Viva Gold Corp. Terminates Arrangement Agreement with Golden Predator Mining Corp.
Viva Gold Corp. (VAUCF) has mutually terminated its Arrangement Agreement with Golden Predator Mining Corp. as the required supermajority of shareholder votes wasn't met, despite a majority in favor. No fees are to be paid by either party. The company will focus on advancing its 100% owned Tonopah Gold Project, located in Nevada, which has approximately 8,800 acres and demonstrates high-grade gold resources. The shareholder meeting scheduled for today has been canceled.
- Viva Gold is advancing its exploration and development of the Tonopah Gold Project, a major asset with high-grade gold resources.
- The company holds a large land position of approximately 8,800 acres in a prolific gold trend in Nevada.
- The termination of the Arrangement Agreement suggests challenges in securing necessary shareholder support.
- The failure to meet the supermajority requirement may raise concerns about shareholder confidence.
VANCOUVER, BC / ACCESSWIRE / May 3, 2021 / Viva Gold Corp. (TSXV:VAU)(OTCQB:VAUCF) (the "Company" or "Viva") announces that it has agreed to terminate its March 2, 2021 Arrangement Agreement with Golden Predator Mining Corp. by mutual consent. No break fees or termination fees are payable by either party. The tabulation of proxies and voting instructions submitted confirmed that a majority of shareholders who voted, voted for the arrangement, but this total did not meet the supermajority hurdle required. Consequently, the Company will not be proceeding with the shareholder meeting scheduled for 2 p.m. this afternoon.
Viva will continue to advance the exploration and development of its
About Viva Gold Corp:
Viva Gold is a gold exploration and project development company with a focus on Nevada. Viva's management team has extensive experience in mining exploration, development and production and are supported by a Board of Directors and advisors who are proven mine finders, deal makers and financiers. Viva trades on the TSX-V as "VAU", on the OTCQB in the US as "VAUCF" and on the Frankfurt exchange under "7PB". For additional information on Viva Gold and the Tonopah Gold Project, please visit our website: www.vivagoldcorp.com.
For further information please contact:
James Hesketh, President & CEO
(720) 291-1775
jhesketh@vivagoldcorp.com
Valerie Kimball, Director Investor Relations
(720) 933-1150
vkimball@vivagoldcorp.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
SOURCE: Viva Gold Corp.
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https://www.accesswire.com/643769/Viva-Gold-Corp-Terminates-Arrangement-Agreement-with-Golden-Predator-Mining-Corp
FAQ
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