Mr. Mike Davies reports
GRAN COLOMBIA ANNOUNCES VOTING RESULTS OF THE ANNUAL GENERAL AND SPECIAL MEETING OF SHAREHOLDERS HELD TODAY; SHAREHOLDERS APPROVE GOLD X ACQUISITION
Gran Colombia Gold Corp.'s annual general and special meeting of shareholders was held today. The detailed results of the votes for each matter to be acted upon are set out below.
Update on Gold X Acquisition
Gran Colombia is also pleased to announce that, earlier today, the shareholders of both the company and Gold X approved the proposed arrangement under which the company will acquire all of the issued and outstanding common shares of Gold X not already owned by the company in exchange for Gran Colombia common shares on the basis of 0.6948 of a Gran Colombia share for each Gold X share.
Gold X expects to apply for a final order of the Supreme Court of British Columbia approving the arrangement on or about June 1, 2021. Subject to receipt of the final order, as well as the satisfaction or waiver of other customary closing conditions, Gold X and the company expect that the arrangement will become effective at 12:01 a.m. on June 4, 2021.
About Gran Colombia Gold Corp.
Gran Colombia is a Canadian-based mid-tier gold producer with its primary focus in Colombia, where it is currently the largest underground gold and silver producer with several mines in operation at its high-grade Segovia operations. Gran Colombia's portfolio includes equity positions in several listed companies advancing gold and silver projects, including a 44.3-per-cent equity interest in Aris Gold (Colombia: Marmato; and Canada: Juby), a 17.8-per-cent equity interest in Gold X (Guyana: Toroparu), a 27.3-per-cent equity interest in Denarius Silver (Spain: Lomero; and Colombia: Guia Antigua and Zancudo) and a 25.8-per-cent equity interest in Western Atlas Resources Inc. (Nunavut: Meadowbank).
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