Golden Star Resources Ltd. - GSS STOCK NEWS

Golden Star Resources Ltd. (NYSE American: GSS) announced that it has received the second of three necessary regulatory approvals from China's Ministry of Commerce (MOFCOM) for its planned acquisition by Chifeng Jilong Gold Mining Co., Ltd. The approval follows a previous nod from the National Development and Reform Commission (NDRC). The transaction, valued at approximately US$470 million, involves cash consideration of US$3.91 per Golden Star Share. Completion is expected later in January 2022, pending final regulatory approvals, after which Golden Star will seek to delist from the NYSE American and cease reporting under multiple securities laws.

Golden Star Resources Ltd. (NYSE American: GSS) has received a regulatory approval from the National Development and Reform Commission (NDRC) in China for its acquisition by Chifeng Jilong Gold Mining Co., Ltd. This approval is the first of three required for the transaction valued at approximately US$470 million, with shareholders set to receive US$3.91 per share. The second approval process from the Ministry of Commerce is underway, and the transaction is expected to finalize later in January 2022, subject to further regulatory approvals.

Golden Star Resources Ltd. (NYSE American: GSS) has received final approval from the Ontario Superior Court for its plan of arrangement with Chifeng Jilong Gold Mining Co., Ltd. This deal, previously approved by shareholders, will see Chifeng acquire all outstanding shares of Golden Star for US$3.91 per share, totaling approximately US$470 million. The transaction is expected to finalize by January 2022, subject to regulatory approvals, leading to Golden Star's delisting from multiple exchanges and cessation of reporting obligations.

Golden Star Resources (GSS) announced overwhelming shareholder approval for its arrangement with Chifeng Jilong Gold Mining Co., Ltd. Approximately 99.47% of votes favored the resolution during a special meeting. The transaction, requiring regulatory and court approvals, will allow Chifeng to acquire all outstanding Golden Star shares at $3.91 each, totaling around $470 million. Following completion, expected in January 2022, Golden Star shares will be delisted from major exchanges and cease to be a reporting issuer under relevant securities laws.

On December 9, 2021, Golden Star Resources (NYSE American: GSS) filed its audited consolidated financial statements for the six months ended June 30, 2021, as required by the Shanghai Stock Exchange. The filing supports Golden Star's planned arrangement with Chifeng Jilong Gold Mining Co. for a total transaction value of approximately US$470 million. Shareholders will receive US$3.91 per common share. The financial statements indicate a tax expense increase of US$2.1 million, but no impact on cash flow is noted. Investors are advised to refer to the unaudited financial statements for regulatory compliance.

Golden Star Resources Ltd. (NYSE American: GSS) announced that Ontario's Superior Court of Justice granted an interim order for its proposed plan of arrangement with Chifeng Jilong Gold Mining Co., Ltd. A special meeting for shareholders will occur on December 30, 2021, to vote on the transaction. Shareholders will receive US$3.91 per share, totaling approximately US$470 million. The arrangement is subject to at least two-thirds approval from shareholders at the virtual meeting, and further details will be provided in a management information circular.

Golden Star Resources Ltd. (NYSE American: GSS) has received approval from the Ghanaian Ministry of Lands and Natural Resources for Chifeng Jilong Gold Mining Co., Ltd. to become the controller of Golden Star (Wassa) Limited. This follows an agreement dated October 31, 2021, where Chifeng will acquire all outstanding common shares of Golden Star for a total transaction value of approximately US$470 million. Shareholders will receive US$3.91 per share. Advisors for the transaction include Canaccord Genuity Corp. and legal firms Fasken Martineau DuMoulin LLP and Davis Graham & Stubbs LLP.

Golden Star Resources Ltd. (NYSE American: GSS) reported Q3 2021 results showing a gold production of 38.7 thousand ounces, down 7% year-over-year, primarily due to planned mine sequencing changes. The All-In Sustaining Cost increased by 27% to $1,299 per ounce. Despite a decrease in revenue to $64.3 million, the company improved its cash position to $50.5 million after repaying $51.5 million in convertible debentures. The stockholders are expected to vote on a cash acquisition offer of $3.91 per share from Chifeng Jilong Gold, representing a premium over recent trading prices.