The purpose of the Meeting is to seek the Balmoral Securityholders' approval in connection with the previously announced proposed acquisition by
Balmoral Securityholders of record as at
Balmoral encourages its securityholders to watch for, or request from their financial advisor, the meeting materials and to read them in detail. For Balmoral Securityholders to ensure that their
Balmoral provides notice that because of the ongoing COVID-19 pandemic, and the constantly evolving restrictions on the size of public gatherings that are beyond its control, attending and voting in person at the Meeting may be difficult. The Company encourages securityholders to vote in advance of the Meeting by proxy via the internet, phone, fax or mail. The Company will provide an option for registered Balmoral Securityholders (or their proxyholders) to participate online and to vote their
The Proposed Transaction
On
Board Recommendation
The Balmoral Board of Directors, after consideration of the recommendation of the Special Committee of the Board comprised exclusively of Independent Directors, its external financial and legal advisors and receipt of an Independent Fairness Opinion which, among other things, indicated that, subject to certain assumptions outlined therein, the Proposed Transaction was fair from a financial point of view to Balmoral and the Balmoral Shareholders, has unanimously approved the Arrangement Agreement and recommends that the Balmoral Securityholders vote their
Benefits of the Transaction
The Proposed Transaction will result in one of the best financed junior exploration and development companies in
Balmoral Special Meeting
The Meeting of Balmoral Securityholders to consider and, if thought fit, to approve the Proposed Transaction, will be held on
Balmoral Securityholder Questions and Assistance
Balmoral Securityholders who have any questions or require assistance in voting their
About
Balmoral is a multi-award winning Canadian-focused exploration company exploring a portfolio of gold and base metal properties located within the prolific Abitibi greenstone belt. The Company's flagship
Contact:
Tel: (604) 638-5816
Email: dwagner@balmoralresources.com
This press release contains statements which constitute 'forward-looking information' within the meaning of applicable securities laws, including statements regarding the plans, intentions, beliefs and current expectations of Balmoral with respect to future business activities and operating performance. Forward-looking information is often identified by the words 'may', 'would', 'could', 'subject to', 'should', 'will', 'intend', 'plan', 'anticipate', 'believe', 'estimate', 'expect' or similar expressions and include information regarding: (i) expectations regarding whether the Proposed Transaction will be consummated, including whether conditions to the consummation of the Proposed Transaction will be satisfied, or the timing for completing the Proposed Transaction, (ii) expectations regarding the potential benefits and synergies of the Proposed Transaction and the ability of the combined company to successfully achieve business objectives, including integrating the companies or the effects of unexpected costs, liabilities or delays, (iii) expectations with respect to the timing and location of the Meeting, (iv) expectations regarding financial strength, trading liquidity, and capital markets profile, (v) expectations regarding future exploration and development, growth potential for the combined companies operations, (vi) the availability of the exemption under Section 3(a)(10) of the
Investors are cautioned that forward-looking information is not based on historical facts but instead reflect with respect to the potential completion and benefits of the Proposed Transaction, Wallbridge's and Balmoral'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 Wallbridge and Balmoral each believe 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 the combined company. 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 consummate the Proposed Transaction; the ability to obtain requisite court, regulatory and securityholder approvals and the satisfaction of other conditions to the consummation of the Proposed Transaction on the proposed terms and schedule; the ability of Wallbridge and Balmoral to successfully integrate their respective operations and employees and realize synergies and cost savings at the times, and to the extent, anticipated; the potential impact on exploration activities; the potential impact of the announcement or consummation of the Proposed Transaction on relationships, including with regulatory bodies, employees, suppliers, customers and competitors; the re-rating potential following the consummation of the Proposed Transaction; changes in general economic, business and political conditions, including changes in the financial markets; changes in applicable laws; compliance with extensive government regulation; unquantifiable risks related to government actions and interventions, supply chain disruptions and disruptions, enhanced uncertainty in global financial markets and the current suspension of Balmoral's and Wallbridge's exploration activities as a result of the current COVID-19 pandemic and the diversion of management time on the Proposed Transaction. This forward-looking information may be affected by risks and uncertainties in the business of Wallbridge and Balmoral and market conditions. This information is qualified in its entirety by cautionary statements and risk factor disclosure contained in filings made by Wallbridge and Balmoral with the Canadian securities regulators, including Wallbridge's and Balmoral's respective annual information forms, financial statements and related MD&A for the financial year ended
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