VANCOUVER, Oct. 31, 2018 /CNW/ - Golden Reign Resources
Ltd. ("Golden Reign" or the "Company") (TSXV:GRR), is pleased
to announced that Golden Reign Shareholders who were eligible to
vote on the matter at the Annual and Special Meeting of
Shareholders of the Company held on October
30, 2018 (the "Meeting") overwhelmingly approved the
issuance of Golden Reign common shares (the "Golden Reign Shares")
in connection with the Company's previously announced plan of
arrangement (the "Arrangement") to acquire 100% of the issued and
outstanding common shares of Marlin Gold Mining Ltd.
("Marlin").
Of the total number of eligible Golden Reign Shares represented
at the meeting (which excluded the Golden Reign Shares held by
Marlin), approximately 99.9% were voted FOR the ordinary
resolution to approve the issuance of Golden Reign Shares in
connection with the Arrangement. Each of Marlin and Sailfish
Royalty Corp. ("Sailfish") also held their respective shareholder
meetings on October 30, 2018, at
which eligible shareholders of Marlin voted in favour of the
special resolution approving the Arrangement and eligible
shareholders of Sailfish voted in favour of, among other things,
the special resolution approving the entering into of the
previously announced amended and restated gold stream agreement
with Golden Reign and Marlin, which is a condition to completion of
the Arrangement.
Marlin intends to seek a final order approving the Arrangement
from the Supreme Court of British
Columbia at a hearing to be held on November 1, 2018. In addition to the approval of
the court, the Arrangement is subject to satisfaction of all other
terms and conditions to the Arrangement. It is currently
expected that, subject to receipt of all necessary approvals and
satisfaction of all terms and conditions, the Arrangement will
close by November 9, 2018, and upon
closing the combined company will be named Mako Mining Corp. and
the common shares of the combined company are expected to commence
trading on the TSX Venture Exchange under the new trading symbol
"MKO" within approximately two business days following closing.
Full details of the Arrangement and certain other general
matters dealt with at the Meeting, all of which were also passed by
the Company's shareholders, can be found in the management
information circular of Golden Reign dated September 26, 2018 (the "Circular"). An
electronic copy of the Circular is available under the Company's
profile on SEDAR at www.sedar.com.
Cautionary Note Regarding Forward-Looking Statements
This news release includes certain forward-looking statements or
information under applicable Canadian, U.S. and other securities
laws. Such forward-looking information and statements are often,
but not always, identified by the use of words such as "seek",
"anticipate", "believe", "plan", "estimate", "expect" and "intend"
and statements that an event or result "may", "will", "should",
"could", or "might" occur or be achieved and any other similar
expressions. Such forward-looking information includes, but is not
limited to, statements with respect to the receipt of the final
order of the Supreme Court of British
Columbia approving the Arrangement, satisfaction of the
terms and conditions of the Arrangement and anticipated completion
of the Arrangement. These forward-looking statements are based on a
number of assumptions, including assumptions regarding the ability
of the parties to receive, in a timely manner and on satisfactory
terms, the necessary court, stock exchange and regulatory approvals
and the ability of the parties to satisfy in a timely manner, the
conditions to the closing of the Arrangement. Management believes
that these assumptions are reasonable; however, some risks include,
but are not limited to, non-completion of the Arrangement,
including due to the parties failing to receive, in a timely manner
and on satisfactory terms, the necessary court and stock exchange
approvals or the inability of the parties to satisfy in a timely
manner the other conditions to the closing of the Arrangement.
Forward-looking information is subject to known and unknown risks,
uncertainties and other factors that could cause actual results to
differ materially from those contained in the forward-looking
information. Some of these risks, uncertainties and other factors
are described under the heading "Risk Factors" in the Circular
available at www.sedar.com. Forward-looking information is
based on estimates and opinions of management at the date the
statements are made. Except as required by applicable law, the
Company does not undertake any obligation to update forward-looking
information. Readers should not place undue reliance on
forward-looking information.
About Golden Reign
Golden Reign Resources Ltd. is a publicly listed (TSX-V: GRR)
mineral exploration company engaged in exploring the San
Albino-Murra Property and the El Jicaro Property, both of which are
located in Nueva Segovia,
Nicaragua. The company's prime objective is to bring its San
Albino Gold Deposit into production quickly and efficiently,
building cash flow to further advance a number of its other
prospective exploration targets. The Company's land package
comprises 13,771 hectares (138 km2) of prospective ground for gold
and silver mineralization. Hundreds of historical mines and
workings exist within the Corona de Oro Gold Belt, which is
approximately 3 kilometres wide by 20 kilometres long and is
spanned by the company's land package. For additional information
please visit our website at www.goldenreign.com and SEDAR
www.sedar.com.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
SOURCE Golden Reign Resources Ltd.