Second Leading Proxy Advisory Firm, Glass Lewis, Supports Golden Arrow Proposed Sale of its 25% Interest in Puna Operations
TSX VENTURE: GRG
VANCOUVER, Sept. 6, 2019 /CNW/ - Golden Arrow Resources Corporation (TSX-V: GRG, FSE: G6A, OTCQB: GARWF), ("Golden Arrow" or the "Company") is pleased to announce that Glass Lewis & Co. ("Glass Lewis"), the second leading independent proxy advisory firm that provides voting recommendations to investors, has recommended that shareholders vote in favour of the sale of its 25% interest in Puna Operations Inc. ("Puna Operations") to its joint venture partner SSR Mining Inc. ("SSR Mining") for aggregate consideration of $44.4 million (the "Transaction").
Recommendation to Shareholders of Golden Arrow
Glass Lewis has recommended that shareholders of Golden Arrow vote in favour of a special resolution (the "Golden Arrow Shareholders Resolution") authorizing and approving a Transaction whereby, SSR Mining will purchase Golden Arrow's 25% interest in Puna Operations.
Glass Lewis noted "we see a reasonable basis for the board's decision to sell the Company's 25% interest in Puna to its joint venture partner, which will allow the Company to focus on the exploration and development of its other assets. The transaction will generate at least some cash proceeds for the Company to use in this regard, while also providing continued exposure to Puna and SSR's other assets through the issuance of SSR shares to the Company as consideration. Overall, we believe Golden Arrow shareholders will likely benefit from the proposed sale."
YOUR VOTE IS IMPORTANT - PLEASE VOTE TODAY
The Board of Directors UNANIMOUSLY recommends that Shareholders vote FOR the Golden Arrow Shareholders Resolution.
Submit your vote well in advance of the proxy deposit deadline of
10:00 a.m. (Vancouver time) on Thursday, September 12, 2019
Registered shareholders may attend the Meeting and vote in person or by proxy using any of the following methods:
- Internet – www.investorvote.com
- Telephone – 1-866-732-8683
- Facsimile – (416) 263-9524 or 1-866-249-7775
- Mail – Computershare Investor Services Inc. (Attn: Proxy Department) at 100 University Avenue, 8th Floor, Toronto, Ontario, Canada, M5J 2Y1
Shareholders who hold shares of Golden Arrow through a broker, bank or other intermediary will have different voting instructions and should carefully follow the voting instructions provided to them, including with respect to voting online at www.proxyvote.com.
Shareholder Questions and Voting Assistance
Laurel Hill Advisory Group
North American Toll-Free: 1-877-452-7148
Collect Call Outside North America: +1-416-304-0211
About Golden Arrow:
Golden Arrow Resources Corporation is an exploration company earning production income. The Company has a successful track record of creating value by making precious and base metal discoveries and advancing them into exceptional deposits. Golden Arrow owns a 25% share of Puna Operations Inc., a joint venture operated by SSR Mining. Golden Arrow is actively exploring a new portfolio of advanced projects in Chile, as well as its new district-scale Tierra Dorada project in Paraguay and other targets within its portfolio of more than 185,000 hectares of properties in Argentina. The Company is a member of the Grosso Group, a resource management group that has pioneered exploration in Argentina since 1993.
For more information, please view details related to the Transaction at Click Here
ON BEHALF OF THE BOARD
Mr. Joseph Grosso,
Executive Chairman, President and CEO
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release may contain forward-looking statements. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. Readers are encouraged to refer to the Company's public disclosure documents for a more detailed discussion of factors that may impact expected future results. The Company undertakes no obligation to publicly update or revise any forward-looking statements.