VANCOUVER, BRITISH COLUMBIA--(Marketwired - June 14, 2017) - Gold Standard Ventures Corp. ("Gold Standard" or "Company") (TSX VENTURE:GSV)(NYSE MKT:GSV) and Battle Mountain Gold Inc. ("Battle Mountain") (TSX VENTURE:BMG) today completed the previously announced plan of arrangement (the "Arrangement") under the Business Corporations Act (British Columbia) whereby Gold Standard acquired all of the issued and outstanding common shares of Battle Mountain. Battle Mountain is now a wholly-owned subsidiary of Gold Standard.
Under the terms of the Arrangement, former Battle Mountain shareholders (other than Gold Standard) received 0.1891 Gold Standard common shares plus $0.08 in cash for each Battle Mountain common shares held. In addition, other than certain options to acquire common shares of Battle Mountain that were cancelled, options and warrants to acquire common shares of Battle Mountain became exercisable for common shares of Gold Standard, all in accordance with the terms of the Arrangement.
Jonathan Awde, President, CEO and Director of Gold Standard commented: "The acquisition of Battle Mountain Gold and its Lewis project, on the Battle Mountain Trend, Nevada, is consistent with our strategy of acquiring district scale, strategic assets during challenging market conditions. Our expertise in both the systematic exploration of Carlin-style targets, and the consolidation of Nevada assets, ensures the Company will enjoy significant synergies with this acquisition. This year we have commenced our largest ever exploration program at our flagship Railroad-Pinion project - the Lewis project will provide further potential for additional discoveries and consequent shareholder value. On behalf of the Company, we welcome Battle Mountain shareholders into Gold Standard and we look forward to advancing our asset base together for the benefit of all shareholders."
As the Arrangement has now completed, Battle Mountain common shares were de-listed from the TSX Venture Exchange (the "Exchange") effective June 14, 2017. In addition, Battle Mountain will begin the process of applying to cease to be a reporting issuer or the equivalent in the relevant Canadian jurisdictions.