Discovery Shareholders Overwhelmingly Approve Share Issuance Resolution
Discovery Silver Corp (TSX: DSV, OTCQX: DSVSF) announced that shareholders have overwhelmingly approved the Share Issuance Resolution related to the acquisition of Newmont 's Porcupine Complex. The special meeting saw participation from 221,843,126 common shares (55.40% of total shares), with 99.85% voting in favor of the resolution.
The acquisition, expected to close in first half of 2025, will transform Discovery into a new Canadian gold producer with multiple operations near Timmins, Ontario. The closing remains subject to completion of a pre-closing reorganization by Newmont affiliates (requiring Ontario's Ministry of Mines consent) and other regulatory approvals.
Discovery currently owns the Cordero project in Chihuahua State, Mexico, one of the world's largest undeveloped silver deposits. The Porcupine Complex acquisition will add significant gold production capabilities in a renowned mining region with substantial growth potential.
Discovery Silver Corp (TSX: DSV, OTCQX: DSVSF) ha annunciato che gli azionisti hanno approvato in modo schiacciante la Risoluzione per l'Emissione di Azioni relativa all'acquisizione del Porcupine Complex di Newmont. La riunione straordinaria ha visto la partecipazione di 221.843.126 azioni ordinarie (55,40% del totale delle azioni), con il 99,85% che ha votato a favore della risoluzione.
L'acquisizione, prevista per concludersi nella prima metà del 2025, trasformerà Discovery in un nuovo produttore canadese di oro con più operazioni nei pressi di Timmins, Ontario. La chiusura è soggetta al completamento di una riorganizzazione pre-chiusura da parte delle affiliate di Newmont (che richiede il consenso del Ministero delle Miniere dell'Ontario) e ad altre approvazioni normative.
Attualmente, Discovery possiede il progetto Cordero nello Stato di Chihuahua, Messico, uno dei più grandi giacimenti d'argento non sviluppati al mondo. L'acquisizione del Porcupine Complex aggiungerà significative capacità di produzione d'oro in una rinomata regione mineraria con un notevole potenziale di crescita.
Discovery Silver Corp (TSX: DSV, OTCQX: DSVSF) anunció que los accionistas han aprobado abrumadoramente la Resolución de Emisión de Acciones relacionada con la adquisición del Porcupine Complex de Newmont. La reunión especial contó con la participación de 221,843,126 acciones comunes (55.40% del total de acciones), con el 99.85% votando a favor de la resolución.
La adquisición, que se espera cerrar en la primera mitad de 2025, transformará a Discovery en un nuevo productor canadiense de oro con múltiples operaciones cerca de Timmins, Ontario. El cierre está sujeto a la finalización de una reorganización previa al cierre por parte de las afiliadas de Newmont (que requiere el consentimiento del Ministerio de Minas de Ontario) y otras aprobaciones regulatorias.
Actualmente, Discovery posee el proyecto Cordero en el estado de Chihuahua, México, uno de los depósitos de plata no desarrollados más grandes del mundo. La adquisición del Porcupine Complex agregará importantes capacidades de producción de oro en una región minera renombrada con un considerable potencial de crecimiento.
Discovery Silver Corp (TSX: DSV, OTCQX: DSVSF)는 주주들이 Newmont의 Porcupine Complex 인수와 관련된 주식 발행 결의안을 압도적으로 승인했다고 발표했습니다. 특별 회의에는 221,843,126주의 보통주(총 주식의 55.40%)가 참여했으며, 99.85%가 결의안에 찬성했습니다.
이번 인수는 2025년 상반기에 마무리될 예정이며, Discovery를 온타리오주 팀민스 인근에서 여러 운영을 가진 새로운 캐나다 금 생산자로 변모시킬 것입니다. 마감은 Newmont의 계열사에 의한 사전 마감 재조직 완료(온타리오 주 광업부의 동의 필요) 및 기타 규제 승인을 조건으로 합니다.
Discovery는 현재 멕시코 치와와 주에 있는 Cordero 프로젝트를 소유하고 있으며, 이는 세계에서 가장 큰 미개발 은 매장지 중 하나입니다. Porcupine Complex 인수는 상당한 성장 잠재력을 가진 유명한 광산 지역에서 중요한 금 생산 능력을 추가할 것입니다.
Discovery Silver Corp (TSX: DSV, OTCQX: DSVSF) a annoncé que les actionnaires ont approuvé massivement la Résolution d'Émission d'Actions liée à l'acquisition du Porcupine Complex de Newmont. La réunion extraordinaire a vu la participation de 221.843.126 actions ordinaires (55,40% du total des actions), avec 99,85% votant en faveur de la résolution.
L'acquisition, prévue pour se clôturer au premier semestre 2025, transformera Discovery en un nouveau producteur canadien d'or avec plusieurs opérations près de Timmins, Ontario. La clôture est soumise à l'achèvement d'une réorganisation préalable à la clôture par les affiliés de Newmont (requérant le consentement du ministère des Mines de l'Ontario) et à d'autres approbations réglementaires.
Discovery possède actuellement le projet Cordero dans l'État de Chihuahua, au Mexique, l'un des plus grands gisements d'argent non développés au monde. L'acquisition du Porcupine Complex ajoutera d'importantes capacités de production d'or dans une région minière renommée avec un potentiel de croissance substantiel.
Discovery Silver Corp (TSX: DSV, OTCQX: DSVSF) hat angekündigt, dass die Aktionäre die Beschlussfassung zur Aktienemission im Zusammenhang mit der Übernahme des Porcupine Complex von Newmont überwältigend genehmigt haben. Die außerordentliche Sitzung verzeichnete eine Teilnahme von 221.843.126 Stammaktien (55,40% der Gesamtaktien), wobei 99,85% für den Beschluss stimmten.
Die Übernahme, die in der ersten Hälfte des Jahres 2025 abgeschlossen werden soll, wird Discovery in einen neuen kanadischen Goldproduzenten mit mehreren Betrieben in der Nähe von Timmins, Ontario, verwandeln. Der Abschluss steht unter dem Vorbehalt der Durchführung einer Vorabschlussreorganisation durch die Tochtergesellschaften von Newmont (die die Zustimmung des Ministeriums für Bergbau von Ontario erfordert) und anderer regulatorischer Genehmigungen.
Discovery besitzt derzeit das Cordero-Projekt im Bundesstaat Chihuahua, Mexiko, eines der größten unerschlossenen Silbervorkommen der Welt. Die Übernahme des Porcupine Complex wird bedeutende Goldproduktionskapazitäten in einer renommierten Bergbauregion mit erheblichem Wachstumspotenzial hinzufügen.
- Strong shareholder support with 99.85% approval for the acquisition
- Transformation into a multi-asset producer with both silver and gold operations
- Strategic expansion into established Timmins gold mining district
- Addition of significant mineral resources with growth potential
- Acquisition closing subject to multiple regulatory approvals and conditions
- Share dilution due to new share issuance for acquisition
TORONTO, March 27, 2025 (GLOBE NEWSWIRE) -- Discovery Silver Corp. (TSX: DSV, OTCQX: DSVSF) (“Discovery” or the “Company”) is pleased to announce that shareholders of Discovery (“Shareholders”) overwhelmingly approved the issuance of shares (the “Share Issuance Resolution”) relating to the previously announced acquisition of Newmont Corporation’s Porcupine Complex (the "Acquisition") at the special meeting (the “Meeting”) of Shareholders held earlier today.
A total of 221,843,126 common shares of Discovery were represented at the Meeting, in person or by proxy, representing approximately
The Share Issuance Resolution was overwhelmingly approved at the Meeting by
To be effective, the Share Issuance Resolution required the affirmative vote of a majority of the votes cast by the Shareholders, present or represented by proxy at the Meeting. Accordingly, the Shareholder approval has been obtained to proceed with the issuance of all consideration shares for the Acquisition as further described in the management information circular of Discovery dated February 24, 2025 (the "Circular").
The Acquisition is expected to close in the first half of 2025, subject to, among other things, the completion of a pre-closing reorganization by affiliates of Newmont Corporation (with the reorganization being subject to certain approvals, including the consent of Ontario's Ministry of Mines), receipt of all required regulatory approvals and the satisfaction or waiver of certain other customary closing conditions.
Additional details of the voting results will be included in a report of voting results to be filed on SEDAR+ (www.sedarplus.ca) under Discovery's issuer profile. Additional details about the Acquisition and the Share Issuance Resolution can be found in the Circular, a copy of which is available on SEDAR+ (www.sedarplus.ca) under Discovery's issuer profile and on the Company’s website at www.discoverysilver.com.
ABOUT DISCOVERY
Discovery is a growing North American precious metals company. The Company has exposure to silver through its first asset, the
On Behalf of the Board of Directors,
Tony Makuch, P.Eng
President, CEO & Director
For further information contact:
Mark Utting, CFA
VP Investor Relations
Phone: 416-806-6298
Email: mark.utting@discoverysilver.com
Website: www.discoverysilver.com
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS
This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. All information, other than statements of historical facts, included in this press release that address activities, events or developments that the Company expects or anticipates will or may occur in the future, including such things as future business strategy, competitive strengths, goals, expansion and growth of the Company's businesses, operations, plans and other such matters are forward-looking information.
When used in this press release, the words "estimate", "plan", "continue", "anticipate", "might", "expect", "project", "intend", "may", "will", "shall", "should", "could", "would", "predict", "predict", "forecast", "pursue", "potential", "believe" and similar expressions are intended to identify forward-looking information. This information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results or performance expressed or implied by such forward-looking information.
Examples of such forward-looking information include information pertaining to, without limitation, statements with respect to: the anticipated timing and closing of the Acquisition; the receipt of all required regulatory approvals and satisfaction of all closing conditions; and other events or conditions that may occur in the future. Factors that could cause actual results to vary materially from results anticipated by such forward-looking statements include, among others: the ability to satisfy of all conditions to closing the Acquisition, including receipt of all required third-party approvals, on the timeframe contemplated; and those factors included herein and elsewhere in the Company's public disclosure.
Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated, or intended. See the sections entitled "Risk Factors" in the Circular and in Schedule "B" to the Circular, and in the section entitled "Risk Factors" in the Company's annual information form dated as of March 28, 2024 for the financial year ended December 31, 2023, for additional risk factors that could cause results to differ materially from forward-looking statements.
There can be no assurance that such information will prove to be accurate as actual developments or events could cause results to differ materially from those anticipated. These include, among others, the factors described or referred to elsewhere herein and include unanticipated and/or unusual events. Many of such factors are beyond the Company's ability to predict or control.
The forward-looking information included in this press release is expressly qualified by the foregoing cautionary statements. Readers of this press release are cautioned not to put undue reliance on forward-looking information due to its inherent uncertainty. The Company disclaims any intent or obligation to update any forward-looking information, whether as a result of new information, future events or results or otherwise, unless required under applicable laws. This forward-looking information should not be relied upon as representing management's views as of any date subsequent to the date of this press release.
FAQ
What percentage of Discovery Silver (DSVSF) shareholders approved the Porcupine Complex acquisition?
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What assets will Discovery Silver (DSVSF) own after completing the Porcupine Complex acquisition?
What regulatory approvals are needed for Discovery Silver's (DSVSF) Porcupine acquisition?
