GoWest officially gone private - now owned by China

Gowest Gold Ltd. has announced that its shareholders and holders of common share purchase warrants of the company have approved the previously announced plan of arrangement of the company under the Business Corporations Act (Ontario) (the "Arrangement"), pursuant to which a group of existing shareholders of Gowest (the "Acquiring Group") propose to acquire all of the outstanding common shares of Gowest ("Shares") not already owned by the Acquiring Group, for cash consideration of $0.15 per Share. For additional details concerning the Arrangement, see the Gowest news release dated June 24, 2024.

Approval of the Arrangement was obtained at a special meeting of Shareholders and Warrantholders held yesterday, September 5. The special resolution approving the Arrangement (the "Arrangement Resolution") was required to be passed by: (i) at least 66 2/3% of the votes cast in person or by proxy at the meeting by Shareholders and Warrantholders, voting together as a single class, each being entitled to one vote per Share held and one vote per Share underlying the Warrants held; (ii) at least 66 2/3% of the votes cast in person or by proxy at the meeting by Shareholders, voting as a separate class, each being entitled to one vote per Share held; and (iii) a simple majority (more than 50%) of the votes cast at the meeting by Shareholders, excluding Shares held by members of the Acquiring Group (and their related parties and joint actors of the Acquiring Group and their related parties) and Shares otherwise required to be excluded pursuant to Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions.

A total of 596,030,277 Shares were represented in person or by proxy at the meeting, representing approximately 88.83% of the issued and outstanding Shares, and a total of 78,931,105 Warrants were represented in person or by proxy at the meeting, representing approximately 89.03% of the issued and outstanding Warrants.

 

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