Brief: GCM Mining And Aris Gold Combine To Create Americas Gold Producer

Aris Mining

25/07/2022 11:18

July 25 (Reuters) - Aris Gold Corp  ARIS.TO :
    * GCM MINING AND ARIS GOLD COMBINE TO CREATE A LEADING
AMERICAS
GOLD PRODUCER
    * ARIS GOLD CORP - SUBSTANTIAL COMBINED GOLD RESERVE OF 3.8
MOZ
AND RESOURCE BASE OF 18.3 MOZ MEASURED & INDICATED AND 7.7 MOZ
INFERRED
    * ARIS GOLD CORP - COMBINED GROUP WILL BE LED BY NEIL
WOODYER AS
CEO
    * ARIS GOLD CORP - NO PREMIUM, ALL-SHARE BUSINESS
COMBINATION
    * ARIS GOLD CORP - COMBINED GROUP WILL BE LED BY NEIL
WOODYER AS
CEO AND CORPORATE OFFICE WILL BE BASED IN VANCOUVER, CANADA
    * ARIS GOLD CORP - BOTH LOMBARDO PAREDES, CEO OF GCM, AND
MIKE
DAVIES, CFO OF GCM, WILL RETIRE FROM THEIR ROLES WITH GCM
    * ARIS GOLD - ESTIMATED G&A COST SAVINGS OF US$10 MILLION
PER YEAR
THROUGH REDUCTION OF DUPLICATIVE PUBLIC CO EXPENSES AND
RATIONALIZING OTHER EXPENSES
    * ARIS GOLD CORP - SERAFINO IACONO WILL STEP BACK FROM AN
EXECUTIVE ROLE BUT WILL CONTINUE AS A MEMBER OF BOARD, AN
ADVISOR ON MATTERS IN COLOMBIA
    * ARIS GOLD - ALL OUTSTANDING ARIS GOLD SHARES NOT HELD BY
GCM
WILL BE EXCHANGED AT RATIO OF 0.5 OF COMMON SHARE OF GCM FOR
EACH COMMON SHARE OF ARIS GOLD
    * ARIS GOLD - GCM SHAREHOLDERS, CO'S SHAREHOLDERS ARE
EXPECTED TO
OWN, ON A DILUTED IN-THE-MONEY BASIS, ABOUT 74% AND 26% OF
COMBINED GROUP, RESPECTIVELY

Source text for Eikon:  ID:nGNX55Q4bk 
Further company coverage:  ARIS.TO 

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