Independent Proxy Advisory Firm ISS Recommends Eastmain Shareholders Vote FOR Proposed Arrangement with Auryn Resources Inc. and Supplemental Disclosure in Respect of the Eastmain Arrangement
Eastmain Resources Inc. (“Eastmain” or the “Company” - TSX:ER, OTCQB: EANRF), is pleased to announce that Institutional Shareholder Services (“ISS”), an independent proxy advisory firm who provides voting recommendations to institutional shareholders has recommended that Eastmain shareholders (the "Shareholders") vote FOR the proposed special resolution (the “Arrangement Resolution”) at the upcoming special meeting (the “Meeting”) of Eastmain securityholders (the “Securityholders”) to approve the proposed plan of arrangement with Auryn Resources Inc. (“Auryn”) pursuant to which Auryn will, among other things, acquire all of the issued and outstanding common shares of Eastmain (“Eastmain Shares”) (the “Transaction”) by way of a statutory plan of arrangement under the Business Corporations Act (Ontario) (the “Eastmain Arrangement”).
In recommending that Shareholders vote FOR the Arrangement Resolution, ISS noted that the Transaction makes strategic sense as it will result in a Canadian-focused gold exploration and development company with a stronger financial position and larger capital market base.
The Meeting is scheduled to be held virtually on October 5, 2020 at 1:00 p.m. (Toronto time), through the platform of AGM Connect at www.agmconnect.com/eastmain2020.
YOUR VOTE IS IMPORTANT – PLEASE VOTE TODAY
Full details of the Transaction are described in the management information circular of Eastmain dated September 3, 2020 (the “Eastmain Information Circular”), as supplemented by the additional disclosure below. The Eastmain Information Circular was mailed, alongside related voting materials (together with the Eastmain Information Circular, as supplemented by the additional disclosure below, the “Meeting Materials”) to Securityholders of record as of August 24, 2020 in connection with the Meeting. The Meeting Materials are also available on SEDAR under the Company’s profile at www.sedar.com and on the Company’s website at www.eastmain.com.