VANCOUVER, BC, Aug. 12, 2020 /CNW/ - Evrim Resources Corp.
(TSXV: EVM) ("Evrim" or the "Company") is pleased to announce the
results of its Annual and Special General Meeting (the "Meeting")
held today. All resolutions voted on at the Meeting were
overwhelmingly approved with over 99% support.
At the Meeting, Evrim's shareholders approved the Company's
previously announced merger transaction with Renaissance Gold Inc.
(TSX.V:REN, OTCQB:RNSGF) ("RenGold") pursuant to a plan of
arrangement (the "Arrangement"). Under the terms of the
Arrangement, each outstanding RenGold common share (each, a
"RenGold Share") will be exchanged for 1.2448 Evrim common shares
(each, an "Evrim Share"), which will result in RenGold shareholders
immediately prior to the Arrangement holding 50% of the issued and
outstanding shares Evrim Shares immediately following the
Arrangement. Further pursuant to the Arrangement, outstanding
RenGold stock options and RenGold Share purchase warrants will be
exchanged for replacement options to acquire Evrim Shares and
replacement warrants to acquire Evrim Shares each giving effect to
the same exchange ratio. The resolution approving the merger
transaction with RenGold was approved by 99.9% of the votes cast by
Evrim shareholders.
Completion of the Arrangement remains subject to approval of the
Supreme Court of British Columbia
and certain other customary closing conditions. The application for
the final order of the Supreme Court of British Columbia is scheduled for August 17, 2020. Assuming that all conditions to
closing of the Arrangement are satisfied or waived, the Arrangement
is expected to become effective on or about August 18, 2020.
At the Meeting, Evrim's shareholders also approved the
re-election of directors, the appointment of Smythe LLP as auditors
of the Company and the Company's Stock Option Plan.
It is anticipated that upon the completion of the Arrangement
Paddy Nicol and John Thompson will
resign as directors to facilitate the appointment of nominees of
Renaissance. Furthermore, the Company will change its name to
Orogen Royalties Inc. ("Orogen"). Paddy
Nicol will remain as President and CEO of Orogen.
Additional information regarding the terms of the Arrangement is
set out in Evrim's management information circular dated
July 8, 2020, which is filed under
the Company's SEDAR profile at www.sedar.com.
About Evrim Resources
Evrim Resources Corp. is a mineral exploration company who, on
June 10, 2020, announced a
merger-of-equals combination with Renaissance Gold, Inc. to form a
new royalty business named Orogen Royalties Inc. ("Orogen"). Orogen
will focus on project generation as has been the history of both
Evrim and Renaissance but with a renewed focus on organic royalty
creation and royalty acquisition. Underpinning Orogen's royalty
portfolio is the Ermitaño West gold deposit in Sonora, Mexico (2% NSR) being developed by
First Majestic Silver Corp. and planned to be in production in
2021, and the Silicon gold project (1% NSR) in Nevada, USA, being advanced by AngloGold
Ashanti SA. The transaction is expected to close around
August 18, 2020.
On Behalf of the Board
EVRIM RESOURCES CORP.
Paddy Nicol
President & CEO
To find out more about Evrim Resources Corp., please contact
Paddy Nicol, President & CEO at
604-248-8648, and Liliana Wong,
Manager of Marketing and Investor Relations at 604-248-8648. Visit
our website at www.evrimresources.com and www.rengold.com.
Forward Looking Information
This news release includes certain statements that may be deemed
"forward looking statements". All statements in this presentation,
other than statements of historical facts, that address events
or developments that Evrim Resources Corp. (the "Company") expect
to occur, are forward looking statements. Forward looking
statements are statements that are not historical facts and are
generally, but not always, identified by the words "expects",
"plans", "anticipates", "believes", "intends", "estimates",
"projects", "potential" and similar expressions, or that events or
conditions "will", "would", "may", "could" or "should" occur.
Forward looking information relates to statements concerning the
Company's future outlook and anticipated events or results, as well
as the Company's management expectations with respect to the
proposed business combination (the "Transaction"). This document
also contains forward-looking statements regarding the anticipated
completion of the Transaction and timing thereof. Forward-looking
statements in this document are based on certain key expectations
and assumptions made by the Company, including expectations and
assumptions concerning the receipt, in a timely manner, of
regulatory and stock exchange approvals in respect of the
Transaction.
Although the Company believes the expectations expressed in such
forward looking statements are based on reasonable assumptions,
such statements are not guarantees of future performance and actual
results may differ materially from those in the forward looking
statements. Factors that could cause the actual results to differ
materially from those in forward looking statements include market
prices, exploitation and exploration successes, and continued
availability of capital and financing, and general economic, market
or business conditions. Furthermore, the extent to which COVID-19
may impact the Company's business will depend on future
developments such as the geographic spread of the disease, the
duration of the outbreak, travel restrictions, physical distancing,
business closures or business disruptions, and the effectiveness of
actions taken in Canada and other
countries to contain and treat the disease. Although it is not
possible to reliably estimate the length or severity of these
developments and their financial impact as of the date of approval
of these condensed interim consolidated financial statements,
continuation of the prevailing conditions could have a significant
adverse impact on the Company's financial position and results of
operations for future periods.
Investors are cautioned that any such statements are not
guarantees of future performance and actual results or developments
may differ materially from those projected in the forward looking
statements. Forward looking statements are based on the beliefs,
estimates and opinions of the Company's management on the date the
statements are made. Except as required by securities laws, the
Company undertakes no obligation to update these forward looking
statements in the event that management's beliefs, estimates or
opinions, or other factors, should change.
Neither TSX Venture Exchange nor its Regulation
Services Provider (as that term is defined in the policies of the
TSX Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
SOURCE Evrim Resources Corp.
