Gowest Gold Ltd. Completes Go Private Transaction
Gowest Gold (TSXV: GWA) has completed its previously announced plan of arrangement, resulting in a group of existing shareholders (the Acquiring Group) acquiring all outstanding common shares not already owned by them for $0.15 per share in cash. The transaction also involved the acquisition of outstanding warrants and stock options by the company. As a result, the Acquiring Group is now the sole shareholder of Gowest.
The company's shares are expected to be delisted from the TSX Venture Exchange around September 24, 2024. Gowest intends to apply to cease being a reporting issuer and terminate its public reporting obligations. Former registered shareholders must complete and return a letter of transmittal to receive the share consideration, while those holding shares through intermediaries should contact their nominees for assistance.
Gowest Gold (TSXV: GWA) ha completato il piano di riordino precedentemente annunciato, che ha portato a un gruppo di azionisti esistenti (il Gruppo Acquirente) ad acquisire tutte le azioni ordinarie non già in loro possesso per 0,15 $ per azione in contante. La transazione ha comportato anche l'acquisizione di warrant e opzioni su azioni in circolazione da parte della società. Di conseguenza, il Gruppo Acquirente è ora l'unico azionista di Gowest.
Si prevede che le azioni della società verranno rimosse dal TSX Venture Exchange intorno al 24 settembre 2024. Gowest intende richiedere la cessazione dello status di emittente quotato e terminare i suoi obblighi di reporting pubblico. Gli azionisti registrati precedenti devono completare e restituire una lettera di trasmissione per ricevere la considerazione azionaria, mentre coloro che detengono azioni tramite intermediari dovrebbero contattare i propri nominati per assistenza.
Gowest Gold (TSXV: GWA) ha completado su plan de arreglo previamente anunciado, lo que ha llevado a un grupo de accionistas existentes (el Grupo Adquirente) a adquirir todas las acciones comunes no ya poseídas por ellos por 0,15 $ por acción en efectivo. La transacción también implicó la adquisición de warrants y opciones sobre acciones existentes por parte de la compañía. Como resultado, el Grupo Adquirente es ahora el único accionista de Gowest.
Se espera que las acciones de la compañía sean excluidas de la TSX Venture Exchange alrededor del 24 de septiembre de 2024. Gowest tiene la intención de solicitar dejar de ser un emisor informante y terminar sus obligaciones de reporte público. Los accionistas registrados anteriores deben completar y devolver una carta de transmisión para recibir la consideración de las acciones, mientras que aquellos que poseen acciones a través de intermediarios deben contactar a sus nominados para obtener asistencia.
Gowest Gold (TSXV: GWA)는 사전에 발표된 계획을 완료했습니다. 이로 인해 기존 주주 그룹(인수 그룹)이 이미 소유하고 있지 않은 모든 보통주를 주당 0.15 달러 현금으로 인수하게 되었습니다. 이 거래에는 회사가 보유하고 있는 미화환과 주식 옵션의 인수도 포함되었습니다. 결과적으로 인수 그룹이 이제 Gowest의 단독 주주가 되었습니다.
회사의 주식은 2024년 9월 24일 경 TSX 벤처 거래소에서 상장 폐지될 예정입니다. Gowest는 보고하는 발행인의 지위를 중지하고 공개 보고 의무를 종료할 의도를 가지고 있습니다. 이전에 등록된 주주는 주식 대가를 받기 위해 송부 서한을 작성하여 반환해야 하며, 중개인을 통해 주식을 보유한 사람은 지명인에게 도움을 요청해야 합니다.
Gowest Gold (TSXV: GWA) a achevé son plan de réorganisation précédemment annoncé, entraînant un groupe d'actionnaires existants (le Groupe Acquéreur) acquérant toutes les actions ordinaires non déjà détenues par eux pour 0,15 $ par action en espèces. La transaction a également impliqué l'acquisition de bons de souscription et d'options d'achat d'actions en circulation par la société. En conséquence, le Groupe Acquéreur est maintenant l'unique actionnaire de Gowest.
Les actions de la société devraient être radiées de la TSX Venture Exchange autour du 24 septembre 2024. Gowest a l'intention de demander à cesser d'être un émetteur déclarant et de mettre fin à ses obligations de déclaration publique. Les anciens actionnaires enregistrés doivent compléter et retourner une lettre de transmission pour recevoir la contrepartie des actions, tandis que ceux qui détiennent des actions par l'intermédiaire de courtiers devraient contacter leurs désignés pour obtenir de l'aide.
Gowest Gold (TSXV: GWA) hat seinen zuvor angekündigten Plan zur Regelung abgeschlossen, wodurch eine Gruppe bestehender Aktionäre (die Erwerbergruppe) alle ausstehenden Stammaktien, die nicht bereits von ihnen gehalten werden, für 0,15 $ pro Aktie in bar erwirbt. Die Transaktion beinhaltete auch den Erwerb von ausstehenden Warrants und Aktienoptionen durch das Unternehmen. Infolgedessen ist die Erwerbergruppe nun der alleinige Aktionär von Gowest.
Die Aktien des Unternehmens werden voraussichtlich rund am 24. September 2024 von der TSX Venture Exchange delistet. Gowest beabsichtigt, die Einstellung als berichtendes Unternehmen zu beantragen und seine öffentlichen Berichtspflichten zu beenden. Ehemalige registrierte Aktionäre müssen ein Übertragungsformular ausfüllen und zurücksenden, um die Aktienvergütung zu erhalten, während diejenigen, die Aktien über Vermittler halten, ihre Nominierten um Unterstützung bitten sollten.
- Completion of the go-private transaction, potentially streamlining decision-making processes
- Cash consideration of $0.15 per share for shareholders
- Acquisition of outstanding warrants and stock options, simplifying the company's capital structure
- Delisting from the TSX Venture Exchange, reducing liquidity for shareholders
- Termination of public reporting obligations, potentially reducing transparency for investors
- Minority shareholders forced to sell their shares, losing potential future upside
Toronto, Ontario--(Newsfile Corp. - September 20, 2024) - Gowest Gold Ltd. (TSXV: GWA) ("Gowest" or the "Company") is pleased to announce that the Company has completed its previously announced plan of arrangement of the Company under Section 182 of the Business Corporations Act (Ontario) (the "Arrangement"), pursuant to which a group of existing shareholders of Gowest (the "Acquiring Group") acquired all of the outstanding common shares of Gowest ("Shares") not already owned by the Acquiring Group, for cash consideration of
Further, pursuant to the Arrangement, (i) all outstanding common share purchase warrants of Gowest were acquired by the Company for an amount in cash per warrant equal to the amount, if any, by which the Share Consideration exceeded the exercise price of such warrant, and (ii) all outstanding stock options of Gowest were acquired by the Company for an amount in cash per stock option equal to the amount, if any, by which the Share Consideration exceeded the exercise price of such stock option.
The Shares are expected to be delisted from the TSX Venture Exchange ("TSXV") on or about September 24, 2024. The Company intends to submit an application to the applicable securities regulators to have Gowest cease to be a reporting issuer and terminate its public reporting obligations.
Information for Former Shareholders
In order to receive the Share Consideration in exchange for Shares, registered shareholders of Gowest must complete, sign, date and return the letter of transmittal that was delivered to each registered shareholder prior to the effective time of the Arrangement. The letter of transmittal is also available under the Company's profile on SEDAR+ at www.sedarplus.ca.
For those former shareholders of Gowest whose Shares are registered in the name of a broker, investment dealer, bank, trust company, trust or other intermediary or nominee, they should contact such nominee for assistance in depositing their Shares and should follow the instructions of such intermediary or nominee.
For further information regarding the Arrangement, please refer to the management information circular of the Company dated as of July 24, 2024, a copy of which is available under the Company's profile on SEDAR+ at www.sedarplus.ca.
About Gowest
Gowest is a Canadian gold exploration and development company focused on the delineation and development of its
Forward-Looking Information
Certain statements in this release constitute forward-looking statements within the meaning of applicable securities laws. Forward-looking statements in this press release include, without limitation, statements relating to: the delisting of the Shares and the timing thereof; and the Company ceasing to be a reporting issuer and the timing thereof. Words such as "may", "would", "could", "should", "will", "anticipate", "believe", "plan", "expect", "intend", "potential" and similar expressions may be used to identify these forward-looking statements although not all forward-looking statements contain such words.
Forward-looking statements involve significant risks, uncertainties and assumptions. Many factors could cause actual results, performance or achievements to be materially different from any future results, performance or achievements that may be expressed or implied by such forward-looking statements. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results, performance or achievements may vary materially from those expressed or implied by this press release. These factors should be considered carefully and reader should not place undue reliance on the forward-looking statements. These forward-looking statements are made as of the date of this press release and, other than as required by law, Gowest does not intend to or assume any obligation to update or revise these forward-looking statements, whether as a result of new information, future events or otherwise.
NEITHER THE TSXV NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSXV) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
For further information, please contact:
Dan Gagnon
President & CEO
Tel: (416) 363-1210
Email: info@gowestgold.com
Greg Taylor
Investor Relations
Tel: (416) 605-5120
Email: greg.taylor@gowestgold.com
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/224079
FAQ
What is the cash consideration per share in Gowest Gold's (GWSAF) go-private transaction?
When will Gowest Gold (GWSAF) be delisted from the TSX Venture Exchange?
How can former registered shareholders of Gowest Gold (GWSAF) receive their share consideration?
What happens to Gowest Gold's (GWSAF) outstanding warrants and stock options in the go-private transaction?
