Titan Minerals Receives Overwhelming Support for Takeover of Core Gold - More Than 80% of Core Shares Tendered - Seite 2

Once Titan has taken up the additional Core Shares tendered, Titan will own 83.31% of the issued and outstanding Core Shares.

Titan has extended the period shareholders of Core Gold have to tender their Core Shares under the Offer until 9:00 a.m. (Toronto time) on February 7, 2020 (the “Final Expiry Time”). Having taken up more than 66.6% of the issued and outstanding Core Shares, Titan intends to take steps to acquire all of the remaining outstanding Core Shares. This extension period grants remaining Core Gold shareholders an opportunity to tender their Core Shares to the Offer and to take advantage of the expeditious settlement terms offered. Core Gold shareholders who tender their Core Shares prior to the Final Expiry Time will receive the same per Core Share consideration to be received by Core Gold shareholders whose Core Shares have already been deposited and not withdrawn under the Offer.

Titan has provided a notice of extension to its depositary, AST Trust Company, effective January 27, 2020. The Company does not intend to further extend the offer period, and Core Gold shareholders are encouraged to tender under the Offer as soon as possible to receive consideration for their Core Shares in a timely manner.

Full details of the extension of the period during which additional Core Shares may be tendered under the Offer will be included in a notice of variation and extension, which Titan expects to file on SEDAR (under Core Gold’s profile) at www.sedar.com on January 27, 2020.

Titan Managing Director Laurence Marsland said:

“The over 80% take up of the Offer by Core Gold shareholders is a strong show of support for the strategy and vision of creating an emerging Latin American focused gold explorer, developer and producer, with a large portfolio in Ecuador and Peru.

We now intend to take steps to delist and acquire all of the remaining outstanding Core Shares, and so are extending the period shareholders have to tender their shares under the Offer until February 7, 2020 to provide a final window for shareholders to benefit from the terms of the offer.

With the successful conclusion to the Offer, we are looking forward to being able to proceed with a clear strategy for unlocking the value of these combined assets.

We would like to welcome the new shareholders on board and thank them for their vote of confidence in the combined company.”
Advisers

Titan has engaged Bacchus Capital Advisers Ltd as its exclusive financial and strategic adviser, from a mergers and acquisitions perspective, in connection with the Offer and the Increased Offer. Fasken Martineau DuMoulin LLP is acting as Canadian legal counsel, DLA Piper LLP (Australia) is acting as Australian legal counsel and Gryphon Advisors Inc. is acting as Information Agent.