Bison Gold Announces Closing of Arrangement with Klondex Mines
Toronto, Ontario--(Newsfile Corp. - October 19, 2017) - Bison Gold Resources Inc. (TSXV: BGE) ("Bison" or the "Company") is pleased to announce that it has completed its previously announced arrangement (the "Arrangement") under the provisions of the Business Corporations Act (Ontario) with Klondex Mines Ltd. ("Klondex"), pursuant to which Klondex has acquired all of the common shares of Bison.
Under the terms of the Arrangement, each former Bison shareholder received 0.1242 of a common share of Klondex for each Bison common share ("Bison Shares") held prior to the Arrangement.
It is anticipated that the Bison Shares will be delisted from the TSX Venture Exchange as of the close of trading on October 20, 2017 and Bison intends to submit an application to the applicable securities regulators to cease to be a reporting issuer and to terminate its public reporting obligations.
Pursuant to the letter of transmittal mailed to Bison shareholders as part of the materials in connection with the special meeting of Bison shareholders held on October 11, 2017 (the "Meeting"), in order to receive the Klondex Shares to which they are entitled, registered holders of Bison Shares will be required to deposit their share certificate(s) representing Bison Shares, together with the duly completed letter of transmittal, with TSX Trust Company, the depositary under the Arrangement. Shareholders whose Bison Shares are registered in the name of a broker, dealer, bank, trust company or other nominee must contact their nominee to deposit their Bison Shares.
Further information about the Arrangement is set forth in the materials prepared by the Company in respect of the Meeting which were mailed to Bison shareholders and filed under Bison's profile on the System for Electronic Document Analysis and Retrieval (SEDAR) at www.sedar.com as well as on Bison's website at www.bisongold.com.
About Bison Gold Resources Inc.
Bison is a Canadian public company listed on the TSX-V. Bison is focused on gold exploration with property assets in Manitoba, Canada. Further details can be found on Bison's website at www.bisongold.com.
About Klondex Mines Ltd.
Klondex is a well-capitalized, junior-tier gold and silver mining company focused on exploration, development, and production in a safe, environmentally responsible, and cost-effective manner. Klondex has 100% interests in three producing mineral properties: the Fire Creek Mine and the Midas Mine and ore milling facility, both of which are located in the state of Nevada, USA, and the True North Gold Mine and mill in Manitoba, Canada. Klondex also has 100% interests in two recently acquired projects, the Hollister mine and the Aurora mine and ore milling facility, also located in Nevada, USA.
For further information, please contact:
Senior Vice President, Strategic Relations
Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
This news release contains certain "forward-looking information" within the meaning of applicable securities laws that reflects current expectations of management of Bison regarding the Arrangement, including the anticipated de-listing of the Bison Shares from the TSX Venture Exchange and the applications to the securities regulatory authorities to cease to be a reporting issuer. Forward looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate", "may", "will", "would", "potential", "proposed" and other similar words, or statements that certain events or conditions "may" or "will" occur. These statements are only predictions. Forward-looking information is based on the opinions and estimates of management at the date the information is provided, and is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information. For a description of the risks and uncertainties facing the Company and its business and affairs, readers should refer to the Company's Management's Discussion and Analysis. The following factors could cause actual results to differ materially from those disclosed in forward-looking information in this news release. The Company undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change, unless required by law. The reader is cautioned not to place undue reliance on forward-looking information.
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