CRANBROOK, BC / ACCESSWIRE / December 9, 2021 / Taiga Gold Corp. (CSE:TGC) ("Taiga Gold" or the "Company") shareholders approved all matters put before them at the Company's Annual and Special Meeting held on December 8th, 2021
- Reelected the following directors of the Company for the ensuing year: Timothy J. Termuende, Charles C. Downie, Glen J. Diduck, Darren B. Fach, Jesse T. Campbell and Paul Reynolds;
- Appointed Crowe MacKay LLP as the auditors of the Company for the ensuing year;
- Passed a resolution approving the renewal of the Company's Stock Option Plan;
On December 2nd, 2021, SSR Mining Inc. (NASDAQ/TSX: SSRM, ASX: SSR) ("SSR Mining") and Taiga Gold jointly announced that SSR Mining will acquire all of the issued and outstanding common shares of Taiga Gold (the "Transaction") at a price of C$0.265 per Taiga Gold share in cash. The Transaction implies an equity value of approximately C$27 million (US$21 million) on a fully diluted in-the-money basis and has been unanimously approved by the board of directors of each of SSR Mining and Taiga Gold.
The Transaction will be effected by way of a court-approved plan of arrangement under Section 193 of the Business Corporations Act (Alberta) and will require:
- approval of at least 662/3 % of the votes cast by Taiga Gold shareholders; and
- a simple majority of the votes cast by Taiga Gold shareholders, excluding votes from certain shareholders, as required under Multilateral Instrument 61-101 - Protection of Minority Securityholders in Special Transactions.
Taiga Gold intends to call a meeting of shareholders to be held on or before March 15, 2022 to seek shareholder approval for the Transaction (the "Meeting"). The completion of the Transaction is also subject to the receipt of court, stock exchange and any other required regulatory approvals, and is subject to certain customary closing conditions for transactions of this nature. The Transaction does not require the approval of the shareholders of SSR Mining.
About Taiga Gold
Taiga Gold was created through a plan of arrangement with Eagle Plains Resources Ltd. in April 2018 and owns 6 projects targeting gold located within the Trans-Hudson Corridor in the region near the Seabee Gold Operation, owned and operated by SSR Mining. Taiga's flagship Fisher property is currently being explored by the Fisher Joint Venture between SSR Mining and Taiga. Taiga's 100% owned SAMproperty is currently under option to partner Tactical Resources (formerly DJ1 Capital). Taiga Gold continues to advance its 100% owned Orchid and Mari Lake projects.
Tim Termuende, P. Geo, President and Chief Executive Officer said "throughout the exploration and development process, our mission is to help maintain prosperous communities by exploring for and discovering resource opportunities while building lasting relationships through honest and respectful business practices."
Taiga Gold's objective is to focus on the exploration and development of its gold projects located adjacent to the Seabee Gold Operation and along the Tabbernor Fault structure in eastern Saskatchewan, a highly prospective mining jurisdiction recently recognized by the Fraser Institute as one of the best places in the world in terms of Investment Attractiveness.
On behalf of the Board of Directors
"Tim J. Termuende"
President and CEO
For further information on TGC, please contact Mike Labach at
1 866 HUNT ORE (486 8673)
Email: info@taigagold.com or visit our website at http://taigagold.com
Cautionary Note Regarding Forward-Looking Statements
Neither the CSE nor any other regulatory body has reviewed or approved the contents of this news release. This news release may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming financings, work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore, involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements.
SOURCE: Taiga Gold Corp.
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