On
The Company's board of directors (the "Board"), in consultation with its legal counsel and financial advisors, is reviewing the Gran Colombia Proposal to determine if it constitutes a "Superior Proposal" as defined in the Arrangement Agreement. The Board will provide an update to shareholders regarding its determination in due course and does not intend to provide further updates or comments with respect to the foregoing except as required by the terms of the Arrangement Agreement or by law.
The Arrangement Agreement remains in effect and the Board has not changed its recommendation in support of the transaction with Silvercorp. There can be no assurance that the Gran Colombia Proposal will result in termination of the Arrangement Agreement and the execution of a definitive agreement with Gran Colombia.
Shareholders who have questions regarding the Arrangement Agreement with Silvercorp should contact the Company's strategic shareholder advisor and proxy solicitation agent
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Forward-Looking Information
This news release contains "forward-looking information" and "forward-looking statements" (together, "forward-looking statements") within the meaning of applicable securities laws. Forward-looking statements may include, but are not limited to, statements and information with respect to the arrangement with Silvercorp and statements in respect of the Gran Colombia Proposal. Often, but not always, forward-looking statements can be identified by the use of words and phrases such as "plans," "expects," "is expected," "budget," "scheduled," "estimates," "forecasts," "intends," "anticipates," or "believes" or variations (including negative variations) of such words and phrases, or state that certain actions, events or results "may," "could," "would," "should", "might" or "will" be taken, occur or be achieved. Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made and are based on various assumptions.
Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Such factors include, among others: the Company's ability to complete the arrangement with Silvercorp and the conditions precedent thereto; general business, economic, competitive, political, health and social uncertainties; the actual results of exploration and development activities; accidents, labour disputes and other risks of the mining industry; political instability and Government action; as well as those factors discussed in the sections entitled "Risk Factors" in the Company's management discussion and analysis for the year ended
Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. Forward-looking statements contained herein are made as of the date of this news release and the Company disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results, except as may be required by applicable securities laws. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements.
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