Viva Gold Sends Notice of Special Meeting

Rhea-AI Summary

Viva Gold Corp. has called a special general meeting for shareholders on August 17, 2021, at 10 a.m. PT in Vancouver, BC, to address a requisition from a dissident shareholder group. This meeting aims to discuss the proposed control change without compensation to the majority shareholders, redirecting management's focus from ongoing financing and the Tonopah project. Following legal requirements, management will send a circular and proxy materials to shareholders. Viva holds 100% of the advanced Tonopah Gold Project, covering 8,800 acres with significant gold resources.

Positive

• Viva Gold holds full ownership of the Tonopah Gold Project, a significant asset in a prolific mining area.
• The company is preparing to communicate transparently with shareholders regarding the upcoming meeting.

Negative

• The dissident shareholder group is distracting management from essential financing activities and project advancement.
• The potential takeover attempt by dissidents may create uncertainty among shareholders.

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.

VANCOUVER, BC / ACCESSWIRE / June 8, 2021 / Viva Gold Corp. ("Viva" or the "Company") (TSXV:VAU) announces that it has called a special general meeting of its shareholders (the "Meeting") to consider the business stated in a May 18, 2021 dissident shareholder meeting requisition (the "Requisition") delivered to the Company pursuant to section 167 of the Business Corporations Act (British Columbia) (the "Act"). The Meeting is scheduled to be held at 10 a.m. (Pacific Time) on Tuesday, August 17, 2021, at 250 Howe Street, 20^th Floor, Vancouver, British Columbia V6C 3R8. To address the requirements of subsection 128(5) of the Act, notice of the date, time and location of the Meeting has today been sent to the Company's registered shareholders. A copy of that Meeting information is available under the Company's profile on SEDAR.

This unfortunate distraction of the Company's time, attention and resources away from its ongoing financing transaction and work to advance its Tonopah project, was necessitated by a dissident group of shareholders seeking to take control of Viva without giving it's majority of shareholders any payment or premium. In due course, and in accordance with the disclosure and timing requirements of the applicable securities laws, the Company intends to prepare and send a management information circular and related proxy materials to its registered and beneficial shareholders.

About Viva Gold Corp.

Viva Gold Corp. is a gold exploration and project development company with a focus on Nevada. Viva holds 100% of the advanced Tonopah Gold Project, a large land position of approximately 8,800 acres with demonstrated high-grade measured, indicated and inferred gold resources, located on the prolific Walker Lane gold trend in Nevada, about 30 kilometers south-east of the Round Mountain mine of Kinross Gold and 20 kilometers north from the Town of Tonopah. 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, Contact:
James Hesketh, President & CEO
(720) 291-1775
jhesketh@vivagoldcorp.com

Valerie Kimball, Director Investor Relations
(720) 933-1150
vkimball@vivagoldcorp.com

Cautionary Note Regarding Forward-looking Information

This news release contains certain information that may constitute forward-looking information or forward-looking statements under applicable Canadian securities legislation (collectively, "forward-looking information"). This forward-looking information entails various risks and uncertainties that are based on current expectations, and actual results may differ materially from those contained in such information. These uncertainties and risks include, but are not limited to, future events, including dissident shareholder actions, that may require the Company to change the date, time or other arrangements for the Meeting, the strength of the global economy; the price of gold; operational, funding and liquidity risks; the potential for achieving targeted drill results, the degree to which mineral resource estimates are reflective of actual mineral resources; the degree to which factors which would make a mineral deposit commercially viable are present; the risks and hazards associated with drilling and mining operations; and the ability of Viva to fund its capital requirements. Risks and uncertainties about the Company's business are more fully discussed in the Company's disclosure materials filed with the security's regulatory authorities in Canada available at www.sedar.com. Readers are urged to read these materials. Viva assumes no obligation to update any forward-looking information or to update the reasons why actual results could differ from such information unless required by law.

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.

View source version on accesswire.com:
https://www.accesswire.com/650988/Viva-Gold-Sends-Notice-of-Special-Meeting

FAQ

What is the date of Viva Gold Corp.'s special meeting for shareholders?

Viva Gold Corp. has scheduled its special meeting for shareholders on August 17, 2021.

What is the purpose of the Viva Gold special meeting?

The special meeting is to discuss a requisition from a dissident shareholder group seeking control of the company.

Where will the Viva Gold special meeting be held?

The special meeting will be held at 250 Howe Street, 20th Floor, Vancouver, British Columbia.

What is the significance of the Tonopah Gold Project for Viva Gold Corp.?

The Tonopah Gold Project is a key asset for Viva, covering 8,800 acres with high-grade gold resources.

What is the stock symbol for Viva Gold in the US?

The stock symbol for Viva Gold in the US is VAUCF.