TORONTO, May 20, 2016 (GLOBE NEWSWIRE) -- McEwen Mining – Minera Andes Acquisition Corp. (TSX:MAQ) (OTC:MCEEF) announces that owners of the Corporation’s shares (“Exchangeable Shares”) will be asked to approve a special resolution to amend the Articles of Incorporation at the Annual and Special Meeting. If approved, the special resolution would result in all outstanding Exchangeable Shares becoming common shares of McEwen Mining Inc.
The reasons owners of Exchangeable Shares should consider approving the proposed special resolution are:
- Reduce our corporate expenses and listing fees associated with the current share structure;
- Superior trading liquidity of common shares that are traded on the NYSE and TSX; and
- Owners of Exchangeable Shares receive eligible dividends, while owners of common shares receive return of capital. Return of capital is generally not taxed1 in the US & Canada.
McEwen Mining – Minera Andes Acquisition Corp. has retained the services of D.F. King to assist in the solicitation of proxies in connection with the Annual and Special Meeting.
The Annual and Special Meeting will be held on May 31, 2016 from 4:00 PM Eastern Time, at 150 King Street West, 16th Floor, Toronto, Ontario, in the Conservatory Room.
The full information on the resolutions for the annual meeting was supplied in the Information Circular that was mailed to shareholders on April 20, 2016 and is available on SEDAR (www.sedar.com) and at www.envisionreports.com/MAQ2016. It is important that shareholders understand the implications of this transaction as described in the Information Circular and that they consult their own legal, financial and tax advisors to determine the tax consequences of an exchange in their individual circumstances.
The proxy deposit date for the annual meeting is May 27, 2016. If you are holding Exchangeable Shares as of the record date, the management would like to encourage you to consider voting for this year’s resolutions. If you have any questions or if you need assistance in casting your vote, please contact our Investor Relations department at 647-258-0395, toll free 866-441-0690 or email at [email protected].
As of the record date of April 11, 2016, over 114 million Exchangeable Shares have been converted to common shares of McEwen Mining, representing 84.4% of the issued McEwen Mining – Minera Andes Acquisition Corp. shares. Management would like to thank all their shareholders who participated to the effort of converting their shares.
1 We advise you to obtain advice from a tax professional familiar with your specific situation.
The TSX has not reviewed and do not accept responsibility for the adequacy or accuracy of the contents of this news release, which has been prepared by management of McEwen Mining – Minera Andes Acquisition Corp.
CONTACT: Mihaela Iancu Investor Relations Tell: 647-258-0395 ext 320 Toll Free: 1-866-441-0690 [email protected] www.mcewenmining.com 150 King Street West Suite 2800, P.O. Box 24 Toronto, Ontario, Canada M5H 1J9
Please make the indicated changes including the new text: US quotes snapshot data provided by IEX. Additional price data and company information powered by Twelve Data.