Canadian Dollars unless otherwise
noted
VANCOUVER, July 17, 2019 /CNW/ - Atlantic Gold
Corporation (TSX-V: AGB) ("Atlantic" or the
"Company") announces that it has obtained a final order
from the Supreme Court of British
Columbia (the "Final Order") approving the previously
announced Plan of Arrangement under the Business Corporations
Act (British Columbia) (the
"Arrangement") whereby St Barbara Limited ("St
Barbara") will acquire all of the issued and outstanding common
shares of Atlantic for C$2.90 in cash
per common share of Atlantic, plus 0.05 of a share of Artemis Gold
Inc. (formerly 1193490 B.C. Ltd.) for
each Atlantic common share. The Arrangement was originally
announced on May 14, 2019.
Receipt of the Final Order follows the previously announced
approval of the Arrangement by the shareholders and optionholders
of Atlantic at a special meeting on July 15,
2019 (the "Meeting").
The Arrangement is expected to close on July 19, 2019, subject to the satisfaction of
customary conditions.
Further updates will be provided in due course.
On behalf of the Board of Directors,
Steven Dean
Chairman and Chief Executive Officer
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
About Atlantic
Atlantic is a well-financed, growth-oriented gold development
group with a long-term strategy to build a mid-tier gold production
company focused on manageable, executable projects in
mining-friendly jurisdictions. Atlantic is focused on growing gold
production in Nova Scotia
beginning with its MRC phase one open-pit gold mine which declared
commercial production in March 2018,
and its phase two Life of Mine Expansion at industry lowest decile
cash and all-in-sustaining-costs (as stated in the Company's news
releases dated January 16, 2019 and
January 29, 2018). Atlantic is
committed to the highest standards of environmental and social
responsibility and continually invests in people and technology to
manage risks, maximize outcomes and returns to all
stakeholders.
Forward-Looking Statements:
This release contains certain "forward looking statements" and
certain "forward-looking information" as defined under applicable
Canadian and U.S. securities laws. Forward-looking statements and
information can generally be identified by the use of
forward-looking terminology such as "may", "will", "expect",
"intend", "estimate", "anticipate", "believe", "continue", "plans"
or similar terminology. Forward-looking statements and information
are not historical facts, are made as of the date of this press
release, and include, but are not limited to, statements and
discussion regarding the consummation and timing of the
Arrangement, the satisfaction of the conditions precedent to the
Arrangement, the amount and nature of the consideration received by
Atlantic shareholders in connection with the Arrangement, the value
of Artemis Gold Inc., St Barbara's funding of the cash
consideration, discussions of future plans, guidance, projections,
objectives, estimates and forecasts and statements as to
management's expectations with respect to, among other things, the
matters and activities contemplated in this news release. These
forward-looking statements involve numerous risks and uncertainties
and actual results may vary. Important factors that may cause
actual results to vary include, without limitation, the timing and
receipt of certain approvals, St Barbara's funding of the cash
consideration and the satisfaction of the conditions precedent to
the Arrangement. The actual results or performance by the Company
could differ materially from those expressed in, or implied by, any
forward-looking statements relating to those matters. Accordingly,
no assurances can be given that any of the events anticipated by
the forward-looking statements will transpire or occur, or if any
of them do so, what impact they will have on the results of
operations or financial condition of the Company. Except as
required by law, the Company is under no obligation, and expressly
disclaim any obligation, to update, alter or otherwise revise any
forward-looking statement, whether written or oral, that may be
made from time to time, whether as a result of new information,
future events or otherwise, except as may be required under
applicable securities laws.
SOURCE Atlantic Gold Corporation