Goldrock Mines (GRM-V) and Fortuna Silver Mines (FVI-T) July 28, '16 are pleased to report that Fortuna has completed its previously announced acquisition of all of the issued and outstanding shares of Goldrock by way of plan of arrangement. Goldrock is now a wholly-owned subsidiary of Fortuna. Pursuant to the Arrangement, Goldrock shareholders received 0.1331 of a common share of Fortuna (each whole share, a "Fortuna Share") for each Goldrock Share held. Additionally, outstanding warrants to purchase Goldrock Shares are now exercisable for Fortuna Shares based on the same exchange ratio.
The Arrangement was approved by the Supreme Court of British Columbia in its final order dated July 26, 2016. The Arrangement remains subject to final approval by the Toronto Stock Exchange, the New York Stock Exchange and the TSX Venture Exchange (the "TSX-V").
The delisting of the Goldrock Shares from the TSX-V is expected to occur at the close of business on or about July 28, 2016 and applications will be made for Goldrock to cease being a reporting issuer in the applicable jurisdictions.
Full details of the Arrangement are set out in Goldrock's management information circular dated June 17, 2016, which is filed under Goldrock's SEDAR profile at www.sedar.com.
About Fortuna Silver Mines Inc.
Fortuna is a growth oriented, silver and base metal producer focused on mining opportunities in Latin America. Our primary assets are the Caylloma silver mine in southern Peru and the San Jose silver-gold mine in Mexico. The company is selectively pursuing acquisition opportunities throughout the Americas and in select other areas. For more information, please visit our website at www.fortunasilver.com.
About the Lindero Gold Project
Goldrock is the 100% owner of the Lindero gold deposit located in Salta province, northwestern Argentina. Goldrock has been granted permits by the Salta provincial government for the development of Lindero as an open pit, heap leach gold mine. In addition, Goldrock has received formal public declaration of support for the Lindero development by the provincial government, recognizing Lindero as the priority development project for Salta province.
| | | | | ON BEHALF OF THE BOARD OF FORTUNA | | ON BEHALF OF THE BOARD OF GOLDROCK | | | | | | Jorge A. Ganoza | | Paul Matysek | | President, CEO and Director | | President, CEO and Director | Fortuna Silver Mines Inc.
Fortuna Silver Mines Inc.
Investor Relations:
Carlos Baca
T (Peru): +51.1.616.6060, ext. 0
www.fortunasilver.com | | |
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