Mr. James Bannantine
GREAT PANTHER SILVER SHAREHOLDERS APPROVE ACQUISITION OF BEADELL RESOURCES AND NAME CHANGE
Great Panther Silver Ltd. has released the results of its special meeting of shareholders held earlier on Feb. 11, 2019, for the approval of the scheme resolution and the name change resolution in connection with the scheme implementation deed pursuant to which Great Panther will acquire Beadell Resources Ltd. and change its name to Great Panther Mining Ltd.
"We would like to thank our shareholders for overwhelmingly approving the acquisition and for their continued support," stated James Bannantine, president and chief executive officer of Great Panther. "The acquisition of Beadell is transformational for Great Panther, resulting in the creation of a new growth-oriented intermediate precious metals producer with a strong balance sheet and diverse asset portfolio, including three producing mines, an advanced stage project and significant exploration potential."
Both the scheme resolution and the name change resolution were approved by shareholders present or represented by proxy. The attached table provides the voting results for each of the resolutions.
Resolution Votes for % for votes Against % against
Scheme resolution 37,738,643 96.71% 1,284,529 3.29%
Name change resolution 37,707,315 96.63% 1,315,857 3.37%
Beadell shareholders will meet later today in Perth (10 a.m. AWST) to vote on the acquisition. Should Beadell shareholders vote in favour, the acquisition is expected to close the first week of March, following satisfaction of customary closing conditions and receipt of regulatory approvals.
The name change to Great Panther Mining will become effective upon closing of the acquisition. The common shares of the company will continue to trade on the Toronto Stock Exchange under the symbol GPR and NYSE American under the symbol GPL.
About Great Panther Silver Ltd.
Great Panther Silver is a primary silver mining and exploration company whose current activities are focused on the mining of precious metals from its two wholly owned operating mines in Mexico: the Guanajuato mine complex and the Topia mine. The company also expects to make a decision on whether or not to restart the Coricancha project in Peru by the end of March, 2019. In addition, the company anticipates closing of the acquisition of gold producer Beadell Resources during the first week of March.
We seek Safe Harbor.
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