Rockridge Resources Approves Merger with Eros and MAS Gold

Rockridge Resources' Shareholders Approve Historic Merger

Rockridge Resources Ltd. (TSX-V: ROCK) is thrilled to share the positive outcome of its Annual General and Special Meeting of Shareholders, where the key proposal was to approve a three-way business combination with Eros Resources and MAS Gold. This groundbreaking decision will significantly reshape the future of Rockridge, positioning it strategically in the mining sector.

Voting Results and Support from Shareholders

The shareholder meeting, which took place recently, saw an impressive turnout with 51,050,981 common shares represented, amounting to approximately 41% of the total outstanding common shares of Rockridge. Every proposed measure received strong backing, culminating in a unified vote in favor of the merger transaction—an outcome that reflects the shareholders’ commitment and optimism about the company's future.

Details of the Merger Transaction

Under the terms of the merger, Eros Resources will acquire Rockridge, along with all outstanding shares of MAS Gold that are not already owned by Eros. This will be executed through a plan of arrangement in accordance with the Business Corporations Act of British Columbia. This strategic merger is anticipated to offer exciting prospects as Rockridge will now transition into a pure-play gold and copper exploration company, focusing primarily on opportunities within the La Ronge gold belt in Saskatchewan.

Board Appointments and Future Strategy

At the meeting, notable appointments were made to the board of directors for the newly formed entity. Jonathan Wiesblatt, Jordan Trimble, Joseph Gallucci, Tim Termuende, and Ross McElroy will guide the governance of the combined organization over the next year. Alongside the board appointments, shareholders endorsed Davidson and Company LLP as the auditing firm for the upcoming fiscal period, thereby ensuring continued operational transparency and integrity.

Leadership Insights on the Merger

Jon Wiesblatt, CEO of Rockridge, expressed his enthusiasm for the merger, stating, “This is a monumental day for Rockridge and its shareholders.” He went on to highlight that the union with Eros and MAS Gold will enable the company to operate with a robust portfolio of six prospective exploration projects, promising to unlock the latent value for shareholders and stakeholders alike.

Advantages for Shareholders of Rockridge, Eros, and MAS Gold

The merger is set to provide a favorable exchange ratio where Rockridge shareholders will receive 0.375 common shares of Eros for each Rockridge share held, while MAS Gold shareholders will get 0.25 Eros Shares for each MAS Gold share held. This new structure positions the shareholders of Eros as owning approximately 42.37% of the merged company, while MAS Gold shareholders will own around 37.33% and Rockridge shareholders will hold about 20.30%.

Looking Forward to a Promising Future

Jordan Trimble, President of Rockridge, shared his excitement regarding the merger's approval. He remarked on the strategic advantages the company will gain in capitalizing on rising gold and copper market trends, positioning Rockridge for a compelling exploration initiative in the months to come, aimed at maximizing shareholder value through robust exploration efforts.

Next Steps and Court Approval

As part of the merger approval process, Eros Resources and MAS Gold have confirmed that the necessary shareholder approvals were met at their respective meetings. The companies are now set to seek final court approval from the Supreme Court of British Columbia. The anticipated closing of this transformative transaction is expected to occur around mid-January, provided all customary conditions are successfully met.

About Rockridge Resources Ltd.

Rockridge Resources Ltd. stands out as a dynamic mineral exploration company focused on the acquisition and development of gold and copper resources across Canada. Particularly notable is their Knife Lake Project, recognized as a promising copper and gold resource located in Saskatchewan, one of the world’s leading mining jurisdictions.

Moreover, the company’s high-grade Raney Gold Project expands its gold exploration portfolio within a region renowned for its prolific mining history, hosting iconic camps such as Timmins and Kirkland Lake.

Frequently Asked Questions

What approvals were necessary for the merger?

Both Rockridge Resources shareholders and those of Eros Resources and MAS Gold needed to approve the merger, which has been successfully achieved.

What advantages does the merger bring to shareholders?

The merger provides shareholders with an opportunity to benefit from a larger, more financially stable entity with extensive exploration potential in strategically located projects.

Who were elected to the board of directors?

Jonathan Wiesblatt, Jordan Trimble, Joseph Gallucci, Tim Termuende, and Ross McElroy were elected to lead the new board.

What is the expected timeline for the merger completion?

The merger is anticipated to be finalized by mid-January, pending court approval and satisfaction of customary closing conditions.

Where can more information about Rockridge Resources be found?

More details are available on Rockridge's official website, where updates on projects and corporate strategies are regularly posted.

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