Taiga Gold Corp. Announces Closing of Transaction with SSR Mining Inc.

Rhea-AI Summary

Taiga Gold Corp has successfully concluded its transaction with SSR Mining Inc. as of April 14, 2022. Shareholders will receive $0.265 per common share held. Taiga's shares will be delisted from the Canadian Stock Exchange shortly, and the company will apply to cease being a reporting issuer. CEO Tim Termuende expressed gratitude to shareholders and legal advisors for their support during this process, emphasizing confidence in SSR Mining's stewardship.

Positive

• Shareholders will receive $0.265 per common share.
• Successful closure of the transaction boosts shareholder liquidity.

Negative

• Taiga's common shares will be delisted from the Canadian Stock Exchange.
• Application to cease being a reporting issuer may lead to reduced visibility in the market.

CRANBROOK, BC / ACCESSWIRE / April 14, 2022 / Taiga Gold Corp. ("Taiga" or the "Company") (CSE:TGC) has closed the previously announced transaction with SSR Mining Inc. ("SSR Mining") pursuant to a plan of arrangement (the "Arrangement").

Pursuant to the Arrangement, shareholders of Taiga are entitled to receive $0.265 for each common share held as of April 14, 2022, the effective time of the Arrangement. Any Taiga shareholder who does not hold their common shares in a brokerage account can submit a letter of transmittal along with their share certificate(s) to TSX Trust Company to receive the cash consideration under the Arrangement, which will be mailed to all registered shareholders. A copy of the letter of transmittal is available under Taiga's profile at www.sedar.com. Shareholders of Taiga who hold their shares through an intermediary (e.g. a broker, investment dealer, trust company or bank) are not required to submit a letter of transmittal, as their cash consideration will be deposited into their brokerage account.

Taiga's common shares will be delisted from the Canadian Stock Exchange within a few trading days and Taiga will make an application to cease to be a reporting issuer.

Tim Termuende, President and Chief Executive Officer of Taiga said the following "On behalf of my fellow board members and senior management of Taiga, I want to thank all of our shareholders and our employees for their patience and support throughout this process. I also want to thank our legal counsel, McLeod Law LLP for all of their guidance and hard work to help bring this transformational transaction to a successful close. Finally, I want to thank our friends at SSR Mining for being our joint venture partner on the Fisher property. We feel confident in delivering our assets and business into SSR Mining's stewardship."

On behalf of the Board of Directors

"Tim J. Termuende"
President and CEO

For further information on Taiga Gold Corp., please contact Mike Labach at:
1 866 HUNT ORE (486 8673)
Email: info@taigagold.com or visit our website at http://taigagold.com

Neither the Canadian Securities Exchange nor any other regulatory body has reviewed or approved the contents of this news release

Cautionary Note Regarding Forward-Looking Information

Certain information in this news release contains forward-looking information that involves risk and uncertainty. For this purpose, any statements that are contained in this news release that are not statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements often contain terms such as "may", "will", "should", "anticipate", "expects" and similar expressions. More particularly, and without limitation, this news release contains forward looking information relating to Taiga's intention to delist from the Canadian Stock Exchange and the timing thereof; Taiga's intention to make an application to cease be to be a reporting issuer and the timing thereof; and the payment of cash consideration to shareholders of Taiga. Readers are cautioned not to place undue reliance on forward-looking statements as there can be no assurance that the plans, intentions or expectations upon which they are based will occur. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Taiga assumes no obligation to update forward-looking statements should circumstances or management's estimates or opinions change. Forward-looking statements contained in this press release are expressly qualified by this cautionary statement.

SOURCE: Taiga Gold Corp

View source version on accesswire.com:
https://www.accesswire.com/697594/Taiga-Gold-Corp-Announces-Closing-of-Transaction-with-SSR-Mining-Inc

FAQ

What is the cash consideration for Taiga Gold Corp shareholders as of April 14, 2022?

Shareholders are entitled to receive $0.265 for each common share held.

When will Taiga Gold Corp's shares be delisted from the Canadian Stock Exchange?

Taiga's shares will be delisted within a few trading days following April 14, 2022.

What does the closure of the transaction with SSR Mining Inc. mean for Taiga Gold Corp shareholders?

It provides liquidity to shareholders through a cash payout.

How can Taiga Gold Corp shareholders submit their shares for cash payment?

Shareholders not using a brokerage account must submit a letter of transmittal with their share certificates.

What are the implications of Taiga Gold Corp ceasing to be a reporting issuer?

It may reduce the company's market visibility and oversight.