Mr. Freddie Leigh reports
GOLD X OBTAINS FINAL ORDER APPROVING PLAN OF ARRANGEMENT WITH GRAN COLOMBIA GOLD CORP.
Gold X Mining Corp. has obtained a final order from the Supreme Court of British Columbia, approving the previously announced plan of arrangement under the Business Corporations Act (British Columbia), pursuant to which Gran Colombia Gold Corp. will acquire all of the issued and outstanding common shares of Gold X not already owned by Gran Colombia in exchange for Gran Colombia common shares on the basis of 0.6948 of a Gran Colombia share for each Gold X share.
The arrangement was previously approved by the Gold X shareholders at the special meeting of Gold X shareholders held on May 27, 2021.
Subject to the satisfaction or waiver of customary closing conditions, Gold X currently expects that the arrangement will become effective at 12:01 a.m. on June 4, 2021. Following completion of the arrangement, it is expected that Gold X will be delisted from the TSX Venture Exchange and Gold X will make the applications to the relevant securities regulatory authorities in Canada to cease to be a reporting issuer for the purposes of securities legislation.
Further information regarding the arrangement is contained in the management information circular of Gold X in respect of the arrangement, which is available under Gold X's profile on SEDAR.
About Gold X Mining Corp.
Gold X 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 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 the Toroparu project on its 42,816-hectare (428-square-kilometre) 100-per-cent-owned Upper Puruni concession.
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