15:12:10 EDT Fri 19 Apr 2024
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Gold X gets more shareholder support for merger

2020-05-13 18:20 ET - News Release

See News Release (C-GLDX) Gold X Mining Corp

An anonymous director reports

GOLD X ANNOUNCES INCREASE IN SHAREHOLDER SUPPORT FOR MERGER WITH GRAN COLOMBIA AND GUYANA GOLDFIELDS

Certain shareholders of Gold X Mining Corp., who collectively hold 2,897,225 shares or 7.62 per cent of Gold X's issued common shares, have entered into voting support agreements in favour of the business combination with Gran Colombia Gold Corp.

When added to the previously announced voting support agreements entered into by directors, officers and shareholders of Gold X, the aggregate number of common shares for which voting support agreements have been signed is 8,785,015 common shares or 23.1 per cent of Gold X's issued common shares. As a result, including the common shares held by Gran Colombia, 42.33 per cent of Gold X's issued common shares will vote in favour of the Gold X transaction, and, in respect of the required majority of the minority vote (which excludes the votes cast in favour of the Gold X transaction by Gran Colombia), 28.6 per cent of shares eligible for that vote will vote in favour of the Gold X transaction.

About Gold X Mining Corp.

Gold X Mining is a Canadian junior mining company developing the Toroparu gold project in Guyana, South America. Gold X has spent more than $150-million (U.S.) on the project to date to both classify 7.35 million ounces of measured and indicated, and 3.15 million ounces of inferred gold resources, develop engineering studies for use in a feasibility study, and define a number of exploration targets around Toroparu on its 100-per-cent-owned Upper Puruni concession.

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