The arrangement consists of an arm's-length acquisition by Gran Colombia Gold Corp. of all of the issued and outstanding common shares of the company not already owned by Gran Colombia Gold or its affiliates by way of statutory plan of arrangement under the Business Corporations Act (British Columbia). The arrangement was completed pursuant to an arrangement agreement dated March 14, 2021. As a result of the arrangement, the company became a wholly owned subsidiary of Gran Colombia Gold and Gran Colombia Gold gained control of the Toroparu gold project, located in Guyana, South America.
The TSX Venture Exchange has been advised that the arrangement was approved by 99.81 per cent of the votes cast by shareholders of the company at the shareholder meeting held on May 27, 2021. The Supreme Court of British Columbia granted the final order approving the arrangement on June 1, 2021.
For further information, refer to the company's management information circular in respect of the shareholders meeting held on May 27, 2021, and its news releases dated May 20, 2021, May 27, 2021, and June 1, 2021.
In conjunction with the consummation of the arrangement, the company has requested that its common shares be delisted. Accordingly, effective at the close of business on June 7, 2021, the common shares of the company will be delisted from the exchange.
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