Marathon Gold Shareholders Approve Arrangement with Calibre Mining
January 16 2024 - 1:42PM
Marathon Gold Corporation (“
Marathon”; TSX: MOZ)
is pleased to announce that at a special meeting (the
“
Special Meeting”) of its shareholders (the
“
Marathon Shareholders”) held earlier today, a
significant majority of the Marathon Shareholders voted in favour
of the special resolution (the “
Arrangement
Resolution”) approving the proposed plan of arrangement
(the “
Arrangement”) with Calibre Mining Corp.
(“
Calibre”), pursuant to which Marathon
Shareholders (other than Calibre) will receive 0.6164 of a common
share of Calibre for each common share of Marathon held.
The Arrangement Resolution required the approval
of at least 66 2/3% of the votes cast by all Marathon Shareholders
present in person or represented by proxy and entitled to vote at
the Special Meeting.
Marathon Shareholders carrying an aggregate of
278,637,000 votes, representing approximately 59.39% of votes
entitled to be cast at the Special Meeting, were present or
represented by proxy at the Special Meeting. The Arrangement
Resolution was approved by 97.01% of the votes cast by Marathon
Shareholders at the Special Meeting.
Marathon will apply for a final order of the
Ontario Superior Court of Justice (Commercial List) on January 22,
2024. Closing of the Arrangement remains subject to certain
customary closing conditions including final court approval.
Assuming the satisfaction of these closing conditions, the
Arrangement is expected to be completed on January 24, 2024.
For a more detailed description of the
Arrangement, please refer to Marathon’s management information
circular dated December 11, 2023, available on SEDAR+ at
www.sedarplus.ca and on Marathon’s website at
www.marathon-gold.com.
About Marathon
Marathon (TSX:MOZ) is a Toronto based gold
company advancing its 100%-owned Valentine Gold Project located in
the central region of Newfoundland & Labrador, one of the top
mining jurisdictions in the world. The Valentine Gold Project
comprises a series of five mineralized deposits along a
32-kilometre system. A December 2022 Updated Feasibility Study
outlined an open pit mining and conventional milling operation
producing 195,000 ounces of gold a year for 12 years within a
14.3-year mine life. The Valentine Gold Project was released from
federal and provincial environmental assessment in 2022 and
construction commenced in October 2022.
For more information, please
contact:
Amanda MalloughManager, Investor RelationsTel: 416
855-8202amallough@marathon-gold.com |
Matt MansonPresident & CEOmmanson@marathon-gold.com |
Julie RobertsonCFOjrobertson@marathon-gold.com |
To find out more information on Marathon Gold
Corporation and the Valentine Gold Project, please visit
www.marathon-gold.com.
Cautionary Statement Regarding
Forward-Looking Information
Certain information contained in this news
release, constitutes forward-looking information within the meaning
of Canadian securities laws (“forward-looking
statements”). All statements in this news release, other
than statements of historical fact, which address events, results,
outcomes or developments that Marathon expects to occur are
forward-looking statements. Forward-looking statements include
statements that are predictive in nature, depend upon or refer to
future events or conditions, or include words such as “expects”,
“anticipates”, “plans”, “believes”, “estimates”, “considers”,
“intends”, “targets”, or negative versions thereof and other
similar expressions, or future or conditional verbs such as “may”,
“will”, “should”, “would” and “could”. We provide forward-looking
statements for the purpose of conveying information about our
current expectations and plans relating to the future, and readers
are cautioned that such statements may not be appropriate for other
purposes. Statements about expectations regarding whether the
proposed acquisition of Marathon by Calibre will be consummated,
including whether conditions to the consummation of the Arrangement
will be satisfied, or the timing for completing the Arrangement and
receiving the required regulatory and court approvals, constitute
forward-looking statements.
Forward-looking statements necessarily involve
assumptions, risks and uncertainties, certain of which are beyond
Marathon’s control. These forward-looking statements are qualified
in their entirety by cautionary statements and risk factor
disclosure contained in filings made by Marathon with the Canadian
securities regulators, including Marathon’s annual information form
for the year ended December 31, 2022, its financial statements and
related MD&A for the financial year ended December 31, 2022,
and its interim financial statements and related MD&A for the
three and nine months ended September 30, 2023.
Marathon’s forward-looking statements are based
on the applicable assumptions and factors management considers
reasonable as of the date hereof, based on the information
available to management of Marathon at such time. Marathon does not
assume any obligation to update forward-looking statements if
circumstances or management’s beliefs, expectations or opinions
should change other than as required by applicable securities laws.
There can be no assurance that forward-looking statements will
prove to be accurate, and actual results, performance or
achievements could differ materially from those expressed in, or
implied by, these forward-looking statements. Accordingly, undue
reliance should not be placed on forward-looking statements.
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