Mariana shareholders approve Sandstorm merger

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Algemeen advies 16/06/2017 15:04
Mariana Resources has announced that, at the Guernsey Court Meeting and the Extraordinary General Meeting held earlier today, in respect of the recommended combination of Mariana with Sandstorm, Mariana Shareholders voted to:

- Approve the Scheme by the requisite majorities at the Guernsey Court Meeting;

- Pass the Special Resolution in connection with the approval of the Scheme and the amendment of the Mariana Articles at the Extraordinary General Meeting; and

- Pass the Ordinary Resolution in connection with the implementation of the Retention Arrangements at the Extraordinary General Meeting.

In addtion, the Company has confirmed that all resolutions were passed by shareholders at today's Annual General Meeting.

At 1:09pm: (LON:MARL) Mariana Resources Ltd share price was -0.5p at 99.5p


Toevoeging van 26 april j.l.
Sandstorm Gold Ltd. (NYSE MKT: SAND; TSX: SSL) and Mariana Resources Ltd. (TSXV, AIM: MARL) announce plans for Sandstorm to acquire Mariana in a move that officials say will create a mid-tier royalty and streaming company. Officials say the combined group would have a diversified portfolio of 155 streams and royalties, including 20 producing, 23 development-stage, 26 advanced exploration-stage and 86 exploration-stage assets. This would also include a 30% joint-venture interest in Hot Maden, a gold-copper development-stage project, in Turkey. Sandstorm says it intends to move from equity participation in the joint venture to converting the group’s interest into a gold stream. Nolan Watson, president and chief executive officer of Sandstorm, would hold these titles for the combined company. Under the deal, Mariana shareholders will receive 28.75 pence in cash and 0.2573 of a Sandstorm share for each Mariana share held. Mariana shareholders would collectively own 19% of the ordinary share capital in the combined group. Shareholders in both entities must approve the deal.



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