Mr. Marz Kord reports
WALLBRIDGE ANNOUNCES BALMORAL SECURITYHOLDER APPROVAL OF ARRANGEMENT
At a special meeting of Balmoral Resources Ltd. securityholders held on May 7, 2020, Balmoral securityholders voted overwhelmingly in favour of the resolution approving the acquisition of Balmoral by Wallbridge Mining Company Ltd. by way of a plan of arrangement, as previously disclosed by Wallbridge and Balmoral.
In total, 99.4 per cent of the Balmoral securityholders who cast ballots voted to approve the arrangement. Under the terms of the arrangement, Wallbridge will, among other things, acquire all of the issued and outstanding shares of Balmoral, with Balmoral securityholders receiving 0.71 of a common share of Wallbridge for each issued and outstanding common share of Balmoral currently held. The report of voting results will be made available under Balmoral's profile on SEDAR.
"The overwhelming support of the arrangement by Balmoral securityholders is a tremendous endorsement of the strength of our to-be-combined companies," said Marz Kord, chief executive officer of Wallbridge. "We would like to thank the Balmoral securityholders for their approval of this transaction. Wallbridge's management team is excited about the future and confident the company is extremely well positioned to deliver meaningful value to all Wallbridge securityholders."
About Wallbridge Mining Company Ltd.
Wallbridge Mining Company is currently developing its 100-per-cent-owned Fenelon gold property, which is located proximal to the Sunday Lake deformation zone in an emerging gold belt in northwestern Quebec.
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