Mr. Matt Manson reports
STORNOWAY ENTERS INTO VOTING AGREEMENT WITH A SIGNIFICANT SHAREHOLDER IN
SUPPORT OF COMPREHENSIVE FINANCING PLAN
Stornoway Diamond Corp. has entered into a voting support agreement with Agnico Eagle Mines Ltd. pursuant to which Agnico Eagle has agreed to vote all of the common shares of Stornoway it owns in favour of the financing transactions announced by Stornoway on April 9, 2014. Agnico Eagle currently owns 14,752,244 common shares of Stornoway, representing approximately 9.7 per cent of the outstanding common shares and approximately 8.4 per cent of the outstanding common shares and non-voting convertible shares of Stornoway.
Stornoway intends to convene a special meeting of shareholders to be held around the end of May, 2014, to submit to shareholders for consideration and approval various elements of the proposed financing transactions in accordance with applicable regulatory and TSX requirements. Stornoway expects to mail a management information circular describing the various financing elements contemplated by the financing agreement entered into with Orion Co-Investments I Ltd., Ressources Quebec, a wholly owned subsidiary of Investissement Quebec, and the Caisse de depot et placement du Quebec in early May, 2014. Under the terms of the financing agreement, CDPQ has also agreed to vote the common shares it beneficially owns or controls in Stornoway in favour of the financing transactions. As at Dec. 31, 2013 CDPQ beneficially owned 11,410,375 common shares of Stornoway, representing approximately 7.5 per cent of the outstanding common shares and approximately 6.5 per cent of the outstanding common shares and non-voting convertible shares of Stornoway.
We seek Safe Harbor.
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