VANCOUVER, BC, Sept. 8,
2022 /PRNewswire/ - Aris Gold
Corporation (Aris Gold or the Company) (TSX: ARIS) (OTCQX:
ALLXF) announces the receipt of positive recommendations in support
of the business combination with GCM Mining announced on
July 25, 2022, from two independent
proxy advisory firms, Institutional Shareholder Services (ISS) and
Glass Lewis & Co., LLC (Glass Lewis). The Aris Gold shareholder
meeting to approve the transaction is scheduled for September 19, 2022.
ISS and Glass Lewis are leading independent, third-party proxy
advisory firms who provide voting recommendations to pension funds,
investment managers, mutual funds, and other institutional
shareholders.
In making the recommendation, ISS commented:
"The transaction makes strategic sense as the arrangement
will create a combined company with a balanced portfolio of
operating and development assets with increased scale and
diversification, significant free cash flow to unlock shareholder
value, including potential cost reduction synergies of
approximately $10 million per year.
In addition, the at-market-value merger is expected to provide the
combined company with an opportunity to re-rate its share price,
improved balance sheet and enhanced capital markets
profile."
Glass Lewis commented:
"The proposed transaction is predicated on sound rationale
and is the result of a thorough review by the GCM and Aris Gold
boards. In the prevailing market and commodity price environment, a
merger involving strategically and geographically complementary
assets, such as the proposed transaction, often represents a
mutually beneficial path for resource companies to achieve greater
scale, asset diversification and potential synergies as they strive
to reduce costs and deliver greater returns and incremental value
for shareholders."
Shareholder meeting
The Aris Gold shareholder meeting will be held virtually on
September 19, 2022 at 10am PT/1pm ET via
live audio webcast at https://web.lumiagm.com/294-900-287.
Aris Gold shareholders requiring assistance may contact Aris
Gold's proxy solicitation agent, Laurel Hill Advisory Group, as
follows:
toll-free North America
1-877-452-7184
collect outside of North America
at 1-416-304-0211
e-mail at assistance@laurelhill.com.
About Aris Gold
Aris Gold is a Canadian mining company listed on the TSX under
the symbol ARIS and on the OTCQX under the symbol ALLXF. The
Company is led by an executive team with a demonstrated track
record of creating value through building globally relevant gold
mining companies. In Colombia,
Aris Gold operates the 100%-owned Marmato mine, where a
modernization and expansion program is under way, and as of
April 12, 2022, operates the Soto
Norte joint venture, where environmental licensing is advancing to
develop a new gold mine. Aris Gold also owns the Juby project, an
advanced exploration stage gold project in the Abitibi greenstone
belt of Ontario, Canada. Aris Gold
plans to pursue acquisition and other growth opportunities to
unlock value creation from scale and diversification.
Additional information on Aris Gold can be found at
www.arisgold.com and www.sedar.com.
Forward-looking
Information
This news release contains "forward-looking information" or
forward-looking statements" within the meaning of Canadian
securities legislation. All statements included herein are
forward-looking, other than statements of historical fact,
including without limitation statements relating to the Aris Gold
shareholder meeting and the expected and potential synergies to be
realized from the transaction. Generally, the forward-looking
information and forward-looking statements can be identified by the
use of forward-looking terminology such as "plans", "expects" or
"does not expect", "is expected", "budget", "scheduled",
"estimates", "forecasts", "intends", "anticipates" or "does not
anticipate", "will continue" or "believes", or variations of such
words and phrases or state that certain actions, events or results
"may", "could", "would", "might" or "will" be taken, occur or be
achieved. Statements concerning mineral resource estimates may also
be deemed to constitute forward-looking information to the extent
that they involve estimates of the mineralization that will be
encountered. The material factors or assumptions used to develop
forward-looking information or statements are disclosed throughout
this news release.
Forward-looking information and forward-looking statements,
while based on management's best estimates and assumptions, are
subject to known and unknown risks, uncertainties and other factors
that may cause the actual results, level of activity, performance
or achievements of GCM Mining, Aris Gold and the resulting entity
to be materially different from those expressed or implied by such
forward-looking information or forward-looking statement
Although GCM Mining and Aris Gold have attempted to identify
important factors that could cause actual results to differ
materially from those contained in forward-looking information and
forward-looking statements, there may be other factors that cause
results not to be as anticipated, estimated or intended. There can
be no assurance that such information or statements will prove to
be accurate, as actual results and future events could differ
materially from those anticipated in such information or
statements. The forward-looking statements and forward-looking
information are made as of the date hereof and each of GCM Mining
and Aris Gold disclaims any obligation to update any such factors
or to publicly announce the result of any revisions to any of the
forward-looking statements or forward-looking information contained
herein to reflect future results. Accordingly, readers should not
place undue reliance on forward-looking statements and
information.
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SOURCE Aris Gold Corporation