VANCOUVER, BC, Nov. 4, 2022
/CNW/ - Great Panther Mining Limited (OTCPK: GPLDK) ("Great
Panther" or the "Company") announces that the Supreme Court of
British Columbia (the "Court"), on
application of the Company, has issued a court order (the "SISP
Order") granting approval of the Company's proposed Sales and
Investment Solicitation Process (the "SISP") involving it and,
among others, and its wholly-owned subsidiary Mina Tucano Ltda.
The SISP Order, among other things, approves (i) the SISP with
respect to Great Panther and the majority of its present and
after-acquired assets, undertakings, and properties, and (ii) the
appointment of RBC Capital Markets ("RBC") as the Company's sale
advisor under the SISP.
The purpose of the SISP is to maximize the value of the Company
and its subsidiaries' (the "Group's") property for the benefit of
all of its stakeholders, whether pursuant to an asset or share
purchase transaction, restructuring, recapitalization or other form
of reorganization of the business, property or affairs of the
Group, including but not limited to the Group's debt, share, or
capital structure, or some combination thereof.
The SISP contemplates a two-phase process, where the first phase
("Phase 1") will involve a broad marketing process ending with the
submission of non-binding indicative offers, and the second phase
("Phase 2") will involve a further opportunity for due diligence
followed by the submission of binding bids. The SISP will primarily
be conducted over a marketing period of approximately twelve (12)
weeks in the aggregate, with Phase 1 occurring over a period of
five (5) weeks.
In order to participate in the SISP and obtain access to a
virtual data room, all interested parties must comply with the
terms and conditions set forth in the SISP Order and other related
documents, which are available on the court monitor's website at
https://www.alvarezandmarsal.com/GPR. Parties interested in
participating in the SISP should contact RBC at the following email
address:
RBC Dominion Securities Inc.
Suite 2100, 666 Burrard Street
Vancouver, BC V6C 2X8
Attention: Michael D. Scott / Scott
Redwood
Email:
Michael.D.Scott@rbccm.com /
scott.redwood@rbccm.com
ABOUT GREAT PANTHER
Great Panther Mining is a precious metals producer focused on
the operation of the Tucano Gold Mine in Brazil where the Company controls a land
package covering nearly 200,000 hectares in the prospective Vila
Nova Greenstone belt.
CAUTIONARY STATEMENT ON FORWARD-LOOKING
INFORMATION
This news release contains forward-looking statements within the
meaning of the United States Private Securities Litigation Reform
Act of 1995 and forward-looking information within the meaning of
Canadian securities laws (together, "forward-looking statements").
Such forward-looking statements include but are not limited to the
Company's intention to complete the SISP within the timelines
contemplated and its ability to maximize the value of the Company's
property for the benefit of all stakeholders.
These forward-looking statements and information reflect the
Company's current views with respect to future events and are
necessarily based upon a number of assumptions that, while
considered reasonable by the Company, are inherently subject to
significant procedural, operational, business, economic and
regulatory risks and uncertainties, including risks related to the
restructuring process and its impact on the Company's operations
and financial conditions, uncertainty regarding the ability to
obtain protection against all collection and enforcement actions
during the judicial reorganization proceedings, uncertainty
regarding the Company's ability to identify and pursue strategic
alternatives that will maximize stakeholder value, the Company's
and RBC's ability to attract investors to participate in the SISP,
and the risks described in respect of Great Panther in its most
recent annual information form and management's discussion and
analysis filed with the Canadian Securities Administrators and
available at www.sedar.com and its most recent annual
report on Form 40-F and management's discussion and analysis on
Form 6-K filed with the Securities and Exchange Commission and
available at www.sec.gov.
There is no assurance that these forward-looking statements will
prove accurate or that actual results will not vary materially from
these forward-looking statements. Although the Company has
attempted to identify important factors that could cause actual
results to differ materially, there may be other factors that cause
results not to be as anticipated, estimated, described, or
intended. Accordingly, readers are cautioned not to place undue
reliance on forward looking statements. Forward-looking statements
and information are designed to help readers understand
management's current views of our near- and longer-term prospects
and may not be appropriate for other purposes. The Company does not
intend, nor does it assume any obligation to update or revise
forward-looking statements or information, whether as a result of
new information, changes in assumptions, future events or
otherwise, except to the extent required by applicable
law.
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SOURCE Great Panther Mining Limited
