McEwen Mining Inc. and Lexam VG Gold Inc. Announce Closing of Arrangement
April 27 2017 - 4:58PM
McEwen Mining Inc. (NYSE:MUX) (TSX:MUX) and
Lexam VG Gold Inc. (TSX:LEX) (OTCQX:LEXVF) are pleased to announce
the successful completion of the previously announced plan of
arrangement (the "
Arrangement").
Share owners of Lexam approved the Arrangement
on April 12, 2017 and a final order approving the Arrangement was
issued by the Ontario Superior Court of Justice on April 19,
2017.
Lexam is now a subsidiary of McEwen Mining and
the common shares of Lexam will be delisted from the TSX on May
1st, 2017.
Pursuant to the Arrangement, share owners of
Lexam received 0.056 shares of the McEwen Mining for each Lexam
share held prior to the arrangement. As a result, McEwen Mining has
311,871,121 shares outstanding.
Conversion of Lexam Shares
Share owners whose Lexam shares are held by a
broker, agent or other intermediary should contact their broker or
agent in respect of the exchange of their shares pursuant to the
Arrangement.
Registered holders of Lexam shares must deposit
their certificates with a completed Letter of Transmittal in order
to receive their McEwen Mining shares, as set forth in the
information circular of Lexam dated April 12, 2017. The Letter of
Transmittal was mailed to registered shareholders together
with the meeting materials for the Lexam meeting and it is also
available on Lexam’s website at
http://www.lexamvggold.com/ProxyCircular2017.php or under Lexam’s
profile on www.sedar.com.
Certificates formerly representing Lexam shares
now represent only the right to receive McEwen Mining common stock
to which the holders are entitled pursuant to the Arrangement.
For further information on the Arrangement, or
to obtain a copy of the meeting materials for the Lexam meeting,
please visit Lexam’s website at
http://www.lexamvggold.com/ProxyCircular2017.php. Copies of these
documents are also available under Lexam’s profile on
www.sedar.com.
The NYSE and TSX have not reviewed and do not
accept responsibility for the adequacy or accuracy of the contents
of this news release.
CONTACT INFORMATION: |
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Mihaela
IancuInvestor Relations647-258-0395 ext.
320info@mcewenmining.com |
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Christina
McCarthyDirector of Corporate Development647-258-0395 ext.
390cd@mcewenmining.com |
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150 King Street
WestSuite 2800, P.O. Box 24Toronto, ON, Canada, M5H
1J91-866-441-0690 |
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