QMX Files Management Information Circular For Special Meeting of Shareholders

The QMX Board of Directors Unanimously Recommends that Shareholders Vote FOR the Arrangement

TORONTO, March 01, 2021 (GLOBE NEWSWIRE) -- QMX Gold Corporation (TSX-V:QMX) (“QMX” or the “Company”) today announced it has filed and is in the process of mailing the management information circular dated February 9, 2021 (the “Circular”) and related materials for the special meeting (the “Meeting”) of the Company’s shareholders (the “Shareholders”) to approve the previously announced plan of arrangement under the Business Corporations Act (Ontario) (the “Arrangement”), pursuant to which Eldorado Gold Corporation (“Eldorado”) will acquire all of the issued and outstanding common shares (the “Shares”) of the Company (not already owned by Eldorado). Pursuant to the Arrangement, each Shareholder will receive, for each Share held, (i) C$0.075 in cash and (ii) 0.01523 of an Eldorado common share, for total consideration of C$0.30 per Share (based on Eldorado’s closing price on January 20, 2021) (the “Arrangement Consideration”), all as more particularly described in the Circular.

Benefits of the Arrangement to Shareholders

• Attractive Premium. The Arrangement Consideration offered to the Shareholders under the Arrangement represents a premium of approximately 39.5% over the closing price of the Shares on January 20, 2021, being the last trading day prior to the announcement of the entering into of the definitive arrangement agreement dated January 20, 2021 between Eldorado and QMX (the “Agreement”).
• Participation by Shareholders in Future Growth of the Combined Company. Shareholders will receive common shares of Eldorado under the Arrangement and will have the opportunity to participate in any future increase in the value of Eldorado, including the current mineral projects of QMX and the diversified portfolio of producing operations and development projects of Eldorado.
• Increased Ability to Advance the Bonnefond Project. Eldorado is a leader in responsible mining practices and has a positive track record in developing and operating gold mining properties. Its strong operational expertise and financial capacity will help accelerate the development of the Bonnefond Project.