ISS and Glass Lewis Support the Plan of Arrangement Between Battle North Gold Corporation and Evolution Mining Limited

TORONTO, May 6, 2021 /CNW/ - Battle North Gold Corporation (TSX: BNAU) (OTCQX: BNAUF) ("Battle North" or the "Company") today announced that Institutional Shareholder Services Inc. ("ISS") and Glass, Lewis & Co., LLC ("Glass Lewis"), two leading independent proxy advisory firms, have both recommended that Battle North shareholders vote FOR the special resolution approving the acquisition of Battle North by Evolution Mining Limited ("Evolution") as further described below at the upcoming Annual General and Special Meeting of Shareholders to be held on May 11, 2021 at 4:30 p.m. (Eastern Time) via live audio webcast at https://web.lumiagm.com/207274698 (the "Meeting").

 

The Transaction

 

As previously announced by the Company on March 14, 2021, Battle North and Evolution entered into a definitive arrangement agreement pursuant to which Evolution has agreed to acquire all of the issued and outstanding shares of Battle North (the "Transaction") at a price of C$2.65 per common share in cash (the "Consideration"), for total consideration for all issued and outstanding common shares pursuant to the Transaction of approximately C$343 million.

 

The Transaction will be implemented by way of a statutory plan of arrangement involving the Company, Evolution and Evolution Mining (Canada Holdings) Limited, pursuant to Division 5 of Part 9 of the Business Corporations Act(British Columbia) (the "Arrangement"). The Arrangement is subject to approval of the Supreme Court of British Columbia (the "Court") as well as Battle North shareholders at the Meeting by special resolution as described further below. 

 

The Arrangement is anticipated to be completed by the end of May 2021, subject to obtaining the approval of Battle North shareholders and the Court, as well as the satisfaction or waiver of other customary closing conditions.

 

The votes of all Battle North Shareholders are important regardless of the number of shares held. The Company encourages Battle North shareholders to read the Company's management information circular for the Meeting and applicable related Meeting materials (collectively, "Meeting Materials") in detail. Copies of the Meeting Materials are available at www.battlenorthgold.com/EvolutionAcquisition  and under the Company's profile on SEDAR at www.sedar.com.

 

For details on how to vote, Battle North shareholders should refer to the Meeting Materials.

 

Your vote is important. To ensure your vote is represented at the Meeting, Battle North shareholders are encouraged to vote their shares prior to 4:30 p.m. (Eastern Time) on May 7, 2021, in accordance with the instructions mailed to you.  

 

Enquiries Regarding the Arrangement and Meeting

 

Battle North shareholders with questions regarding the Arrangement and the Meeting should contact the Company's proxy solicitation advisor, Shorecrest Group Ltd.:

 

By Telephone: +1-888-637-5789 for toll-free North America

By Telephone: +1-647-931-7454 for International collect calls

By Email: contact@shorecrestgroup.com

 

About Battle North

 

Battle North is developing the Bateman Gold Project to become the next gold producer in the renowned Red Lake Gold District in Ontario, Canada and controls the second largest exploration ground in the district. Battle North also owns a large gold exploration land package on the Long Canyon gold trend near the Nevada-Utah border in the United States. Battle North's shares are listed on the Toronto Stock Exchange (BNAU) and the OTCQX markets (BNAUF). For more information, please visit our website at www.battlenorthgold.com.