VANCOUVER, March 11, 2019 /CNW/ - IDM Mining Ltd. (TSXV:
IDM) (OTCQB: IDMMF) ("IDM" or the "Company") would
like to remind securityholders they have until 10:00 am PT on March 15,
2019 to vote their shares or options for the proposed plan
of Arrangement (the "Arrangement") with Ascot Resources Ltd.
("Ascot").
Independent Proxy Advisors Recommend IDM Securityholders Vote
FOR the Arrangement
Institutional Shareholder Services ("ISS") and Glass
Lewis & Co. ("Glass Lewis') are two leading independent,
third party proxy advisory firms who issue voting recommendations
to institutional shareholders. Both ISS and Glass Lewis have
recommended that securityholders of IDM vote FOR the
Arrangement with Ascot.
Benefits of the Arrangement include:
- The combination of the two advanced high-grade projects will
result in a compelling resource base of high-grade measured and
indicated gold-silver resources positioning Ascot as a consolidator
of the southern Golden Triangle;
- Complementary management teams with a combined skill set of
mining development, operations, finance, exploration and community
relations experience; locally-based team of miners, drillers and
support team;
- Two, 15+ km long early-Jurassic geological trends totaling
25,000 hectares, which host multiple advanced deposits with
significant potential new high-grade gold discoveries located 25
kms from each other;
- Geographic and regulatory proximity, with all assets located
within Treaty territory of the Nisga'a Nation, near the prominent
mining communities of Stewart, British
Columbia and Hyder,
Alaska;
- A solid infrastructure foundation at Premier, which includes
underground workings, a process mill, tailings storage facility,
power and water treatment facilities; and
- Strong, supportive combined corporate, retail and institutional
shareholder base providing enhanced market visibility.
IDM Meeting
The Special Meeting will be held on Wednesday, March 20, 2019 at 10:00 am PT at the offices of DuMoulin Black LLP,
10th Floor, 595 Howe Street, Vancouver,
British Columbia, where IDM securityholders will be asked to
consider and vote on the Transaction.
Additional information concerning the Arrangement can be found
in IDM's information circular (the "Information Circular")
dated February 13, 2019. An
electronic copy of the Information Circular is available under
IDM's profile on SEDAR at www.sedar.com and on IDM's website at
http://www.idmmining.com/.
YOUR VOTE IS IMPORTANT - PLEASE VOTE
TODAY
The IDM Board of Directors UNANIMOUSLY
recommends that Securityholders vote IN FAVOUR
of the Arrangement.
How to Vote
Securityholders are encouraged to vote today using the internet
or telephone, to ensure your vote is received in a timely
manner.
Registered securityholders may vote by: Shares or
options held in own name and represented by a physical certificate
or option agreement
- Internet: www.investorvote.com
- Telephone: 1-866-732-8683
Beneficial shareholders may vote by: Shares held with a
broker, bank or other intermediary
- Internet: www.proxyvote.com
- Telephone: 1-877-452-7184
Consideration Election
Each IDM shareholder will be entitled to receive 0.0675 of a
common share of Ascot for each share of IDM held (the
"Consideration"). The Transaction will consolidate Ascot's Premier
Gold project ("Premier") and IDM's Red Mountain project
("Red Mountain"), to create the leading high-grade gold
development and exploration company in northwestern British Columbia's Golden Triangle. The
combined entity will benefit from numerous operational and
development synergies.
Shareholder Questions and Assistance
If you have any questions or require assistance voting your IDM
shares or options, please contact our proxy solicitation agent,
Laurel Hill Advisory Group, at 1-877-452-7184 toll-free in
North America, or call collect
outside North America at +1 416
304-0211, or by e-mail at assistance@laurelhill.com.
About IDM and Red Mountain
IDM Mining Ltd. is an exploration and development company based
in Vancouver, BC, Canada focused on advancing the Red Mountain
Gold project towards production. The 17,125 hectare Red Mountain
Gold project is located in northwestern BC, 15 km northeast of the
mining town of Stewart.
ON BEHALF OF THE BOARD
of IDM Mining Ltd.
"Robert McLeod"
President, CEO and Director
"Neither the TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in policies
of the TSX Venture Exchange) accepts responsibility for the
adequacy or accuracy of this release."
Forward-Looking Statements: Some statements in
this news release contain forward-looking information or
forward-looking statements for the purposes of applicable
securities laws. These statements include, among others,
statements related to the completion of the Arrangement and the
anticipated benefits of the Arrangement. In making the
forward-looking statements in this release, the Company has applied
certain assumptions that are based on the Company's current belief
as well as information currently available to the
Company. Although the Company considers these
assumptions to be reasonable based on information currently
available to it, they may prove to be incorrect, and the
forward-looking statements in this release are subject to numerous
risks, uncertainties and other factors that may cause future
results to differ materially from those expressed or implied in
such forward -looking statements. A fulsome description
of the assumptions, risks and uncertainties related to the
forward-looking statements in this release are described in the
detail in the Management Information Circular referenced in this
release. Readers are cautioned not to place undue reliance on
forward-looking statements. The Company does not
intend, and expressly disclaims any intention or obligation to,
update or revise any forward-looking statements whether as a result
of new information, future events or otherwise, except as required
by law.
SOURCE IDM Mining Ltd.
