MONTREAL, QUEBEC--(Marketwired - Jun 2, 2014) - Osisko Mining Corporation ("Corporation" or "Osisko") (OSK:TSX)(EWX.F) is pleased to announce that the plan of arrangement, pursuant to which Agnico Eagle Mines Limited and Yamana Gold Inc. will acquire all the issued and outstanding common shares of the Corporation (the "Arrangement"), was approved by the shareholders with approximately 99.80% of the votes cast at the annual and special meeting held on May 30, 2014 (the "meeting") voting in favour of the Arrangement.
Under the Arrangement, each outstanding common share of Osisko will be exchanged for C$2.09 in cash, 0.07264 of a common share of Agnico Eagle, 0.26471 of a common share of Yamana, and one common share of a newly formed company that will acquire certain assets of Osisko as part of the Arrangement ("New Osisko"). The Arrangement is expected to close during the month of June and Osisko shareholders are invited to communicate with Laurel Hill Advisory Group as Depository Agent for the Arrangement for instructions on tendering their shares at:
North American Toll Free: 1-877-452-7184
Banks, Brokers or collect calls: 416-304-2011
Election of Directors
In addition, given the sudden passing of Mr. Marcel Côté on May 25, 2014, the Corporation also confirms that 10 of the 11 directors proposed by Management were elected at the meeting as directors of the Corporation.
Based on the proxies received and the votes on a show of hands, the following individuals were elected as directors of the Corporation until the next annual shareholders' meeting. Accordingly, the results are set out below:
|Name of Nominee||Votes cast |
|% of votes cast |
|Votes cast |
|% of votes cast |
|Victor H. Bradley||331,556,297||98.04%||6,619,443||1.96%|
|John F. Burzynski||323,782,889||95.74%||14,392,851||4.26%|
|Staph Leavenworth Bakali||328,309,592||97.08%||9,866,148||2.92%|
|William A. MacKinnon||337,612,768||99.83%||562,972||0.17%|
|Charles E. Page||312,831,076||92.51%||25,344,664||7.49%|
|Gary A. Sugar||328,287,309||97.08%||9,888,431||2.92%|
All other resolutions provided for in the Management Information Circular were duly passed and as such a report on the voting results were filed today with the Canadian securities regulatory authorities at www.sedar.com.
About Osisko Mining Corporation
Osisko operates the Canadian Malartic Gold Mine in Malartic, Quebec and is pursuing exploration on a number of properties, including the Hammond Reef Gold and Upper Beaver projects in Northern Ontario.
About Agnico Eagle
Agnico Eagle is a senior Canadian gold mining company that has produced precious metals since 1957. Its seven mines are located in Canada, Finland and Mexico, with exploration and development activities in each of these regions as well as in the United States.
Yamana is a Canadian-based gold producer with significant gold production, gold development stage properties, exploration properties, and land positions throughout the Americas including Brazil, Argentina, Chile and Mexico.
Certain statements contained in this press release may be deemed "forward-looking statements". All statements in this release, other than statements of historical fact, that address events or developments that Osisko, Agnico Eagle and Yamana expect to occur, are forward looking statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential", "scheduled" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur including, without limitation, the timely satisfaction of all technical, economical, regulatory and financial conditions in order to complete the Arrangement between Osisko, Agnico Eagle and Yamana. Although Osisko, Agnico Eagle and Yamana believe the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include, gold prices, results of exploration and development activities, the Corporation's limited experience with production and development stage mining operations uninsured risks, regulatory changes, defects in title, availability of personnel, materials and equipment, timeliness of government or court approvals, actual performance of facilities, equipment and processes relative to specifications and expectations, unanticipated environmental impacts on operations market prices, continued availability of capital and financing and general economic, market or business conditions. These factors are discussed in greater detail in Osisko, Agnico Eagle and Yamana's most recent Annual Information Forms, which are filed on SEDAR and also provide additional general assumptions in connection with these statements. Osisko, Agnico Eagle and Yamana caution that the foregoing list of important factors is not exhaustive. Investors and others who base themselves on the forward looking statements contained herein should carefully consider the above factors as well as the uncertainties they represent and the risk they entail. Osisko, Agnico Eagle and Yamana believe that the expectations reflected in those forward-looking statements are reasonable, but no assurance can be given that these expectations will prove to be correct and such forward-looking statements included in this press release should not be unduly relied upon. These statements speak only as of the date of this press release. Osisko, Agnico Eagle and Yamana undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, other than as required by applicable law.