The Board of Directors of Nova recommends that Shareholders vote IN FAVOUR of the Arrangement Resolution
Shareholders are encouraged to vote in advance of the Special Meeting on
TSXV: NOVR
OTCQB: NOVRF
As previously announced, on
The Meeting has been called for Shareholders to vote on a special resolution (the "Arrangement Resolution") approving the Arrangement. The Arrangement Resolution requires approval of (i) at least 66⅔% of the votes cast by the Shareholders; and (ii) a simple majority of the votes cast by disinterested Shareholders, as required pursuant to Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions, as further described in the Circular.
In addition to the receipt of the requisite approval of the Shareholders, the completion of the Arrangement is subject to receipt of final approvals of the Court,
The Arrangement was unanimously recommended to Nova's Board of Directors (the "Board") by the special committee comprised solely of independent directors of Nova (the "Special Committee"). The Board (excluding certain conflicted directors) has unanimously recommended that Shareholders vote FOR the Arrangement Resolution at the Meeting. The Board and the Special Committee have determined that the Arrangement and entry into the Arrangement Agreement is in the best interests of Nova and that the Arrangement is fair, from a financial point of view, to Shareholders.
YOUR VOTE IS IMPORTANT REGARDLESS OF THE NUMBER OF SHARES YOU OWN
Shareholders are encouraged to read the Circular in its entirety and vote their
The deadline for voting
The Circular includes full details on the Arrangement and related matters, including the background to the Arrangement, voting procedures, benefits of the Arrangements, risk factors, the recommendations of the Board and the Special Committee, and the various factors considered by the Board and the Special Committee in making their respective recommendations.
Shareholder Questions and Voting Assistance
The Company has retained
About
On Behalf of
Interim CEO
Phone: (647) 970-4113
Website: www.novaroyalty.com
Neither the
Cautionary Note Regarding Forward-Looking Statements
This press release contains "forward-looking information" and "forward-looking statements" within the meaning of applicable securities legislation (collectively referred to herein as "forward-looking statements"). The forward-looking statements herein are made as of the date of this press release only, and the Company does not assume any obligation to update or revise them to reflect new information, estimates or opinions, future events or results or otherwise, except as required by applicable law. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budgets", "scheduled", "estimates", "forecasts", "predicts", "projects", "intends", "targets", "aims", "anticipates" or "believes" or variations (including negative variations) of such words and phrases or may be identified by statements to the effect that certain actions "may", "could", "should", "would", "might" or "will" be taken, occur or be achieved. Forward-looking statements in this press release include: statements with respect to the Arrangement, including the expected timing of closing and various steps to be completed in connection with the Arrangement; receipt of Shareholder approval in respect of the Special Resolution; Court, stock exchange and other regulatory approvals and conditions provided in the Arrangement Agreement; and other statements that are not historical facts. Forward-looking statements and information are subject to various known and unknown risks and uncertainties, many of which are beyond the ability of Nova to control or predict, that may cause Nova's actual results, performance or achievements to be materially different from those expressed or implied thereby, and are developed based on assumptions about such risks, uncertainties and other factors set out herein, including, but not limited to, the Company not obtaining the final order, or Shareholder or stock exchange approvals; all conditions to completion of the Arrangement not being satisfied or waived and the Arrangement not being completed as anticipated; and the risk factors set out under the heading "Risk Factors" in the Company's annual information form dated
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