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Calibre Mining Mails and Files Special Meeting Materials In Connection with The Proposed Transaction With Fiore Gold

For any questions please contact Calibre’s strategic shareholder advisor and proxy solicitation agent, Laurel Hill Advisory Group, toll free at 1-877-452-7184 (+1-416-304-0211 outside North America) or email assistance@laurelhill.com.

VANCOUVER, British Columbia, Dec. 08, 2021 (GLOBE NEWSWIRE) -- Calibre Mining Corp. (TSX: CXB; OTCQX: CXBMF) (“Calibre” or the “Company”) announced today the filing and mailing of its management information circular (the “Circular”) and related materials for the special meeting (the “Meeting”) of Calibre shareholders (the “Shareholders”) to consider and approve (i) the issuance of common shares of Calibre (“Calibre Shares”) pursuant to a plan of arrangement (the “Arrangement”) whereby Calibre will acquire all of the issued and outstanding common shares of Fiore Gold Ltd. (“Fiore”), which approval is required under the policies of the Toronto Stock Exchange (the “TSX”), and (ii) certain amendments to Calibre’s amended and restated long-term incentive plan (the “LTIP Amendments”), which will be implemented only upon the completion of the Arrangement. The Arrangement will create a diversified, Americas-focused, growing mid-tier gold producer with targeted annual gold production of approximately 245,000 ozs.1 The combined company will have comprehensive technical capabilities to exploit a pipeline of development and exploration opportunities across a broader portfolio. This growth strategy will be supported by a strong balance sheet with a combined cash balance of $96 million and no bank debt (as at September 30, 2021).

Calibre will be acquiring a 100% interest in Fiore’s operating Pan Gold Mine (the “Pan Mine”), the adjacent advanced-stage Gold Rock Project (“Gold Rock”), and the past producing Illipah Gold Project in Nevada, as well as the Golden Eagle project in Washington State.

Materials for the Meeting, including the Circular, are available on SEDAR at www.sedar.com and on the Company’s website at www.calibremining.com

HIGHLIGHTS OF THE TRANSACTION

  • Creates a diversified, Americas-focused, growing mid-tier gold producer with targeted annual gold production of approximately 245,000 ozs and AISC of $1,020 per ounce.1
  • Nevada gold production of 50,000 ozs per year at the Pan Mine.1
  • Supported by a mineral resource base of 4.4 Mozs measured and indicated and 3.1 Mozs inferred.
  • Strong balance sheet with $96M in cash and zero bank debt (as at September 30, 2021).
  • Strong free cash flow generation to fully fund organic growth initiatives.
  • Growth driven by near-term development of the federally permitted and fully-funded Gold Rock project in Nevada and the Eastern Borosi project in Nicaragua.
  • Multiple near-mine, high impact exploration targets to support mineral reserve and mine life expansion.
  • Proven management team, led by Darren Hall as Chief Executive Officer and Blayne Johnson as Chairman, with a long track record of shareholder value creation.
  • Attractive relative valuation versus gold peers.
  • Enhanced market presence with broad research analyst coverage, trading liquidity and index conclusions.

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Nachrichtenquelle: globenewswire
08.12.2021, 14:17  |  104   |   |   

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Calibre Mining Mails and Files Special Meeting Materials In Connection with The Proposed Transaction With Fiore Gold For any questions please contact Calibre’s strategic shareholder advisor and proxy solicitation agent, Laurel Hill Advisory Group, toll free at 1-877-452-7184 (+1-416-304-0211 outside North America) or email assistance@laurelhill.com. VANCOUVER, …

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