Fortuna Silver Mines and Roxgold have announced that shareholders have approved all matters voted on at Fortuna’s annual and special meeting as well as at Roxgold’s special meeting and annual meeting, including the proposed acquisition by Fortuna of all of the outstanding common shares of Roxgold by way of a proposed plan of arrangement, pursuant to the terms and subject to the conditions of the arrangement agreement between Fortuna and Roxgold dated effective April 26, 2021.
Subject to the satisfaction or waiver of the remaining conditions to the Arrangement, including approval of the Arrangement by the British Columbia Supreme Court, which application will be heard June 30, 2021, closing of the Arrangement is expected to occur on July 2, 2021.
Following completion of the Arrangement, current Fortuna shareholders and former Roxgold shareholders will own approximately 63.6% and 36.4% of the outstanding Fortuna Shares, respectively. Post-arrangement, Fortuna will continue under the name “Fortuna Silver Mines Inc.” with the ticker symbol “FVI” on the Toronto Stock Exchange and “FSM” on the New York Stock Exchange, and Roxgold will be a wholly-owned subsidiary of Fortuna.
Roxgold will be delisted from the Toronto Stock Exchange and an application will be made for Roxgold to cease to be a reporting issuer.