Evrim Resources Announces the Results of its Annual and Special General Meeting and Approval of Merger with Renaissance Gold
Evrim Resources Announces the Results of its
Annual and Special General Meeting and
Approval of Merger with Renaissance Gold
VANCOUVER, BC
,
Aug. 12, 2020
/CNW/ - Evrim Resources Corp. (TSXV: EVM) ("Evrim" or the
"Company") is pleased to announce the results of its Annual and Special General Meeting (the
"Meeting") held today. All resolutions voted on at the Meeting were overwhelmingly approved with
over 99% support.
At the Meeting, Evrim's shareholders approved the Company's previously announced merger
transaction with Renaissance Gold Inc. (TSX.V:REN, OTCQB:RNSGF) ("RenGold") pursuant to a
plan of arrangement (the "Arrangement"). Under the terms of the Arrangement, each outstanding
RenGold common share (each, a "RenGold Share") will be exchanged for 1.2448 Evrim common
shares (each, an "Evrim Share"), which will result in RenGold shareholders immediately prior to the
Arrangement holding 50% of the issued and outstanding shares Evrim Shares immediately following
the Arrangement. Further pursuant to the Arrangement, outstanding RenGold stock options and
RenGold Share purchase warrants will be exchanged for replacement options to acquire Evrim
Shares and replacement warrants to acquire Evrim Shares each giving effect to the same exchange
ratio. The resolution approving the merger transaction with RenGold was approved by 99.9% of the
votes cast by Evrim shareholders.
Completion of the Arrangement remains subject to approval of the Supreme Court of
British
Columbia
and certain other customary closing conditions. The application for the final order of the
Supreme Court of
British Columbia
is scheduled for
August 17, 2020
. Assuming that all conditions to
closing of the Arrangement are satisfied or waived, the Arrangement is expected to become
effective on or about
August 18, 2020
.
At the Meeting, Evrim's shareholders also approved the re-election of directors, the appointment of
Smythe LLP as auditors of the Company and the Company's Stock Option Plan.
It is anticipated that upon the completion of the Arrangement Paddy Nicol and
John Thompson
will
resign as directors to facilitate the appointment of nominees of Renaissance. Furthermore, the
Company will change its name to Orogen Royalties Inc. ("Orogen").
Paddy Nicol
will remain as
President and CEO of Orogen.
Additional information regarding the terms of the Arrangement is set out in Evrim's management
information circular dated
July 8, 2020
, which is filed under the Company's SEDAR profile at
www.sedar.com
.
About Evrim Resources
Evrim Resources Corp. is a mineral exploration company who, on
June 10, 2020
, announced a
merger-of-equals combination with Renaissance Gold, Inc. to form a new royalty business named
Orogen Royalties Inc. ("Orogen"). Orogen will focus on project generation as has been the history of
both Evrim and Renaissance but with a renewed focus on organic royalty creation and royalty
acquisition. Underpinning Orogen's royalty portfolio is the Ermitaño West gold deposit in
Sonora,
Mexico
(2% NSR) being developed by First Majestic Silver Corp. and planned to be in production in
2021, and the Silicon gold project (1% NSR) in
Nevada, USA
, being advanced by AngloGold Ashanti
SA. The transaction is expected to close around
August 18, 2020
.
On Behalf of the Board
EVRIM RESOURCES CORP.
Paddy Nicol
President & CEO
To find out more about Evrim Resources Corp., please contact
Paddy Nicol
, President & CEO at
604-248-8648, and
Liliana Wong
, Manager of Marketing and Investor Relations at 604-248-8648.
Visit our website at
www.evrimresources.com
and
www.rengold.com
.
Forward Looking Information
This news release includes certain statements that may be deemed "forward looking statements".
All statements in this presentation, other than statements of historical facts, that address events or
developments that Evrim Resources Corp. (the "Company") expect to occur, are forward looking
statements. Forward looking statements are statements that are not historical facts and are
generally, but not always, identified by the words "expects", "plans", "anticipates", "believes",
"intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions
"will", "would", "may", "could" or "should" occur.
Forward looking information relates to statements concerning the Company's future outlook and
anticipated events or results, as well as the Company's management expectations with respect to
the proposed business combination (the "Transaction"). This document also contains forward-looking
statements regarding the anticipated completion of the Transaction and timing thereof. Forward-
looking statements in this document are based on certain key expectations and assumptions made
by the Company, including expectations and assumptions concerning the receipt, in a timely manner,
of regulatory and stock exchange approvals in respect of the Transaction.
Although the Company believes the expectations expressed in such forward looking statements are
based on reasonable assumptions, such statements are not guarantees of future performance and
actual results may differ materially from those in the forward looking statements. Factors that could
cause the actual results to differ materially from those in forward looking statements include market
prices, exploitation and exploration successes, and continued availability of capital and financing, and
general economic, market or business conditions. Furthermore, the extent to which COVID-19 may
impact the Company's business will depend on future developments such as the geographic spread
of the disease, the duration of the outbreak, travel restrictions, physical distancing, business
closures or business disruptions, and the effectiveness of actions taken in
Canada
and other
countries to contain and treat the disease. Although it is not possible to reliably estimate the length
or severity of these developments and their financial impact as of the date of approval of these
condensed interim consolidated financial statements, continuation of the prevailing conditions could
have a significant adverse impact on the Company's financial position and results of operations for
future periods.
Investors are cautioned that any such statements are not guarantees of future performance and
actual results or developments may differ materially from those projected in the forward looking
statements. Forward looking statements are based on the beliefs, estimates and opinions of the
Company's management on the date the statements are made. Except as required by securities
laws, the Company undertakes no obligation to update these forward looking statements in the event
that management's beliefs, estimates or opinions, or other factors, should change.
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
release.
SOURCE
Evrim Resources Corp.
View original content to download multimedia:
http://www.newswire.ca/en/releases/archive/August2020/12/c0781.html
%SEDAR: 00027260E
For further information:
Evrim Resources Corp., 1201 - 510 West Hastings Street, Vancouver,
BC, Canada V6B 1L8, [email protected]
CO: Evrim Resources Corp.
CNW 17:00e 12-AUG-20