Shareholders approve Arizona Gold/Golden Predator merger

The Brewery Creek gold mine in the Yukon Territory. Source: Golden Predator Mining Corp.

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Shareholders of both Arizona Gold Corp. [AZG-CSE; AGAUF-OTCQB] and Golden Predator Mining Corp. [GPY-TSXV; NTGSF-OTC] have overwhelmingly approved all matters voted on at Arizona’s special meeting, as well as at Golden Predator’s special meeting, including the proposed acquisition by Arizona of all of the outstanding common shares of Golden Predator by way of a proposed merger pursuant to the terms and conditions of an agreement dated June 28, 2021.

Subject to the satisfaction or waiver of the remaining conditions to the arrangement, including approval of the arrangement by the B.C. Supreme Court, which application will be heard on August 30, 2021, closing of the arrangement is expected to occur on September 2, 2021.

Under the terms of the arrangement, all of the issued and outstanding common shares of Golden Predator will be exchanged for common shares of Arizona on the basis of 1.65 common shares of Arizona per common share of Golden Predator. Following completion of the arrangement, current Arizona shareholders and former Golden Predator shareholders will own approximately 55% and 45% of the combined company common shares, respectively.

Arizona also intends to proceed with a name change to Sabre Gold Mines Corp. in connection with the closing of the arrangement. The common shares of the new Sabre Gold are expected to trade under the ticker symbol SGLD on the Toronto Stock Exchange. The company expects to begin trading under its new name on the OTCQB and under a new ticker symbol by the middle of September, 2021, until which time the company will continue to trade under the current OTCQB symbol AGAUF. A new website for the combined company will also be launched in early September.

Golden Predator shares are expected to be delisted from the TSX Venture Exchange, and an application will be made for Golden Predator to cease to be a reporting issuer on the date of closing of the arrangement.

Arizona Gold is an emerging American gold producer, advancing the restart of production at its 100%-owned, fully permitted, past-producing Copperstone mine project in Arizona. The company’s current focus is on maximizing Copperstone’s potential by defining and expanding current resources and further optimizing the mine’s economics for purposes of the restart of gold production in the near term as a result of the recent project financing transaction with Star Royalties Ltd.

Golden Predator is advancing the past-producing Brewery Creek mine toward a timely resumption of mining activities in Canada’s Yukon. The project has established resources grading over 1.0 g/t gold and both a technical report and bankable feasibility study under way to define the economics of a restart of heap leach operations at the Brewery Creek mine.


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