Gowest Gold Obtains Final Order Approving Go Private Transaction
Gowest Gold (TSXV: GWA) has obtained final court approval for its previously announced go-private transaction. The arrangement, approved by shareholders and warrantholders on September 5, 2024, involves a group of existing shareholders acquiring all outstanding common shares not already owned by them for $0.15 per share in cash.
The transaction is expected to close around September 19, 2024, subject to customary closing conditions. Upon completion, Gowest's shares are anticipated to be delisted from the TSX Venture Exchange. This move represents a significant change in the company's ownership structure and public status.
Gowest Gold (TSXV: GWA) ha ottenuto l'approvazione finale del tribunale per la sua operazione di privatizzazione precedentemente annunciata. L'accordo, approvato da azionisti e portatori di warrant il 5 settembre 2024, prevede che un gruppo di azionisti esistenti acquisti tutte le azioni ordinarie in circolazione non già possedute da loro per $0,15 per azione in contante.
Si prevede che la transazione si chiuda intorno al 19 settembre 2024, soggetta a condizioni di chiusura abituali. Al termine, si prevede che le azioni di Gowest vengano escluse dalla TSX Venture Exchange. Questo movimento rappresenta un cambiamento significativo nella struttura di proprietà e nel status pubblico dell'azienda.
Gowest Gold (TSXV: GWA) ha obtenido la aprobación final del tribunal para su transacción de privatización previamente anunciada. El acuerdo, aprobado por los accionistas y tenedores de warrants el 5 de septiembre de 2024, implica que un grupo de accionistas existentes adquiera todas las acciones ordinarias pendientes que no poseen por $0.15 por acción en efectivo.
Se espera que la transacción se cierre alrededor del 19 de septiembre de 2024, sujeta a las condiciones de cierre habituales. Al finalizar, se anticipa que las acciones de Gowest sean eliminadas de la TSX Venture Exchange. Este movimiento representa un cambio significativo en la estructura de propiedad y en el estado público de la empresa.
Gowest Gold (TSXV: GWA)는 이전에 발표된 비상장 기업 거래에 대한 최종 법원 승인을 얻었습니다. 이 합의는 2024년 9월 5일 주주 및 워런트 보유자들의 승인을 받아, 기존 주주 그룹이 이미 보유하지 않은 모든 발행 보통주를 주당 $0.15 현금으로 인수하는 내용을 포함합니다.
거래는 2024년 9월 19일경에 마감될 것으로 예상되며, 일반적인 마감 조건에 따릅니다. 완료되면 Gowest의 주가는 TSX 벤처 거래소에서 상장 폐지될 것으로 보입니다. 이 움직임은 회사의 소유 구조와 공적 지위에 중대한 변화를 나타냅니다.
Gowest Gold (TSXV: GWA) a obtenu l'approbation finale du tribunal pour sa transaction de privatisation précédemment annoncée. L'arrangement, approuvé par les actionnaires et les détenteurs de warrants le 5 septembre 2024, implique qu'un groupe d'actionnaires existants acquière toutes les actions ordinaires en circulation qui ne leur sont pas déjà propres pour 0,15 $ par action en espèces.
La transaction devrait se clôturer aux alentours du 19 septembre 2024, sous réserve des conditions de clôture habituelles. Une fois terminées, les actions de Gowest devraient être radiées de la TSX Venture Exchange. Ce mouvement représente un changement significatif dans la structure de propriété et le statut public de l'entreprise.
Gowest Gold (TSXV: GWA) hat die endgültige Genehmigung des Gerichts für die zuvor angekündigte Privatisierungstransaktion erhalten. Die Vereinbarung, die am 5. September 2024 von den Aktionären und den Warrantinhabern genehmigt wurde, sieht vor, dass eine Gruppe bestehender Aktionäre alle ausstehenden Stammaktien, die sie noch nicht besitzen, für 0,15 $ pro Aktie in bar erwerben.
Die Transaktion wird voraussichtlich um den 19. September 2024 abgeschlossen, vorbehaltlich der üblichen Abschlussbedingungen. Nach Abschluss wird erwartet, dass die Aktien von Gowest von der TSX Venture Exchange gestrichen werden. Diese Entscheidung stellt einen bedeutenden Wechsel in der Eigentümerstruktur und im öffentlichen Status des Unternehmens dar.
- Court approval obtained for the go-private transaction
- Cash consideration of $0.15 per share for outstanding shares
- Shareholder and warrantholder approval secured on September 5, 2024
- Delisting from TSX Venture Exchange upon completion of the arrangement
- Potential loss of public trading opportunities for existing shareholders
Toronto, Ontario--(Newsfile Corp. - September 16, 2024) - Gowest Gold Ltd. (TSXV: GWA) ("Gowest" or the "Company") is pleased to announce that the Company has obtained the final order of the Ontario Superior Court of Justice (Commercial List) approving the 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") propose to acquire all of the outstanding common shares of Gowest ("Shares") not already owned by the Acquiring Group, for cash consideration of
The Arrangement was approved by shareholders and warrantholders of the Company (the "Securityholders") at a special meeting of Securityholders held on September 5, 2024. Completion of the Arrangement remains subject to certain customary closing conditions. Assuming the satisfaction or waiver of these closing conditions, the Arrangement is expected to close on or about on or about September 19, 2024. It is anticipated that the Shares will be delisted from the TSX Venture Exchange ("TSXV") following the completion of the Arrangement.
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+ (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 proposed Arrangement; the ability of the parties to satisfy the conditions to closing of the Arrangement; and the anticipated completion of the Arrangement. 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, including risks associated with the Arrangement and acquisitions generally, such as the failure to satisfy the closing conditions contained in the arrangement agreement, and the absence of material adverse changes or other events which may give the parties a basis on which to terminate the arrangement agreement. 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/223391
FAQ
What is the cash consideration per share in Gowest Gold's go-private transaction?
When is Gowest Gold's go-private transaction expected to close?
Will Gowest Gold (GWSAF) be delisted from the TSX Venture Exchange?
When did Gowest Gold shareholders approve the go-private transaction?
