VANCOUVER, British Columbia, March 20, 2023 (GLOBE NEWSWIRE) -- Sabina Gold & Silver Corp. ("Sabina") or (the "Company") (SBB – TSX/ SGSVF - OTCQX) is pleased to announce that the management information circular and related materials associated with the upcoming special meeting (the "Special Meeting") of shareholders of the Company (the "Shareholders") to be held on April 12, 2023 are being mailed today to Shareholders and have been filed under the Company's profile on SEDAR. The Special Meeting is being held in connection with the proposed acquisition of all of the issued and outstanding shares of the Company (the "Sabina Shares") by B2Gold Corp. ("B2Gold") previously announced on February 13, 2023 (the "Transaction").
On March 8, 2023, Sabina obtained an interim order (the "Interim Order") from the Supreme Court of British Columbia (the "Court") authorizing the holding of the Special Meeting and matters relating to the conduct of the Special Meeting. At the Special Meeting, Shareholders will be asked to consider and, if deemed acceptable, pass a special resolution (the "Arrangement Resolution") to approve an arrangement with B2Gold and 1400437 B.C. Ltd., a wholly-owned subsidiary of B2Gold ("Subco"), pursuant to a statutory plan of arrangement under Section 288 of the Business Corporations Act (British Columbia) (the "Plan of Arrangement"), whereby B2Gold will acquire all of the issued and outstanding shares of the Company, with Shareholders receiving 0.3867 of a common share of B2Gold for each Sabina Share held (the "Consideration"). The Transaction will be carried out pursuant to the terms of an arrangement agreement dated February 12, 2023 between the Company, B2Gold and Subco (the "Arrangement Agreement") and the terms of the Plan of Arrangement.
Pursuant to the terms of the Interim Order, Shareholders of record at the close of business on March 13, 2023 (the "Record Date") will be entitled to vote at the Special Meeting, with each such Shareholder entitled to one vote per each Sabina Share held. Shareholders are encouraged to vote well in advance of the proxy voting deadline of April 10, 2023 at 9:00 a.m. (Pacific Time).
The Board of Directors of the Company (the "Board") unanimously recommends Shareholders vote FOR the Arrangement Resolution, in accordance with the instructions set out in the meeting materials. Each director and officer of the Company intends to vote all of such director's and officer's Sabina Shares FOR the Arrangement Resolution.
In making their recommendation, the Board considered a number of factors in deciding the Transaction was in the best interests of the Company, including, among others:
- Premium. The Consideration represents a premium of 45% to the 20-day VWAP of each of B2Gold and Sabina on the Toronto Stock Exchange (the "TSX") as of February 10, 2023, the last trading date before the announcement of the Transaction, and an implied premium of 45% to the closing price of Sabina on the TSX as of February 2, 2023, the date the non-binding letter of intent was signed.
- Strengths and Strategic Fit. Shareholders are being offered the opportunity to benefit from:
- ownership in a major gold producer with proven northern construction and operating capability which significantly reduces execution risk of the Goose Project at the Back River Gold District;
- ongoing exposure to future value creating milestones at the Back River Gold District and to the Fekola Mine, a cornerstone Tier 1 asset with significant free cash flow generation;
- access to a strong, debt free balance sheet (other than ordinary course equipment loans) and robust cash flow generation to fund and optimize the development of the Back River Gold District; and
- enhanced institutional investor following, improved trading liquidity and participation in a peer leading dividend yield.
- Business and Industry Risks. The business, operations, assets, financial condition, operating results and prospects of Sabina are subject to significant uncertainty, which may include risks associated with obtaining further required financing and human capital to fully construct and bring into commercial production a mine at the Back River Gold District.
- Fairness Opinions. The fairness opinions of BMO Capital Markets and Cormark Securities Inc. state that as of the date of the Arrangement Agreement, and subject to and based on the considerations, assumptions and limitations described therein, the Consideration is fair, from a financial point of vote, to the Shareholders.
Subject to obtaining approval from the Shareholders to the Arrangement Resolution at the Special Meeting, Court approval and certain regulatory approvals, as well as the satisfaction or waiver of other conditions contained in the Arrangement Agreement, all as more particularly described in the management information circular of the Company, it is currently anticipated that the Transaction will be completed in late April 2023.
The meeting materials contain important additional information regarding the Transaction, including the rights and entitlements of Shareholders thereunder and how Shareholders can attend and vote at the Special Meeting, and accordingly, should be carefully reviewed. The meeting materials will be mailed to all Shareholders of record as at the Record Date and are also available on the Company's website at and under the Company's profile on SEDAR at .
Shareholder Questions
Shareholders who have questions or need assistance with voting their Sabina Shares should contact Laurel Hill Advisory Group by telephone at 1-877-452-7184 (toll-free in North America) or 416-304-0211 (collect outside North America) or by email at assistance@laurelhill.com.
SABINA GOLD & SILVER CORP.
Sabina Gold & Silver Corp. is an emerging gold mining company that owns 100% of the district scale, advanced, high grade Back River Gold District in Nunavut, Canada.
Sabina filed an Updated Feasibility Study on its first mine on the district, Goose, which presents a project that will produce ~223,000 ounces of gold a year (first five years average of 287,000 ounces a year with peak production of 312,000 ounces in year three) for ~15 years with a rapid payback of 2.3 years, with a post-tax IRR of ~28% and NPV5% of C$1.1 billion at a gold price of US$1,600 per ounce. See "National Instrument (NI) 43-101 Technical Report – 2021 Updated Feasibility Study for the Goose Project at the Back River Gold District, Nunavut, Canada" dated March 3, 2021 filed under the Company's profile on SEDAR at .
The Goose project has received all major permits and authorizations for construction and operations.
Sabina is also very committed to its Inuit stakeholders, with Inuit employment and opportunities a focus. The Company has signed a 20-year renewable land use agreement with the Kitikmeot Inuit Association and has committed to various sustainability initiatives under the agreement.
For further information please contact:
Nicole Hoeller, Vice-President, Communications: | 1 888 648-4218 |
| nhoeller@sabinagoldsilver.com |
Forward Looking Information
This news release contains "forward-looking information" within the meaning of applicable Canadian securities legislation (the "forward-looking statements"), including, but not limited to, statements related to the consummation and timing of the Transaction; the synergies, strengths, characteristics and potential of the post-Transaction B2Gold, assuming consummation of the Transaction upon the terms of the Arrangement Agreement, including the Plan of Arrangement; and the timing, receipt and anticipated effects of applicable Shareholder, Court and regulatory approvals. These forward-looking statements are made as of the date of this news release. Readers are cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the future circumstances, outcomes or results anticipated in or implied by such forward-looking statements will occur or that plans, intentions or expectations upon which the forward-looking statements are based will occur.
While we have based these forward-looking statements on our expectations about future events as at the date that such statements were prepared, the statements are not a guarantee that such future events will occur and are subject to risks, uncertainties, assumptions and other factors which could cause events or outcomes to differ materially from those expressed or implied by such forward-looking statements. Such factors and assumptions include, among others, B2Gold's and Sabina's ability to achieve timely satisfaction of conditions precedent to the Transaction, including with respect to key regulatory, Court and Shareholder approvals; B2Gold's and Sabina's ability to carry on current and future operations, including: the duration and effects of COVID-19 on our operations and workforce; development and exploration activities; the timing, extent, duration and economic viability of such operations, including any mineral resources or reserves identified thereby; the accuracy and reliability of estimates, projections, forecasts, studies and assessments; B2Gold's ability to meet or achieve estimates, projections and forecasts; the availability and cost of inputs; the price and market for outputs, including gold; foreign exchange rates; taxation levels; the timely receipt of necessary approvals or permits; the ability to meet current and future obligations; the ability to obtain timely financing on reasonable terms when required; the current and future social, economic and political conditions; and other assumptions and factors generally associated with the mining industry.
In addition, there are known and unknown risk factors which could cause our actual results, performance or achievements to differ materially from any future results, performance or achievements expressed or implied by the forward-looking statements. Known risk factors include the inherent risks, costs and uncertainties associated with integrating the businesses successfully and risks of not achieving all or any of the anticipated benefits of the proposed Transaction, or the risk that the anticipated benefits of the proposed Transaction may not be fully realized or take longer to realize than expected; the occurrence of any event, change or other circumstances that could give rise to the termination of the Arrangement Agreement; the risk that the proposed Transaction will not be consummated within the expected time period, or at all; as well as other risk factors and uncertainties identified and described in more detail under the heading "Risk Factors" in B2Gold's most recent Annual Information Form, B2Gold's current Form 40-F Annual Report and B2Gold's other filings with Canadian securities regulators and the U.S. Securities and Exchange Commission (the "SEC"), which may be viewed at and www.sec.gov, respectively, as well as under the heading "Risk Factors" in Sabina's most recent Annual Information Form which may be viewed at . Although we have 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 as 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. Accordingly, readers should not place undue reliance on forward-looking statements. We are under no obligation to update or alter any forward-looking statements except as required under applicable securities laws.
Bruce McLeod, President & CEO
1800-555 Burrard Street, Two Bentall Centre
Vancouver, BC V7X 1M9
Tel 604 998-4175 Fax 604 998-1051
溫哥華,不列顛哥倫比亞省,2023年3月20日(Global Newswire)--Sabina Gold&Silver Corp.(“Sabina”)或(“the Company”)(SBB-TSX/SGSVF-OTCQX)高興地宣佈,與即將於2023年4月12日舉行的公司股東特別大會(“股東特別大會”)相關的管理資訊通告和相關材料已於今天郵寄給股東,並已在公司SEDAR上提交。特別會議是就B2Gold Corp.(“B2Gold”)先前於2023年2月13日公佈的收購本公司所有已發行及已發行股份(“Sabina股份”)的建議而舉行(“交易”)。
2023年3月8日,薩比娜獲得了不列顛哥倫比亞省最高法院的臨時命令(《臨時命令》),授權舉行特別會議以及與舉行特別會議有關的事項。於特別大會上,股東將被要求考慮及(如認為可接受)通過一項特別決議案(“安排決議案”),以批准與B2Gold及B2Gold(“Subco”)全資附屬公司1400437 B.C.Ltd.根據第288條下的法定安排圖則作出的安排。《商業公司法》(不列顛哥倫比亞省)(“安排計劃”),根據該計劃,B2Gold將收購本公司所有已發行及已發行股份,股東每持有一股Sabina股份可獲0.3867股B2Gold普通股(“代價”)。交易將根據本公司、B2Gold及Subco於2023年2月12日訂立的安排協定(“安排協定”)的條款及安排計劃的條款進行。
根據臨時命令的條款,於2023年3月13日(“記錄日期”)營業時間結束時登記在冊的股東將有權在特別大會上投票,每持有一股Sabina股份,每名該等股東有權投一票。鼓勵股東在代理投票截止日期2023年4月10日上午9點之前投票。(太平洋時間)。
公司董事會(“董事會”)一致建議股東投票為根據會議材料中列出的指示,安排決議。每位董事和公司高管打算投票表決所有此類董事和高管的Sabina股票為《安排決議》。
在作出建議時,董事會考慮了若干因素,以決定交易是否符合本公司的最佳利益,其中包括:
- 高級的。對價較B2Gold及Sabina於2023年2月10日,即交易宣佈前最後一個交易日在多倫多證券交易所(“多倫多證券交易所”)的20天VWAP溢價45%,較Sabina於2023年2月2日,即非約束性意向書簽署之日在多倫多證券交易所的收盤價溢價45%。
- 優勢與戰略契合。股東有機會從以下方面受益:
- 擁有一家主要的黃金生產商,其北部建設和運營能力已得到證實,這大大降低了後河黃金區Goose專案的執行風險;
- 持續暴露於後河黃金區和Fekola礦的未來價值創造里程碑,Fekola礦是一項具有重大自由現金流產生的基石一級資產;
- 獲得強大的、無債務的資產負債表(普通航道設備貸款除外)和強勁的現金流,為後河黃金區的發展提供資金和優化;以及
- 增強機構投資者追隨者,改善交易流動性和參與同行領先的股息收益率。
- 商業和行業風險。Sabina的業務、營運、資產、財務狀況、經營結果及前景受重大不確定性影響,可能包括與取得更多所需融資及人力資本以全面建造Back River Gold Store礦山並投入商業生產有關的風險。
- 公平意見。蒙特利爾銀行資本市場和Cormark Securities Inc.的公平意見指出,截至安排協定日期,在遵守和基於其中所述的考慮、假設和限制的情況下,從財務投票的角度來看,對價對股東是公平的。
待於特別會議上取得股東對安排決議案的批准、法院批准及若干監管批准,以及安排協定所載其他條件的滿足或豁免(所有詳情均載於本公司的管理資料通函)後,目前預期交易將於二零二三年四月底完成。
會議材料包含有關交易的重要補充資料,包括股東在交易項下的權利和權利,以及股東如何出席特別會議並在特別會議上投票,因此應仔細審查。會議材料將郵寄給於記錄日期登記在冊的所有股東,也可在本公司網站和本公司在SEDAR的簡介下查閱。
股東問題
股東如對投票Sabina股票有疑問或需要協助,請致電1-877-452-7184(北美免費)或416-304-0211(北美以外地區代收),或發送電子郵件至assistate@larelhill.com,與Laurel Hill Consulting Group聯繫。
薩比納金銀公司。
Sabina Gold&Silver Corp.是一家新興的金礦公司,擁有加拿大努納武特地區規模先進、品位高的後河金礦區的100%權益。
Sabina就其在該地區的第一座礦山Goose提交了最新的可行性研究,該專案提出了一個專案,該專案將在~15年內每年生產約223,000盎司黃金(前五年的平均年產量為287,000盎司,第三年的最高產量為312,000盎司),快速回收2.3年,稅後內部收益率約為28%,按每盎司1,600美元的金價計算,NPV5%為11億加元。見2021年3月3日提交的國家儀器(NI)43-101技術報告-加拿大努納武特後河金礦區Goose專案的2021年更新可行性研究報告,該報告在公司的SEDAR上提交。
Goose專案已經獲得了建設和運營的所有主要許可和授權。
Sabina也非常致力於其因紐特利益相關者,以因紐特人的就業和機會為重點。該公司已與基蒂克梅特因紐特協會簽署了一份為期20年的可再生土地使用協定,並承諾根據該協定實施各種可持續發展倡議。
欲瞭解更多資訊,請聯繫:
總裁副傳播部妮可·霍勒: | 1 888 648-4218 |
| 郵箱:nhoeller@sabinagoldsilver.com |
前瞻性資訊
本新聞稿包含適用於加拿大證券法的“前瞻性資訊”(“前瞻性陳述”),包括但不限於與交易的完成及時機;交易後B2Gold的協同效應、優勢、特點及潛力(假設交易按安排協定的條款(包括安排計劃)完成);以及適用股東、法院及監管機構批准的時間、收據及預期效果。這些前瞻性陳述是在本新聞稿發佈之日作出的。告誡讀者不要過度依賴前瞻性表述,因為不能保證前瞻性表述中預期或暗示的未來情況、結果或結果一定會發生,也不能保證前瞻性表述所依據的計劃、意圖或預期一定會發生。
雖然這些前瞻性陳述是基於我們在編制此類陳述之日對未來事件的預期,但這些陳述並不保證將來會發生此類事件,受風險、不確定性、假設和其他因素的影響,這些風險、不確定性、假設和其他因素可能導致事件或結果與此類前瞻性陳述明示或暗示的內容大不相同。這些因素和假設包括,B2Gold和Sabina及時滿足交易前條件的能力,包括獲得關鍵監管、法院和股東批准的能力;B2Gold和Sabina進行當前和未來業務的能力,包括:新冠肺炎對我們的業務和勞動力的持續時間和影響;開發和勘探活動;此類業務的時間、範圍、持續時間和經濟可行性,包括由此確定的任何礦產資源或儲量;估計、預測、預測、研究和評估的準確性和可靠性;B2Gold達到或實現估計、預測和預測的能力;投入的可用性和成本;包括黃金在內的產出的價格和市場;匯率;稅收水準;及時收到必要的批准或許可;履行當前和未來義務的能力;在需要時以合理條件及時獲得融資的能力;當前和未來的社會、經濟和政治條件;以及一般與採礦業有關的其他假設和因素。
此外,存在已知和未知的風險因素,可能會導致我們的實際結果、業績或成就與前瞻性陳述中明示或暗示的任何未來結果、業績或成就大不相同。已知的風險因素包括與成功整合業務相關的固有風險、成本和不確定性,以及未能實現擬議交易的全部或任何預期效益的風險,或擬議交易的預期效益可能未完全實現或實現時間長於預期的風險;發生可能導致終止《安排協定》的任何事件、變化或其他情況;擬議交易不會在預期時間內完成或根本不完成的風險;以及在B2Gold最新的年度資訊表格、B2Gold當前的Form 40-F年度報告和B2Gold提交給加拿大證券監管機構和美國證券交易委員會(“美國證券交易委員會”)的其他檔案中的“風險因素”標題下更詳細地識別和描述的其他風險因素和不確定性,這些檔案可在和Www.sec.gov以及Sabina最新的年度資訊表格中“風險因素”的標題下,該表格可在。儘管我們試圖找出可能導致實際行動、事件或結果與前瞻性陳述中描述的大不相同的重要因素,但可能還有其他因素導致行動、事件或結果與預期、估計或預期的不同。不能保證前瞻性陳述將被證明是準確的,因為實際結果和未來事件可能與此類陳述中預期的大不相同。因此,讀者不應過分依賴前瞻性陳述。除非適用的證券法要求,否則我們沒有義務更新或更改任何前瞻性陳述。
布魯斯·麥克勞德,總裁首席執行官
巴拉德街1800-555號,本索爾中心二號
溫哥華,BC V7X 1M9
電話604 998-4175傳真604 998-1051