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Copaur target New Placer gets final order for takeover
2022-05-11 16:16 ET - News Release
Also News Release (C-NGLD) New Placer Dome Gold Corp
Mr. Jeremy Yaseniuk of Copaur reports
NEW PLACER DOME GOLD OBTAINS FINAL ORDER FOR PLAN OF ARRANGEMENT
New Placer Dome Gold Corp. has obtained a final order from the Supreme Court of British Columbia approving the previously announced plan of arrangement with Copaur Minerals Inc. under the Business Corporations Act (British Columbia). Pursuant to the plan of arrangement, Copaur will acquire all of the outstanding common shares of New Placer Dome for consideration of 0.1182 of a common share of Copaur for each common share held.
The arrangement was previously approved by holders of common shares at the special meeting of shareholders held on May 6, 2022. It is currently anticipated that the arrangement will be completed on or about May 13, 2022, upon the satisfaction or waiver of customary closing conditions as set forth in the definitive arrangement agreement, which include, among other things, the receipt of final approval of the arrangement from the TSX Venture Exchange.
Further details regarding the arrangement are set out in the management information circular of the company dated April 7, 2022, which is available on New Placer Dome's profile on SEDAR.
About New Placer Dome Gold Corp.
New Placer Dome is a gold exploration company focused on acquiring and advancing gold projects in Nevada. New Placer Dome's flagship Kinsley Mountain gold project, located 90 kilometres south of the Long Canyon mine (currently in production under the Newmont/Barrick joint venture, Nevada Gold Mines), hosts Carlin-style gold mineralization, previous run-of-mine heap leach production, and National Instrument 43-101 indicated resources containing 418,000 ounces of gold grading 2.63 grams per tonne gold (4.95 million tonnes) and inferred resources containing 117,000 ounces of gold averaging 1.51 g/t Au (2.44 million tonnes) (1). The Bolo project, located 90 kilometres northeast of Tonopah, Nev., is another core asset, similarly hosting Carlin-style gold mineralization. New Placer Dome also owns 100 per cent of the Troy Canyon project, located 120 kilometres south of Ely, Nev. New Placer Dome is run by a strong management and technical team consisting of capital market and mining professionals with the goal of maximizing value for shareholders through new mineral discoveries, committed long-term partnerships and the advancement of exploration projects in geopolitically favourable jurisdictions.
Qualified person
The scientific and technical information contained in this news release as it relates to New Placer Dome has been reviewed and approved by Kristopher J. Raffle, PGeo (British Columbia), principal and consultant of Apex Geoscience Ltd. of Edmonton, Alta., a director of New Placer Dome, a qualified person as defined in National Instrument 43-101 -- Standards of Disclosure for Mineral Projects. Mr. Raffle has verified the data disclosed, which include a review of the sampling, analytical and test data underlying the information and opinions contained herein.
About Copaur Minerals Inc.
Copaur is a Canadian-based TSX Venture Exchange-listed copper-gold mining company whose primary asset is the 100-per-cent-owned Williams gold-copper property that spans across 5,159 hectares of land package in northeastern British Columbia. The Williams project is a highly prospective exploration property which hosts a large, partially tested 3.0-kilometre-by-2.0-kilometre gold-in-soil anomaly and an early-stage 1.8-kilometre-wide copper porphyry target. Historical work on the Williams project includes 6,759 metres of diamond drilling over 31 holes, rock and soil sampling, trenching, and geophysical surveys.
Qualified person
The scientific and technical information contained in this news release regarding Copaur Minerals has been reviewed and approved by Alvin Jackson, PGeo, a director of Copaur Minerals and a qualified person as defined in National Instrument 43-101.
(1) Technical report on the Kinsley project, Elko county, Nevada, United States, dated June 21, 2021, with an effective date of May 5, 2021, prepared by Michael M. Gustin, PhD, and Gary L. Simmons, MMSA, and filed under New Placer Dome's issuer profile on SEDAR.