VANCOUVER, British Columbia, May 10, 2021 (GLOBE NEWSWIRE) -- GT Gold Corp. (TSX-V:GTT; OTCQX:GTGDF) (the “Company” or “GT Gold”) today announced that all of the required regulatory approvals have been obtained with respect to the proposed plan of arrangement (the “Arrangement”) pursuant to which Newmont Corporation ("Newmont") will acquire all of the issued and outstanding common shares of the Company (the "Shares"), which it and its affiliates do not already own, by way of a plan of arrangement. Under the terms of the Arrangement, shareholders of GT Gold, other than in respect of those Shares already owned by Newmont and its affiliates, will receive C$3.25 per Share in cash.
The parties currently anticipate that the transaction will close on or about May 17, 2021.
Shareholders who have questions or require assistance with submitting their Shares to the Arrangement may direct their questions to Computershare Investor Services Inc., who is acting as depositary under the Arrangement. Further information regarding the Arrangement is available in the management information circular of the Company dated April 6, 2021, which is available under GT Gold's profile on SEDAR at www.sedar.com.
About GT Gold Corp.
GT Gold is engaged in advancing its wholly-owned, 47,500 hectare Tatogga property, located in the renowned "Golden Triangle" near Iskut, British Columbia. To date, GT Gold has made two significant discoveries on the Tatogga property, "Saddle South", a precious metal rich vein system and "Saddle North", a gold-rich copper porphyry system.
Investor Contact
| GT Gold Corp. Paul Harbidge President and Chief Executive Officer Tel: (236) 427 5744 Website: www.gtgoldcorp.ca | GT Gold Corp. Shawn Campbell Chief Financial Officer Tel: (236) 427 5744 |
Cautionary Statement on Forward-Looking Information
This press release contains certain statements that constitute forward-looking information within the meaning of applicable securities laws ("forward-looking statements") regarding the proposed transaction including the anticipated completion and timing thereof. The words "believe", "expect", "anticipate", "estimate", "intend", "may", "will", "would", "could", "should", "continue", "goal", "objective", and similar expressions and the negative of such expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words.
Certain material factors and assumptions were applied in providing these forward-looking statements. Forward-looking information involves numerous assumptions including assumptions concerning the receipt, in a timely manner, of required approvals in respect of the Arrangement and the satisfaction of the other closing conditions to the Arrangement. Management believes that the expectations reflected in forward-looking statements are based upon reasonable assumptions; however, management can give no assurance that actual results will be consistent with these forward-looking statements. Not all factors which affect our forward-looking information are known, and actual results may vary from projected results in a material respect, and may be above or below the forward-looking information presented in a material respect.
Forward-looking statements are subject to various risks and uncertainties which could cause actual results and expectations to differ materially from the anticipated results or expectations expressed in this press release. The anticipated timeline for completion of the Arrangement may change for a number of reasons, including the inability to secure necessary approvals in the time assumed or the need for additional time to satisfy the conditions to the completion of the Arrangement. As a result of the foregoing, readers should not place undue reliance on the forward-looking statements contained in this press release concerning the timing of the transaction. A comprehensive discussion of other risks that impact GT Gold can also be found on the Company's most recently filed annual MD&A for the year ended December 31, 2020, available on SEDAR at www.sedar.com.
GT Gold does not undertake any obligation to update forward-looking statements should the factors and assumptions related to its plans, estimates, projections, beliefs and opinions, including those listed above, change except as required by applicable securities laws.
All of the forward-looking statements made in this press release are qualified by these cautionary statements and other cautionary statements or factors contained herein and there can be no assurance that the actual results or developments will be realized or, even if substantially realized, that they will have the expected consequences to, or effects on, the Company.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.