTCQX, and the Frankfurt Stock Exchange. The delisting signifies a consolidation of resources and will allow shareholders to focus on their participation in Torex, which has a prominent standing in the industry.
What to Expect Next
For shareholders looking to claim their consideration, it is essential to refer to Prime’s management information circular for instructions on how to proceed. Registered shareholders will need to complete the necessary documentation and return their share certificates or the applicable DRS Advice to Computershare Investor Services Inc.
Prime Mining's Future Prospects
Prime Mining operates with a talented roster of mining executives seasoned in capital markets. The company is determined to unlock the potential of the Los Reyes Project and to leverage the benefits that come with this arrangement, fostering a promising outlook in an ever-evolving mining landscape.
Contact Information for Shareholders
If shareholders have questions regarding the arrangement, they are encouraged to reach out to the Depositary for assistance. Telephone support is available for both domestic and international inquiries, ensuring that every shareholder can access the information they need.
Frequently Asked Questions
What is the arrangement between Prime Mining and Torex Gold?
The arrangement involves Torex acquiring all outstanding shares of Prime Mining, offering shareholders shares of Torex in exchange.
How much will shareholders receive from the arrangement?
Shareholders will receive 0.060 of a common share of Torex for each Prime Share they own.
Will Prime Mining continue to trade on stock exchanges?
No, Prime Mining shares will be delisted from the Toronto Stock Exchange, OTCQX, and Frankfurt Stock Exchange post-arrangement.
What should shareholders do next?
Shareholders should consult the management information circular and follow the instructions for claiming their shares from Torex.
How can shareholders contact the Depositary?
Shareholders can contact the Depositary by phone or email provided in the announcement for any queries about the arrangement.
