Prime Mining's Securityholders Greenlight Major Acquisition Deal
Prime Mining's Securityholders Approve Strategic Arrangement
VANCOUVER, British Columbia — Prime Mining Corp. (“Prime” or the “Company”) (TSX: PRYM) (OTCQX: PRMNF) (Frankfurt: O4V3) excitedly announces that a significant milestone has been reached with the approval of the arrangement plan with Torex Gold Resources Inc. (“Torex”). This pivotal moment allows Torex to acquire all the issued and outstanding common shares of Prime, also referred to as the “Prime Shares.” The decision was made during a special meeting held for securityholders.
Details of the Approval Process
The special resolution concerning the arrangement received overwhelming support from the shareholders. A remarkable 99.991% of votes cast by the Company's shareholders and option holders were in favor, showcasing a strong endorsement for this significant move. Furthermore, the unanimous approval under regulatory guidelines illustrates the support and optimism surrounding the future of Prime Mining.
Implications for Stakeholders
Shareholders of Torex are not required to partake in the voting process regarding this arrangement, streamlining the transition. Anticipated to close in Q4 2025, the finalization of this arrangement hinges on securing regulatory approvals and fulfilling customary conditions typical of such transactions.
Looking Ahead: Expectations for the Arrangement
As this arrangement unfolds, both companies are committed to ensuring compliance with all regulatory requirements, including those from the TSX and relevant Mexican antitrust authorities. The enthusiasm surrounding this venture reflects confidence in the strategic alignment between Prime and Torex, promising potential benefits for both shareholders and employees.
About Prime Mining
Prime is steered by a diverse team of mining executives, experienced local operators, and adept capital markets professionals. Their focus is set on unlocking the full potential of the Los Reyes Project, which holds promising opportunities within the mining sector. With a robust capital structure and dedicated management, the Company is poised for future success.
Contacting Prime Mining
For inquiries related to the Company or this arrangement, please reach out to:
Scott Hicks
CEO & Director
Indi Gopinathan
VP Capital Markets & Business Development
Prime Mining Corp.
710 – 1030 West Georgia St.
Vancouver, BC V6E 2Y3 Canada
Phone: +1(604) 238-1659
Email: info@primeminingcorp.ca
Frequently Asked Questions
What is the significance of the arrangement with Torex Gold?
The arrangement presents an opportunity for Torex to expand its operations and for Prime to benefit from enhanced resources and expertise.
When is the anticipated closing date of the arrangement?
The arrangement is expected to close in Q4 2025, pending regulatory approvals and customary closing conditions.
Do shareholders of Torex need to vote on the arrangement?
No, Torex shareholders do not need to vote as their approval is not required for this transaction.
How will this arrangement impact Prime Mining's future?
This arrangement is expected to provide strategic growth opportunities, improving Prime's market position and operational potential.
Who can be contacted for more information about Prime Mining?
For further information, contact Scott Hicks, CEO & Director, or Indi Gopinathan, VP of Capital Markets & Business Development at Prime Mining.
About The Author
Contact Thomas Cooper privately here. Or send an email with ATTN: Thomas Cooper as the subject to contact@investorshangout.com.
About Investors Hangout
Investors Hangout is a leading online stock forum for financial discussion and learning, offering a wide range of free tools and resources. It draws in traders of all levels, who exchange market knowledge, investigate trading tactics, and keep an eye on industry developments in real time. Featuring financial articles, stock message boards, quotes, charts, company profiles, and live news updates. Through cooperative learning and a wealth of informational resources, it helps users from novices creating their first portfolios to experts honing their techniques. Join Investors Hangout today: https://investorshangout.com/
The content of this article is based on factual, publicly available information and does not represent legal, financial, or investment advice. Investors Hangout does not offer financial advice, and the author is not a licensed financial advisor. Consult a qualified advisor before making any financial or investment decisions based on this article. This article should not be considered advice to purchase, sell, or hold any securities or other investments. If any of the material provided here is inaccurate, please contact us for corrections.