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Bullboard - Stock Discussion Forum LAKE SHORE GOLD CORP 6.25 PCT DEBS T.LSG.DB

TSX:LSG.DB - Post Discussion

LAKE SHORE GOLD CORP 6.25 PCT DEBS > Takeover Recomended
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Post by shawk on Sep 02, 2015 6:17pm

Takeover Recomended

[/quoteFOR IMMEDIATE RELEASE NR09-2015 Temex Resources Corp. Announces Leading Independent Advisory Firms ISS and Glass Lewis Recommend Shareholders Vote FOR the Proposed Plan of Arrangement with Lake Shore Gold Corp. September 2, 2015 (TORONTO, ONTARIO): Temex Resources Corp. (“Temex” or the “Company”) (TSX-V: TME, FWB: TQ1) is pleased to announce that it has been advised that both of the leading independent proxy advisory firms, Institutional Shareholder Services Inc. (“ISS”) and Glass, Lewis & Co., LLC (“Glass Lewis”) have recommended that shareholders support Temex’s proposed plan of arrangement (the “Arrangement”) at the annual and special meeting of shareholders of Temex scheduled for September 14, 2015 and vote FOR the Arrangement resolution. Under the Arrangement, holders of Temex common shares will receive, in respect of each Temex share that they hold, 0.105 of a common share of Lake Shore Gold Corp. (“Lake Shore Gold”). Temex is advised that ISS recommended that shareholders vote FOR the Arrangement resolution for a number of reasons including, the significant premium offered to Temex shareholders and the absence of substantial governance concerns under the Arrangement, in addition to the favourable market reaction to the Arrangement. In addition to the significant premium to Temex’s share price represented by the Arrangement, Temex has also been advised that Glass Lewis recommended that Temex shareholders vote FOR the Arrangement resolution given the Arrangement does not deviate from standard industry practice and reasonably reflects current market conditions, and provides Temex shareholders with a compelling opportunity to convert their equity into equity of a larger, more diverse and better capitalized mining entity. “We believe there are strong synergies between Temex and Lake Shore Gold and the combination of Temex with Lake Shore Gold would create a leading and focused gold exploration and development company based in the Timmins Gold Camp and within northeastern Ontario. Lake Shore Gold has ample capital and resources to rapidly advance their exploration stage portfolio to which our Whitney and Juby projects add substantial upside. We also believe that this combination benefits strongly from Lake Shore Gold’s exploration and development experience in the Timmins Gold Camp, along with their global capital markets reach and being backed by some of the strongest financial institutions in our industry”, said Ian Campbell, President and CEO of Temex. Tony Makuch, President and CEO of Lake Shore Gold, commented “Our proposed acquisition of Temex provides an attractive opportunity to increase our asset base in the Timmins Camp. The transaction is very complementary to our ongoing efforts to sustain and extend our current operations in Timmins and aggressively advance our very exciting organic growth opportunities in the area." Temex encourages all shareholders to read the Company’s information circular that was mailed to shareholders of record as of July 16, 2015 and is available on SEDAR at www.sedar.com. The information circular contains a detailed description of the Arrangement, among other matters. Temex’s board unanimously recommends that Temex shareholders vote FOR the Arrangement at the annual and special meeting of Temex shareholders. Temex shareholders are reminded to vote before the proxy cut-off time of 10:00 a.m. (Toronto Time) on Thursday, September 10, 2015. If you require any assistance in completing your proxy, please consult Temex’s proxy solicitor, Kingsdale Shareholder Services (“Kingsdale”) by telephone at 1-866-581-1571 toll-free in North America or call collect at 416-867-2272 outside of North America or by e-mail at contactus@kingsdaleshareholder.com. About ISS ISS is the world’s leading provider of corporate governance solutions to the global financial community. More than 1,700 institutional clients rely on the expertise of ISS to help them make more informed investment decisions on behalf of their shareholders. About Glass Lewis Glass Lewis is a leading provider of governance services that support engagement among institutional investors and corporations through its research, proxy vote management and technology platforms. Glass Lewis empowers institutional investors to make sound voting decisions at more than 20,000 meetings a year by uncovering and assessing governance, business, legal, political and accounting risks at issuers domiciled in 100 countries. FOR FURTHER INFORMATION PLEASE CONTACT: Temex Resources Corp. Ian Campbell President and CEO Tel: 416-862-2246 Toll Free: 1-866-373-6287 info@temexcorp.com Lake Shore Gold Corp. Tony Makuch President & CEO (416) 703-6298 Mark Utting Vice-President, Investor Relations Lake Shore Gold Corp. (416) 703-6298 www.lsgold.com Cautionary Note Regarding Forward-Looking Information This press release contains forward-looking information which is not comprised of historical facts. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward-looking information contained or referred to in this press release includes, but may not be limited to, the completion and expected timing of the Arrangement, the timing of the Temex shareholder meeting (the “Meeting”) and the anticipated benefits of the Arrangement to Temex shareholders. Factors that could cause actual results to differ materially from those described in such forward-looking information include, but are not limited to, risks related to the Company’s or Lake Shore Gold’s inability to satisfy a condition precedent t]
Comment by shawk on Sep 02, 2015 6:26pm
It seems to me that we will be unlikely to see any exploration drill results until after special meeting of shareholders of Temex scheduled for September 14, 2015. Under the Lake Shore arrangement, each shareholder of Temex would receive, in exchange for each Temex share held, 0.105 of a common share in the capital of Lake Shore, having a value of 13 cents based on the closing price of the ...more  
Comment by bossu on Sep 02, 2015 8:10pm
Last drilling results were published on June 25 th ....74 days ago while the two  previous drilling results were published at a pace of 62 days...(On Fev 24 th and April 27 th)  Just to say that we are overdue with ''drilling results''and I am expecting them  shortly.' If they had had outstanding results from June 25 th to early September  we would have been ...more  
Comment by makingdough on Sep 02, 2015 9:23pm
I've got that same feeling that something is up Bossu, that's why I got out a few weeks ago after many years. Still watching it, and if they release some great drill results, I may get back in. I may miss .10 cents of the bump, but I'm ok with that.  I'm perplexed by the lack of articulating their vision with the acquisition (kind of out of the blue) but also how quiet Tony ...more  
Comment by Rescue9 on Sep 03, 2015 12:07am
You either believe in gold or you don't.Get off of Tony's back and do your own DD.Does LSG have a future making a profit mining gold in the Timmins area?I believe they will be very successful. R9.
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