Avidian Announces Results of Special Meeting
Avidian Announces Results of Special Meeting
TORONTO, Ontario, September 13, 2021 – Avidian Gold Corp. (“Avidian” or the “Company”) (TSX-
V:AVG & OTCQB:AVGDF ) is pleased to announce that at its special meeting of shareholders (the
“Meeting”) held on September 7th, 2021, the shareholders of the Company overwhelmingly voted in favour
of the resolutions put forth at the Meeting, including authorizing the board of directors of the Company (the
“Board”) to (i) amend the Company’s articles to facilitate a distribution to Avidian’s shareholders of a
certain portion of Hide Tide Resources Corp. (“ High Tide”) common shares that the Avidian holds and,
(ii) to consolidate the Company’s issued and outstanding common shares.
Distribution of High Tide Common Shares to Avidian Shareholders
In anticipation of the Company’s majority owned subsidiary High Tide listing its shares on a recognized
Canadian stock exchange (the “Listing”), the Company’s shareholders voted in favour of an amendment to
the Company’s articles to facilitate a distribution of approximately 9,360,852 High Tide common shares
(the “ Distribution”), being approximately 30% of the total number of High Tide common shares the
Company holds. The Company’s articles will be amended whereby each Avidian issued and outstanding
common share will be exchanged for: (i) one (1) new common share, and (ii) a pro rata share of the
Distribution.
The Board anticipates that the Distribution will be distributed to Avidian shareholders of record on the date
that is five (5) days after the Board resolves to implement the Distribution (the “Record Date”), which the
Board expects to occur shortly after the conditions precedent are met for the Listing.
Consolidation
Avidian shareholders also approved a resolution authorizing the Board to consolidate the issued and
outstanding common shares of the Company (the “Consolidation”) on the basis of a ratio of one (1) post -
consolidation common share for up to five (5) pre -consolidation common shares (the “ Upper Limit
Consolidation Ratio”). The Company reserves the right to choose any consolidation ratio so long as the
ratio does not exceed the Upper Limit Consolidation Ratio. The Board believes that the potential benefits
of the Consolidation include: the ability to attract greater investor interest, increasing institutional investor
participation, greater flexibility in business opportunities and improving the prospect of raising additional
capital at a higher price per share.
The Consolidation is subject to receipt of TSX Venture Exchange approval. If such approval is obtained
and the Board decides to implement the Consolidation, the Consolidation will occur at a time determined
by the Board and announced by a press release of the Company.
Non-registered beneficial holders holding their common shares through a bank, broker or other nominee
should note that such banks, brokers or other nominees may have specific procedures for processing the
consolidation. Shareholders holding their common shares with such a bank, broker or nominee and who
have any questions in this regard are encouraged to contact their nominee.
About Avidian Gold Corp.
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Avidian brings a disciplined and veteran team of project managers together with a focus on advanced stage
gold exploration projects in Alaska. Avidian’s Golden Zone project hosts a NI 43 -101 Indicated gold
resource of 267,400 ounces (4,187,000 tonnes at 1.99 g/t Au) plus an Inferred gold resource of 35,900
ounces (1,353,000 tonnes at 0.83 g/t Au). * Additional projects include the Aman ita and the Amanita NE
gold properties which are both adjacent to Kinross Gold’s Fort Knox gold mine in Alaska, and the Jungo
gold/copper property in Nevada. *Technical Report on the Golden Zone Property, August 17, 2017, L.
McGarry P.Geo & I.. Trinder P.Geo, A.C.A Howe International Ltd.
High Tide is a private corporation that is focused on, and committed to, the development of advanced-stage
mineral projects in Canada using industry best practices combined with a strong social license from local
communities. High Tide is earning a 100% interest in the Labrador West Iron Project located adjacent to
IOC/Rio Tinto’s 23 mtpy Carol Lake Mine in Labrador City, Labrador and owns a 100% interest in the Lac
Pegma Copper-Nickel-Cobalt deposit located 50 kilometres southeast of Fermont Quebec.
Further details on the Co mpany and the individual projects, including the NI 43 -101 technical reports on
the Golden Zone property and Labrador West Iron property can be found on the Co mpany’s website at
www.avidiangold.com.
For further information, please contact:
Steve Roebuck
President & CEO
Mobile: (905) 741-5458
Email: [email protected]
or
Dino Titaro
Director, Vice-Chairman
Mobile: (647) 283 7600
Email: [email protected]
Neither 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 news release.
Forward-looking information
This News Releas e includes certain "forward -looking statements" which are not comprised of historical
facts including statements regarding the Distribution, the Listing and the Consolidation. Forward-looking
statements include estimates and statements that describe the Company’s future plans, objectives or goals,
including words to the effect that the Company or management expects a stated condition or result to occur.
Forward-looking statements may be identified by such terms as “believes”, “anticipates”, “expects”,
“estimates”, “may”, “could”, “would”, “will”, or “plan”. Since forward -looking statements are based on
assumptions and address future events and conditions, by their very nature they involve inherent risks and
uncertainties. Although these statements are based on information currently available to the Company, the
Company provides no assurance that actual results will meet management’s expectations. Risks,
uncertainties and other factors involved with forward -looking information could cause actual events,
results, performance, prospects and opportunities to differ materially from those expressed or implied by
such forward-looking information. Forward looking information in this news release includes, but is not
limited to, the Company’s objectives, goals or futur e plans, statements, exploration results, potential
mineralization, the estimation of mineral resources, exploration and mine development plans, the
completion of the Offering, the completion of the Listing and the Distribution, timing of the commencement
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of operations and estimates of market conditions. Factors that could cause actual results to differ materially
from such forward -looking information include, but are not limited to: the ability to anticipate and
counteract the effects of COVID-19 pandemic on the business of the Company, including without limitation
the effects of COVID-19 on the capital markets, commodity prices supply chain disruptions, restrictions on
labour and workplace attendance and local and international travel, failure to receive requisite approvals in
respect of the foregoing, failure to identify mineral resources, failure to convert estimated mineral resources
to reserves, the inability to complete a feasibility study which recommends a production decision, the
preliminary nature of metallurgical test results, delays in obtaining or failures to obtain required
governmental, environmental or other project approvals, political risks, inability to fulfill the duty to
accommodate First Nations and other indigenous peoples, uncertainties relating to the availability and costs
of financing needed in the future, changes in equity markets, inflation, changes in exchange rates,
fluctuations in commodity prices, delays in the development of projects, capital and operating costs varying
significantly from estimates and the other risks involved in the mineral exploration and development
industry, and those risks set out in the Company’s public documents filed on SEDAR. Although the
Company believes that the assumptions and factors used in prepar ing the forward-looking information in
this news release are reasonable, undue reliance should not be placed on such information, which only
applies as of the date of this news release, and no assurance can be given that such events will occur in the
disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any
forward-looking information, whether as a result of new information, future events or otherwise, other than
as required by law