16:01:57 EDT Thu 28 Mar 2024
Enter Symbol
or Name
USA
CA



Great Panther Silver Ltd
Symbol GPR
Shares Issued 139,573,707
Close 2015-05-21 C$ 0.68
Market Cap C$ 94,910,121
Recent Sedar Documents

Cangold shareholders OK acquisition by Great Panther

2015-05-22 17:22 ET - News Release

See News Release (C-CLD) Cangold Ltd (2)

Mr. Kaare Foy of Cangold reports

CANGOLD SHAREHOLDERS APPROVE ACQUISITION OF CANGOLD BY GREAT PANTHER

The plan of arrangement pursuant to which Great Panther Silver Ltd. will acquire all of the issued and outstanding common shares of Cangold Ltd. was approved by Cangold shareholders at the special meeting of Cangold shareholders held on May 22, 2015. At the meeting, approximately 99.44 per cent of the votes cast by Cangold shareholders were voted in favour of the arrangement.

The arrangement

The arrangement is being proposed under, and is subject to the terms and conditions of, an arrangement agreement dated April 10, 2015, between the company and Great Panther. Assuming the arrangement becomes effective, holders of Cangold shares will receive 0.05 of a common share of Great Panther for each Cangold share held. In addition, each outstanding option and warrant to acquire Cangold shares will entitle the holder thereof to receive, upon the exercise thereof, 0.05 Great Panther share in lieu of each Cangold share, at a price adjusted in accordance with the exchange ratio, and otherwise on the same terms and conditions as the original option or warrant. Cangold is seeking a final order of the Supreme Court of British Columbia to approve the arrangement at a hearing expected to be held on May 26, 2015. In addition to the approval of the court, the arrangement is subject to the satisfaction of other closing conditions customary in a transaction of this nature. It is currently expected that, subject to receipt of all approvals, the transaction will close on or about May 27, 2015.

Full details of the arrangement and certain other matters are set out in the management information circular of Cangold dated April 20, 2015. A copy of the information circular and other meeting materials can be found under Cangold's profile on SEDAR.

We seek Safe Harbor.

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