Mega Precious Metals Inc. Announces Receipt of Final Court Approval for Arrangement with Yamana Gold Inc.
June 19, 2015
Mega Precious Metals Inc. (MGP:TSX-V) (“Mega” or the “Company”) is pleased to announce that Mega has received final court approval for the previously announced proposed arrangement (the “Arrangement”) with Yamana Gold Inc. (“Yamana”). Under the Arrangement, Yamana will, subject to the provisions of the arrangement agreement dated April 23, 2015 between Mega and Yamana, acquire all of the outstanding shares of Mega for consideration of 0.02092 of a Yamana share and cash of C$0.001 per Mega share.
Mega expects that the remaining conditions to the closing of the Arrangement will be satisfied by June 22, 2015 and that the closing of the Arrangement will occur on that date.
Mega Precious Metals Inc. is a leading Canadian-based exploration company with a high quality pipeline of projects located in the mining friendly jurisdictions of Manitoba, Northwestern Ontario and Nunavut. The Company’s significant portfolio includes the flagship Monument Bay Gold Tungsten Project in NE Manitoba as well as the N. Madsen Gold Project in the prolific gold mining district of Red Lake, Ontario. Mega has established a record of delivering rapid growth through their focused and low cost approach to exploration and resource development. The Company’s common shares trade on the TSX Venture Exchange under the symbol MGP.
For further information and presentation material, please review the Mega website at www.megapmi.com
For further information, please contact:
Mega Precious Metals Inc.
Glen Kuntz, P.Geo.
President, Chief Executive Officer & Director