Aurizon Announces Preliminary Results of Hecla Arrangement Consideration Elections
May 08 2013 - 8:30AM
Marketwired
Aurizon Mines Ltd. (TSX:ARZ)(NYSE MKT:AZK) ("Aurizon" or the
"Company") announces the preliminary results of the consideration
elections under the terms of the Company's previously announced
arrangement with Hecla Mining Company ("Hecla"). Under the
arrangement, Aurizon securityholders were entitled to elect to
receive CAD$4.75 (the "Cash Consideration") or 0.9953 of a Hecla
share (the "Share Consideration") per Aurizon share, subject in
each case to pro-ration based on a maximum cash consideration of
approximately CAD$513.6 million and a maximum of 57,000,000 Hecla
shares.
The results of the elections received prior to the election
deadline of 4:00 p.m. (Toronto time) on May 7, 2013 are as
follows:
-- securityholders representing 148,284,889 Aurizon shares elected to
receive the Cash Consideration, which elections represent
CAD$704,353,223 in aggregate, and
-- securityholders representing 17,300,620 Aurizon shares elected or were
deemed to have elected to receive the Share Consideration, which
elections represent 17,219,307 Hecla shares in aggregate.
Since the aggregate elections for Cash Consideration exceed the
CAD $513.6 million available under the arrangement, securityholders
who elected to receive the Cash Consideration will be subject to
pro-ration in the manner described in Aurizon's management
information proxy circular dated April 10, 2013.
These election results and the resulting effect of pro-ration
are subject to resolution of deficient elections still outstanding
that affect an immaterial number of Aurizon shares, and are also
subject to change if the election date is extended in accordance
with the terms of the arrangement.
Completion of the arrangement is subject to various conditions,
including Hecla receiving approval under the Investment Canada
Act.
Special Meeting
The special meeting of the shareholders and optionholders of
Aurizon to approve the arrangement will be held on May 9, 2013 at
The Vancouver Club, in the University Room, 3rd Floor, 915 West
Hastings Street, Vancouver, BC, V6C 1C6 at 1:00 p.m. (Vancouver
time).
About Aurizon
Aurizon is a gold producer with a growth strategy focused on
developing its existing projects in the Abitibi region of
north-western Quebec, one of the world's most favourable mining
jurisdictions and prolific gold and base metal regions, and by
increasing its asset base through accretive transactions. Aurizon
shares trade on the Toronto Stock Exchange under the symbol "ARZ"
and on the NYSE MKT under the symbol "AZK". Additional information
on Aurizon and its properties is available on Aurizon's website at
www.aurizon.com.
About Hecla
Established in 1891, Hecla believes it is the largest and
lowest-cost primary silver producer in the U.S. The company has two
operating mines and exploration properties in four world-class
silver mining districts in the U.S. and Mexico. Additional
information on Hecla and its properties is available on its website
at http://hecla-mining.com.
Contacts: Investor Contact: Aurizon Mines Ltd. Jennifer North,
Manager Investor Relations 604-687-6600 or Toll Free:
1-888-411-GOLD (4653) 604-687-3932 (FAX)jennifer.north@aurizon.com
/ info@aurizon.com www.aurizon.com Media Contact: Longview
Communications Trevor Zeck (604) 694-6037 Information Agent:
Georgeson Toll Free (North America): 1-888-605-7616 Outside North
America Call Collect: 1-781-575-2422askus@georgeson.com
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