Almaden Minerals (AMM-T) July 31, '15 is pleased to announce an update in relation to the spin-out transaction (the "Spin-Out") described in the Company's management information circular filed on SEDAR on May 15, 2015.
All conditions to the statutory plan of arrangement (the "Plan of Arrangement") have been satisfied or waived, and the Spin-Out was effective as at 12:01 a.m. on July 31, 2015.
Pursuant to the Plan of Arrangement, Almaden's shareholders will exchange their existing common shares of Almaden (each an "Almaden Share") and receive one "new" Almaden common share (each a "New Almaden Share") and 0.6 common shares (each an "Almadex Share") of Almadex Minerals Limited ("Almadex") for each Almaden Share currently held.
Almaden anticipates that New Almaden Shares will commence trading on the Toronto Stock Exchange (the "TSX") and the NYSE MKT on Monday August 10, 2015. In order to benefit from the Spin-Out and receive Almadex Shares, an investor must hold, or execute a trade to purchase, Almaden Shares on the TSX or the NYSE MKT before the close of trading on Friday August 7, 2015.
We anticipate the TSX Venture Exchange (the "TSXV") will issue a bulletin in respect of the commencement of trading of the Almadex Shares, under the symbol "AMZ", within three business days of the commencement of trading of the New Almaden Shares.
If your existing Almaden Shares (CUSIP 020283107) are held through a broker, such broker, or the depositary with which your broker holds such Almaden Shares, will be responsible for dealing with the exchange of these Almaden Shares for New Almaden Shares (CUSIP 020283305) and the distribution of Almadex Shares (CUSIP 020289104) on your behalf.
Almaden has mailed letters of transmittal to all eligible registered Almaden shareholders. To receive certificates representing New Almaden Shares and Almadex Shares, registered Almaden shareholders must surrender their existing certificates for Almaden Shares, together with a duly completed letter of transmittal, to Computershare Investor Services Inc. ("Depositary") at the address shown on the letter of transmittal. Upon surrender to the Depositary for cancellation of a certificate representing Almaden Shares, together with a properly executed letter of transmittal, the holder of such surrendered certificate will be entitled to receive, and the Depositary will deliver to such holder, certificates representing that number (rounded to the nearest whole number) of New Almaden Shares and Almadex Shares that such holder has the right to receive pursuant to the Plan of Arrangement and the surrendered certificate will be cancelled.
Additional information regarding the Spin-Out, which may be of use to Almaden shareholders for tax purposes, will be made available on Almaden's website at www.almadenminerals.com.
About Almaden
Almaden is a well-financed mineral exploration company working in North America. The company is actively developing its 100% owned Ixtaca gold-silver deposit in Mexico. The Company has assembled mineral exploration projects in Canada, the United States and Mexico, including the Ixtaca deposit through its past grass roots exploration efforts. Uniquely, the Company has pioneered a new geologic and mineral district in Eastern Mexico through conceptual science-driven exploration. This resulted in the acquisition through staking of a portfolio of early stage exploration properties, each of which represent exciting opportunities for the potential discovery of significant gold, silver and copper deposits as evidenced at Ixtaca. Since going public in 1986, Almaden's business model has been to find, acquire and develop mineral projects in partnership with other mining enterprises with a willingness to fund tenure payments and exploration expenditures, which limits Almaden's share dilution. The Company has expanded this business model, described by some as prospect generation, by more aggressively advancing and developing its projects towards production, including the Ixtaca deposit.
On Behalf of the Board of Directors,
"Morgan Poliquin"
Morgan J. Poliquin, Ph.D., P.Eng.
President, CEO and Director
Almaden Minerals Ltd.
Almaden Minerals Ltd.
ph: 604.689.7644
email: info@almadenminerals.com
www.almadenminerals.com |
