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Great Bear Resources Ltd. has been successfully acquired by Kinross Gold Corporation through a plan of arrangement. Shareholders of Great Bear had the option to receive C$29.00 in cash or 3.8564 Kinross shares per Great Bear share, subject to pro-ration. As a result, shareholders will receive approximately C$25.80 in cash and 0.4257 Kinross shares due to pro-ration. The acquisition includes contingent value rights that may convert into Kinross shares, contingent upon Kinross achieving certain production milestones. Great Bear shares will be delisted from the TSX Venture Exchange on February 25, 2022.
Great Bear Resources Ltd. (GTBAF) has received a final order from the Supreme Court of British Columbia for its acquisition by Kinross Gold Corporation through a plan of arrangement. Shareholders could elect to receive either C$29.00 per share in cash or 3.8564 Kinross shares. Due to pro-ration, those choosing cash will receive approximately C$26.16 in cash and 0.3783 Kinross shares per Great Bear share. The transaction is anticipated to close around February 24, 2022, after which Great Bear shares are set to be delisted.
Great Bear Resources Ltd. has announced the approval of its acquisition by Kinross Gold Corporation with 97.80% votes cast in favor at a special meeting. Shareholders had the option to receive C$29.00 per share in cash or 3.8564 Kinross shares. The total transaction is valued at approximately $1.4 billion, and shareholders are also entitled to contingent value rights (CVRs) linked to gold production at the Dixie Project. The transaction is subject to court approval, with closing expected by the end of February 2022.
Great Bear Resources Ltd. (GTBAF) has filed a management information circular for a special meeting on February 14, 2022, regarding its proposed acquisition by Kinross Gold Corporation. Shareholders will vote on a special resolution for this transaction, approved unanimously by the Board and Special Committee. The arrangement offers shareholders a consideration of approximately C$1.8 billion, or C$29.00 per share, with options for cash or Kinross shares. The deal reflects a premium of 31% over the closing price on December 7, 2021. The meeting will be conducted virtually due to COVID-19.
Great Bear Resources Ltd. (GTBAF) has entered into a binding agreement with Kinross Gold Corporation, under which Kinross will acquire all outstanding common shares of Great Bear for approximately C$1.8 billion, equating to C$29.00 per share. This transaction represents a 40% premium to Great Bear's 20-day VWAP. Shareholders can elect to receive cash or Kinross shares, and will also receive contingent value rights valued at approximately C$58.2 million. The deal is expected to complete in Q1 2022, pending shareholder and regulatory approvals.
Great Bear Resources (GTBAF) announced promising drill results from its flagship Dixie Project in Ontario. Recently resumed drilling has uncovered the new high-grade "Midwest" gold zone, with significant assays including 20.27 g/t gold over 1.75 metres. Ongoing exploration continues to expand the mineralization at the LP Fault zone, with drill holes yielding high-grade intervals like 66.30 g/t gold. The company plans to extend drilling into previously untested areas, indicating further potential for additional discoveries within the 1.4 km wide dilation zone.
Great Bear Resources Ltd. (OTCQX: GTBAF) announced high gold recovery test results from its Dixie Project in Ontario. The tests show recoveries between 95.2% and 99.2%, indicating strong processing potential across various gold zones, including the LP Fault, Dixie Limb, and Hinge zones. Notably, all tested samples were described as 'free-milling,' eliminating the need for complex processing methods. Chris Taylor, CEO, emphasized these results as significant for future development. Ongoing metallurgical testing aims to further confirm the favorable recovery rates.
Great Bear Resources Ltd. (TSXV: GBR, OTCQX: GTBAF) announced significant progress in its $45 million exploration program at the Dixie Project in Ontario. Recent drilling results from the LP Fault indicated continuity of high-grade gold mineralization across a 1.4 km strike length. Notable findings include drill hole BR-385, which intersected 157.00 g/t gold over 1.20 metres. The ongoing Phase 2 program aims to extend drilling from 450 to 900 metres depth, ensuring Great Bear is well-positioned for future resource estimates and economic assessments in 2022.
Great Bear Resources Ltd. (OTCQX: GTBAF) updates on geological modelling and assay results from the Auro2 high-grade gold domain within its Dixie Project, Ontario. The Auro2 domain is situated at the LP Fault zone, extending from bedrock surface to over 450 metres depth. The company's modeling indicates 23 high-grade domains, with Auro2 showing consistently high gold grades, including intervals up to 174.59 g/t in drill results. The company continues to release assay data from its extensive drilling program, highlighting potential for further resource expansion.
Great Bear Resources Ltd. (GTBAF) announced substantial progress in its $45 million exploration program at the Dixie Project in Ontario. Drill results have confirmed high-grade gold controls along the LP Fault, increasing the number of high-grade gold domains from 17 to 23. Significant gold mineralization has been confirmed over a 3 km stretch, with promising assays, including 150 g/t gold over 0.8 m in the Discovery area. The results support a maiden mineral resource estimate expected early next year, marking a critical milestone for the company.
