Monarch Mining Announces Completion of the Arrangement With Yamana Gold

Ad blocking detected

Thank you for visiting CanadianInsider.com. We have detected you cannot see ads being served on our site due to blocking. Unfortunately, due to the high cost of data, we cannot serve the requested page without the accompanied ads.

If you have installed ad-blocking software, please disable it (sometimes a complete uninstall is necessary). Private browsing Firefox users should be able to disable tracking protection while visiting our website. Visit Mozilla support for more information. If you do not believe you have any ad-blocking software on your browser, you may want to try another browser, computer or internet service provider. Alternatively, you may consider the following if you want an ad-free experience.

Canadian Insider Club
$299/ year*
Daily Morning INK newsletter
+3 months archive
Canadian Market INK weekly newsletter
+3 months archive
30 publication downloads per month from the PDF store
Top 20 Gold, Top 30 Energy, Top 40 Stock downloads from the PDF store
All benefits of basic registration
No 3rd party display ads
JOIN THE CLUB

* Price is subject to applicable taxes.

Paid subscriptions and memberships are auto-renewing unless cancelled (easily done via the Account Settings Membership Status page after logging in). Once cancelled, a subscription or membership will terminate at the end of the current term.

New Monarch Mining website now online at www.monarchmining.com

MONTRÉAL, QC / ACCESSWIRE / January 21, 2021 / MONARCH MINING CORPORATION (TSX:MQR)(OTCQX:MRQRF)("Monarch" or the "Corporation") announces today the successful completion of the previously announced arrangement under the Canada Business Corporations Act (the "Arrangement") pursuant to which Monarch Gold Corporation ("Monarques") transferred the Beaufor, Croinor Gold, McKenzie Break and Swanson mineral properties and other assets and liabilities to a newly formed Monarch Mining Corporation entity and Yamana Gold Inc. ("Yamana") acquired the Wasamac property and the Camflo property and mill by acquiring all of the issued and outstanding shares of Monarques (not already owned by Yamana) on a fully diluted basis, as disclosed in the press release dated November 2, 2020.

Yamana has delivered to Computershare Trust Company of Canada ("Computershare"), the depositary for the Arrangement, sufficient funds and Yamana common shares to enable it to make payments to the former shareholders and eligible optionholders of Monarques who have exercised their options for Monarques shares (collectively, the "Shareholders") whose Monarques shares are deposited with Computershare in accordance with the terms of the Arrangement. Letters of transmittal have been mailed to registered Shareholders and are also available under the profile of Monarch at www.sedar.com. The letter of transmittal explains how registered Shareholders can deposit and obtain payment for their Monarques shares. Registered Shareholders must return their duly completed letters of transmittal to Computershare in order to receive the consideration to which they are entitled for their Monarques shares.

Non-registered Shareholders should carefully follow the instructions from the broker, investment dealer, bank, trust company, custodian, nominee or other intermediary that holds securities on their behalf. Shareholders are referred to the management information circular of Monarques dated November 30, 2020 available under Monarques' profile at www.sedar.com for further information.

Monarch announces that the Toronto Stock Exchange (the "TSX") has conditionally approved the listing of its issued and outstanding common shares. The listing is subject to the TSX reviewing all information requested in its conditional approval letter and the issuance of a final bulletin. However, Monarch is confident that the common shares will commence trading at the opening of business on or about January 26, 2021 under the symbol GBAR.

About Monarch
Monarch Mining Corporation is a gold mining, development, and exploration company, focused in the prolific Abitibi mining camp in Canada. The company owns four advanced gold properties including the fully permitted past producing Beaufor Mine, which produced over 1 million ounces of gold over the last 30 years. Other advanced assets include the Croinor Gold, McKenzie Break and Swanson properties, all located in the vicinity of its wholly owned and fully permitted 750 tpd Beacon Mill.

Forward-Looking Statements
The forward-looking statements in this press release involve known and unknown risks, uncertainties and other factors that may cause Monarch's actual results, performance and achievements to be materially different from the results, performance or achievements expressed or implied therein. Neither TSX nor its Regulation Services Provider (as that term is defined in the policies of the TSX) accepts responsibility for the adequacy or accuracy of this press release.

FOR MORE INFORMATION:
Jean-Marc Lacoste
President and Chief Executive Officer
1-888-994-4465
[email protected]

Mathieu Séguin
Vice President, Corporate Development
1-888-994-4465
[email protected]

Elisabeth Tremblay
Senior Geologist - Communications Specialist
1-888-994-4465
[email protected]

SOURCE: Monarch Gold Corp.



View source version on accesswire.com:
https://www.accesswire.com/625387/Monarch-Mining-Announces-Completion-of-the-Arrangement-With-Yamana-Gold

Comment On!

140
Upload limit is up to 1mb only
To post messages to your Socail Media account, you must first give authorization from the websites. Select the platform you wish to connect your account to CanadianInsider.com (via Easy Blurb).