Auryn and Eastmain Announce Overwhelming Shareholder Support for Acquisition Transaction After Proxy Cut-Off
Auryn Resources Inc. (TSX: AUG, NYSE American: AUG) (“Auryn”) and Eastmain Resources Inc. (TSX: ER) (“Eastmain”) are pleased to jointly announce that proxy voting has concluded with support from shareholders of both companies in excess of 99% for the previously announced transactions pursuant to which Auryn spins out its Peruvian assets and immediately acquires Eastmain (the “Transaction”). No shareholders of either company exercised dissent rights in respect of the Transaction which fulfills another important condition under the arrangement agreement between the parties dated July 29, 2020, which governs completion of the Transaction.
Shareholders who voted by proxy represent 63.90% of Auryn’s issued and outstanding shares and 34.53% of Eastmain’s issued and outstanding shares, which are levels well above the participation of shareholders at Auryn’s and Eastmain’s previous AGMs. It also follows an endorsement from independent proxy advisor Glass Lewis which, like independent proxy advisor ISS last week, recommended shareholders of each of Auryn and Eastmain vote in favour of the Transaction at their respective meeting and shareholders of Auryn vote in favour of all related matters.
Under the Transaction, Auryn will acquire Eastmain after spinning out its Peruvian assets into two new companies and distributing the shares of those new companies to Auryn’s shareholders. The Transaction will also create Fury Gold Mines Limited (“Fury Gold”), a leading developer of Canadian gold projects.
Registered shareholders of both Auryn and Eastmain still have the opportunity to vote at their respective special meeting on October 5, 2020 (the “Meetings”).
A Message from Ivan Bebek, Executive Chairman & Director of Auryn:
“We appreciate the high level of support we received, which should make Monday’s meeting a very positive event. Trading of the shares of Fury Gold Mines will commence on a date to be specified in a TSX bulletin which will be issued shortly after closing of the Transaction.”
A Message from Blair Schultz, Interim President & CEO of Eastmain:
“Eastmain shareholders have enthusiastically supported the proposed acquisition by Auryn. The Board and Management thank our shareholders for the support, and we are eager to watch Fury Gold advance our Eau Claire Project.”
The Meetings will be held concurrently on virtual platforms on Monday, October 5, 2020 at 10:00 a.m. (Vancouver time) / 1:00 p.m. (Toronto time).
Auryn shareholders go to https://web.lumiagm.com/481668070 to login. Click on “I have a login” and enter your 15-digit control number or username along with the password “auryn2020” (case specific).