VANCOUVER, BC and TORONTO, Feb. 16,
2024 /CNW/ - Gold Line Resources
Ltd. ("Gold Line") (TSXV: GLDL) is
pleased to announce that at a special meeting of shareholders of
Gold Line (the "Gold Line Shareholders") held
yesterday, February 15, 2024 (the
"Meeting"), the Gold Line Shareholders voted overwhelmingly
in favour of the resolution (the "Gold Line Shareholder
Resolution") approving the proposed arrangement with Barsele
Minerals Corp. (TSXV: BME) ("Barsele") by way of a
court-approved plan of arrangement (the
"Arrangement"). Pursuant to the Arrangement, among
other things, Barsele will acquire all of the issued and
outstanding Gold Line common shares (the "Gold Line Shares")
in consideration for 0.7382 of a common share of Barsele for each
Gold Line Share held.
19,952,057 Gold Line Shares, representing 42.21% of the issued
and outstanding Gold Line Shares as at the record date, were voted
at the Meeting. The Gold Line Shareholder Resolution was approved
by approximately 99.98% of votes cast by Gold Line Shareholders
either in person (virtually) or represented by proxy at the
Meeting.
The Arrangement is expected to be completed on or about
February 23, 2024, subject to the
approval by the Supreme Court of British
Columbia and the satisfaction or waiver of certain other
closing conditions. The hearing for the final order of the Supreme
Court of British Columbia to
approve the Arrangement is scheduled to take place on February 20, 2024.
For a more detailed description of the Arrangement, please refer
to Gold Line's management information circular dated January 17, 2024, which is available under Gold
Line's profile on SEDAR+ at www.sedarplus.ca.
ON BEHALF OF THE BOARD
"Taj Singh"
Taj Singh, President & CEO and Director
About Gold Line Resources
Ltd.
Gold Line is focused on acquiring mineral properties with
exceptional exploration potential in the most prolific
gold-producing regions of Sweden
and Finland, both regarded as
top-tier mining jurisdictions and emerging exploration frontiers.
Both countries possess prospective mineral endowments, stable
tenures, straightforward permitting, favorable tax regimes and
supportive geopolitical landscapes. Gold Line's Swedish projects
are located in the Gold Line Mineral Belt and Skellefteå Belt of
north-central Sweden and the
Mjøsa-Vänern Belt in the southwest. In Finland, Gold Line holds the entire
underexplored Oijärvi Greenstone Belt located in the north of the
country.
Cautionary Note Regarding Forward
Looking Information
This press release contains statements which constitute
"forward-looking information" within the meaning of applicable
securities laws, including statements regarding the terms and
conditions of the Arrangement, timing for the hearing for the final
order of the Supreme Court of British
Columbia to approve the Arrangement and the timing and
ability of Gold Line to complete the Arrangement. Forward-looking
information is often identified by the words "may", "would",
"could", "should", "will", "intend", "plan", "anticipate",
"believe", "estimate", "expect" or similar expressions.
Investors are cautioned that forward-looking information is not
based on historical facts but instead reflect Gold Line's
respective management's expectations, estimates or projections
concerning future results or events based on the opinions,
assumptions and estimates of management considered reasonable at
the date the statements are made. Although Gold Line believes that
the expectations reflected in such forward-looking information are
reasonable, such information involves risks and uncertainties, and
undue reliance should not be placed on such information, as unknown
or unpredictable factors could have material adverse effects on
future results, performance or achievements of Gold Line. Among the
key factors that could cause actual results to differ materially
from those projected in the forward-looking information are the
following: the ability to obtain necessary approvals in respect of
the Arrangement, the ability to consummate the Arrangement,; the
ability to obtain requisite court approvals and the satisfaction of
other conditions to the consummation of the Arrangement on the
proposed terms and schedule; the potential impact on exploration
activities; the potential impact of the announcement or
consummation of the Arrangement on relationships, including with
regulatory bodies, employees, suppliers, customers and competitors;
the re-rating potential following the consummation of the
Arrangement; changes in general economic, business and political
conditions, including changes in the financial markets; changes in
applicable laws; compliance with extensive government regulation;
and the diversion of management time on the Arrangement. This
forward-looking information may be affected by risks and
uncertainties in the business of Gold Line and market conditions.
This information is qualified in its entirety by cautionary
statements and risk factor disclosure contained in filings made by
Gold Line with the Canadian securities regulators, including Gold
Line's financial statements and related management's discussion and
analysis for the financial year ended December 31, 2022 and its interim financial
reports and related management's discussion and analysis for the
period ended September 30, 2023 filed
with the securities regulatory authorities in certain provinces of
Canada and available at
www.sedarplus.ca.
Should one or more of these risks or uncertainties materialize,
or should assumptions underlying the forward-looking information
prove incorrect, actual results may vary materially from those
described herein as intended, planned, anticipated, believed,
estimated or expected. Although Gold Line has attempted to identify
important risks, uncertainties and factors which could cause actual
results to differ materially, there may be others that cause
results not to be as anticipated, estimated or intended, and do not
assume any obligation, to update this forward-looking information
except as otherwise required by applicable law.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of
this release.
SOURCE Gold Line Resources Ltd.