Brio Gold Obtains Final Order for Arrangement With Leagold Mining Corporation

BRIO GOLD is pleased to announce that it has obtained a final order from the Ontario Superior Court of Justice (Commercial List) approving its previously announced plan of arrangement (the “Arrangement”) with Leagold Mining Corporation (“Leagold”), whereby Leagold will acquire all of the issued and outstanding shares of Brio Gold pursuant to an arrangement agreement dated February 15, 2018.

Receipt of the final order follows the Company’s special meeting of shareholders (the “Meeting”) held on April 12, 2018 where the special resolution approving the Arrangement was overwhelmingly approved by 99.99% of the votes cast at the Meeting.

On closing of the Arrangement, Brio Gold shareholders will receive, for each Brio Gold common share held, 0.922 of a Leagold common share and 0.4 of a Leagold share purchase warrant, with each full share purchase warrant being exercisable to acquire one common share of Leagold at a price of C$3.70 for a period of two years from the closing of the Arrangement. Subject to the receipt of all approvals, the Arrangement is expected to be completed in the second quarter of 2018.

Fonte: Brio Gold