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Gran Colombia Announces Voting Results of the Annual General and Special Meeting of Shareholders Held Today; Shareholders Approve Gold X Acquisition

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Gran Colombia Announces Voting Results of the Annual General and Special Meeting of Shareholders Held Today; Shareholders Approve Gold X Acquisition

 

 

 

 

 

Gran Colombia Gold Corp.’s (TSX: GCM) (OTCQX: TPRFF) Annual General and Special Meeting of Shareholders was held today. The detailed results of the votes for each matter to be acted upon are set out below:

 

 

Item Description of Matter Outcome Voted Voted (%)
1. Fixing the number of directors at six Approved 24,072,290 For
260,970 Against
98.93%
1.07%
2. The election of the following individuals as directors of the Corporation to hold office until the next annual meeting of the Corporation or until their successors are appointed or elected:
Serafino Iacono Approved 21,680,334 For
2,652,926 Withheld
89.10%
10.90%
Miguel de la Campa Approved 24,236,886 For
96,374 Withheld
99.60%
0.40%
De Lyle Bloomquist Approved 23,049,503 For
1,238,757 Withheld
94.91%
5.09%
Hernan Martinez Approved 23,087,723 For
1,245,537 Withheld
94.88%
5.12%
Robert Metcalfe Approved 19,365,645 For
4,967,615 Withheld
79.58%
20.42%
Jaime Perez Branger Approved 23,087,673 For
1,245,587 Withheld
94.88%
5.12%
3. Appointment of KPMG LLP as auditors of the Corporation at a remuneration to be fixed by the directors Approved 25,843,518 For
49,364 Withheld
99.81%
0.19%
4. Approval of a special resolution authorizing amendments to the Corporation’s Notice of Articles and Articles under the Business Corporations Act (British Columbia) to: (i) increase the quorum requirements for future meetings of shareholders of the Corporation to two persons representing 25% of the issued shares entitled to vote at the meeting; (ii) increase the quorum requirements for future meetings of the directors of the Corporation to 50% of the number of directors; (iii) establish a limit on the maximum number of preferred shares that the Corporation is authorized to issue; and (iv) require shareholder approval by way of special resolution for the creation of any new classes or series of shares, all as more particularly described in the management information circular dated April 16, 2021 Approved 24,180,795 For
152,465 Against
99.37%
0.63%
5. Approval of an ordinary resolution authorizing the issuance of up to 43,641,774 common shares of the Corporation in connection with the proposed acquisition by the Corporation of all of the outstanding common shares of Gold X Mining Corp. not already owned by the Corporation by way of Plan of Arrangement under the Business Corporations Act (British Columbia), including common shares of the Corporation issuable upon the exercise of warrants of Gold X following the effective date of the Arrangement, in accordance with the terms and subject to the conditions of the arrangement agreement dated March 14, 2021 between the Corporation and Gold X, all as more particularly described in the Circular Approved 24,097,231 For
236,029 Against
99.03%
0.97%

 

Update on Gold X Acquisition

 

Gran Colombia is also pleased to announce that, earlier today, the shareholders of both the Company and Gold X approved the proposed Arrangement under which the Company will acquire all of the issued and outstanding common shares of Gold X not already owned by the Company in exchange for Gran Colombia common shares on the basis of 0.6948 of a Gran Colombia share for each Gold X share.

 

Gold X expects to apply for a final order of the Supreme Court of British Columbia approving the Arrangement on or about June 1, 2021. Subject to receipt of the Final Order, as well as the satisfaction or waiver of other customary closing conditions, Gold X and the Company expect that the Arrangement will become effective at 12:01 a.m. on June 4, 2021.

 

About Gran Colombia Gold Corp.

 

Gran Colombia is a Canadian-based mid-tier gold producer with its primary focus in Colombia where it is currently the largest underground gold and silver producer with several mines in operation at its high-grade Segovia Operations. Gran Colombia’s portfolio includes equity positions in several listed companies advancing gold and silver projects including a 44.3% equity interest in Aris Gold Corporation (TSX: ARIS) (Colombia – Marmato; Canada – Juby), a 17.8% equity interest in Gold X Mining Corp. (TSX-V: GLDX) (Guyana – Toroparu), a 27.3% equity interest in Denarius Silver Corp. (TSX-V: DSLV) (Spain – Lomero; Colombia – Guia Antigua and Zancudo) and a 25.8% equity interest in Western Atlas Resources Inc. (TSX-V: WA) (Nunavut – Meadowbank).

 

Posted May 28, 2021

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