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
|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
|Miguel de la Campa||Approved||24,236,886 For
|De Lyle Bloomquist||Approved||23,049,503 For
|Hernan Martinez||Approved||23,087,723 For
|Robert Metcalfe||Approved||19,365,645 For
|Jaime Perez Branger||Approved||23,087,673 For
|3.||Appointment of KPMG LLP as auditors of the Corporation at a remuneration to be fixed by the directors||Approved||25,843,518 For
|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
|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
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).
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We acknowledge the [financial] support of the Government of Canada.