Monarch Gold Corporation T.MQR

Takeover

[kukaman]

Monarch Gold Announces Friendly Acquisition Agreement With Yamana Gold
Mon, November 2, 2020, 8:09

https://finance.yahoo.com/news/leons-announces-opening-two-stores-140000312.html

Transaction Terms

Upon implementation of the plan of arrangement, the following assets and liabilities will be transferred by Monarch to SpinCo in consideration for the issuance of the SpinCo Shares to Monarch Shareholders:

1. The Beaufor mine, the McKenzie Break property, the Croinor Gold property, the Swanson property and the Beacon Gold mill and property (the "SpinCo Properties'');

2. C$14 million cash;

3. All assets and liabilities related to the SpinCo Properties.

Following the Spin-Out, each outstanding common share of Monarch will be exchanged for:

1. C$0.192 in cash from Yamana;

2. 0.0376 of a Yamana share (a value of C$0.288 based on the volume weighted average price of the Yamana shares on the TSX for the 20 trading days ending on October 30, 2020);

3. 0.20 of a SpinCo Share (with each full share having a value of C$0.75 per share).

Following the completion of the transaction, Monarch Shareholders will own approximately 1.3% of Yamana and 100% of SpinCo, and Yamana will own 100% of Monarch.