TIDMAUY
RNS Number : 4965O
Yamana Gold Inc.
01 February 2023
yAMANA AND PAN AMERICAN SHAREHOLDERS APPROVE pROPOSED
TRANSACTION
TORONTO, January 31, 2023 -- Yamana Gold Inc. (TSX:YRI;
NYSE:AUY; LSE:AUY) ("Yamana" or the "Company") is pleased to
announce that at a special meeting of shareholders held earlier
today ("the Meeting"), Yamana shareholders voted overwhelmingly in
favour of the special resolution (the "Arrangement Resolution")
approving the previously announced acquisition by Pan American
Silver Corp. ("Pan American") of all of the issued and outstanding
common shares of the Company following the sale by Yamana of its
Canadian assets, including certain subsidiaries and partnerships
which hold Yamana's interests in the Canadian Malartic mine, to
Agnico Eagle Mines Limited ("Agnico Eagle"), all by way of a plan
of arrangement under the Canada Business Corporations Act (the
"Proposed Transaction").
The Arrangement Resolution was approved by approximately 98.87%
of the votes cast by Yamana shareholders at the Meeting, with
shareholder turnout of 61.59%. Detailed voting results for the
Arrangement Resolution are as follows:
Total Votes Percentage of Votes Cast
================== ============ =========================
Votes For 585,197,047 98.87%
Votes Against 6,713,855 1.13%
------------------ ------------ -------------------------
Total Votes Cast 591,910,902 100.00%
In addition to the approval by Yamana shareholders, Pan American
shareholders approved the issuance of Pan American common shares in
connection with the Proposed Transaction at a special meeting of
Pan American shareholders held earlier today. No approval is
required from Agnico Eagle shareholders for the Proposed
Transaction.
Peter Marrone, Executive Chairman, Yamana Gold commented, "I
would like to thank the Yamana shareholders for their support and
express my gratitude to each and every member of the Yamana team,
past and present, who have been a part of this incredible journey.
I am truly proud of everything we have achieved together, having
taken Yamana from a single asset to a senior gold producer in less
than two decades. Through this transaction with Pan American and
Agnico Eagle, I believe we have delivered a value enhancing
opportunity for our shareholders, in a market that is not currently
rewarding growth, whilst also establishing the critical mass and
scale that this sector desperately needs for future success.
Following the positive outcome of the shareholder votes today, we
look forward to working closely with the Pan American and Agnico
Eagle leadership as we progress this transaction through to
completion."
The Proposed Transaction is expected to be completed during the
first quarter of 2023, subject to approval by the Ontario Superior
Court of Justice, approval from the Mexican Federal Economic
Competition Commission (COFECE) and satisfaction or waiver of
certain other closing conditions.
For a more detailed description of the Proposed Transaction,
please review the Company's management information circular dated
December 20, 2022 (the "Circular") available under Yamana's issuer
profile on www.sedar.com or on the Company's website at
www.yamana.com .
About Yamana
Yamana Gold Inc. is a Canadian-based precious metals producer
with significant gold and silver production, development stage
properties, exploration properties, and land positions throughout
the Americas, including Canada, Brazil, Chile and Argentina. Yamana
plans to continue to build on this base through expansion and
optimization initiatives at existing operating mines, development
of new mines, the advancement of its exploration properties and, at
times, by targeting other consolidation opportunities with a
primary focus in the Americas.
FOR FURTHER INFORMATION PLEASE CONTACT:
Investor Relations
416-815-0220
1-888-809-0925
Email: investor@yamana.com
FTI Consulting (UK Public Relations)
Sara Powell / Ben Brewerton
+44 7974 201 715223 / +44 203 727 1000
This news release contains or incorporates by reference
"forward-looking statements" and "forward-looking information"
under applicable Canadian securities legislation and within the
meaning of the United States Private Securities Litigation Reform
Act of 1995. Forward-looking information includes, but is not
limited to information with respect to expected completion date of
the Proposed Transaction. Forward-looking statements are
characterized by words such as "plan", "expect", "budget",
"target", "project", "intend", "believe", "anticipate", "estimate"
and other similar words, or statements that certain events or
conditions "may" or "will" occur. Forward-looking statements are
based on the opinions, assumptions and estimates of management
considered reasonable at the date the statements are made, and are
inherently subject to a variety of risks and uncertainties and
other known and unknown factors that could cause actual events or
results to differ materially from those projected in the
forward-looking statements. These factors include transaction
risks, risks relating to the completion of the Proposed
Transaction, including receipt of all necessary regulatory, court
and securityholder approvals in connection with the Proposed
Transaction, as well as those risk factors discussed or referred to
herein, in the Circular and in the Company's Annual Information
Form filed with the securities regulatory authorities in all
provinces of Canada and available at www.sedar.com, and the
Company's Annual Report on Form 40-F filed with the United States
Securities and Exchange Commission. 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 not to be anticipated,
estimated or intended. 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. The Company undertakes no
obligation to update forward-looking statements if circumstances or
management's estimates, assumptions or opinions should change,
except as required by applicable law. The reader is cautioned not
to place undue reliance on forward-looking statements.
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