Abcourt Completes Acquisition of Pershimex BY Merger
ABCOURT COMPLETES ACQUISITION OF PERSHIMEX BY
MERGER
May 11, 2023, Val d’Or, Québec – Abcourt Mines Inc. (TSX-V: ABI) (“Abcourt” or the “Corporation”)
and Pershimex Resources Corporation (TSX-V: PRO) (“Pershimex”) are pleased to announce that Abcourt
has completed the previously announced acquisition of all of the issued and outstanding common shares of
Pershimex (the “ Pershimex Shares”) by way of a three-cornered amalgamation (the “ Amalgamation”)
under the Canada Business Corporations Act.
Pursuant to the Amalgamation, Abcourt acquired all of the issued and outstanding Pershimex Shares for a
consideration (the “Exchange Ratio”) of 0.5712 of a common share of Abcourt (“ Abcourt Shares”) for
each outstanding Pershimex Share. Abcourt now owns 100% of the outstanding Pershimex Shares. On
closing of the Amalgamation, Abcourt issued an aggregate of 79,294,373 Abcourt Shares to former
Pershimex shareholders, who now hold approximately 18.5% of the 428,108,503 Abcourt Shares issued
and outstanding, on an undiluted basis. Outstanding options and warrants to acquire Pershimex Shares have
been adjusted as a result of the Amalgamation based on the Exchange Ratio and will be exercisable in the
aggregate for 14,614,560 Abcourt Shares.
The delisting of the Pershimex Shares from the TSX-V is expected to occur at the close of business on or
about May 18, 2023.
Full details of the Amalgamation and certain other matters are set out in the management information
circular of Pershimex dated November 18, 2022 (the "Information Circular"). A copy of the Information
Circular can be found under Pershimex’s profile on SEDAR at www.sedar.com or by contacting Abcourt
at the number shown below.
Pershimex shareholders who have questions or who may need assistance with the completion of letters of
transmittal are advised to contact Computershare Investor Services, the depository for the Amalgamation,
Toll Free (North America) at 1-800-564-6253 or outside of North America at 1-514-982-7555, or by email
About Abcourt Mines Inc.
Abcourt Mines Inc. is a gold producer and a Canadian exploration corporation with strategically located
properties in northwestern Québec, Canada. Abcourt owns the Sleeping Giant mill and mine where it
concentrates its activities.
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For more information:
Pascal Hamelin
President and CEO of Abcourt
T: (819) 768-2857
Dany Cenac Robert
Investor Relations, Reseau ProMarket Inc.
T: (514) 722-2276, post 456
Cautionary Note Regarding Forward-Looking Statements and Information
This press release contains forward-looking statements and forward-looking information (collectively,
"forward-looking statements") within the meaning of applicable securities laws. Such forward-looking
statements include, without limitation, statements regarding the anticipated benefits of the Amalgamation
for the parties thereto and their shareholders. Although the parties each believes that such forward-looking
statements are reasonable, it can give no assurance that such expectations will prove to be correct.
Forward-looking statements are typically identified by words such as: believe, expect, anticipate, intend,
estimate, postulate and similar expressions, or are those, which, by their nature, refer to future events. Each
party cautions investors that any forward-looking statements contained herein are not guarantees of future
results or performance, and that actual results may differ materially from those in forward-looking
statements as a result of various factors and risks, including, risks with respect to Pershimex’s being
integrated successfully in Abcourt’ business or such integration proving more difficult, time consuming or
costly than expected, risks of not realizing on the potential benefits of Amalgamation, uncertainties of the
global economy, market fluctuations and other risks identified it’s the disclosure documents filed by each
party to the Amalgamation at www.sedar.com. This press release is not and is not to be construed in any
way as, an offer or recommendation to buy or sell securities in Canada or in the United States.
Although the parties to the Amalgamation each believes the expectations expressed in such forward-looking
statements are based on reasonable assumptions, such statements are not guarantees of future performance
and actual events, results and/or developments may differ materially from those in the forward-looking
statements. Readers should not place undue reliance on the ’forward-looking statements contained herein.
No party to the Amalgamation undertakes to update any forward-looking statement that may be made from
time to time by the said party or on its behalf, except in accordance with and as required by applicable
securities laws.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER ACCEPTS
RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS RELEASE.