Big River shareholders vote in favour of acquisition by Aura
ROAD TOWN, British Virgin Islands, Sept. 02, 2022 (GLOBE NEWSWIRE) -- Aura Minerals Inc. (TSX:ORA, B3:AURA33) (“Aura” or the “Company”) is pleased to inform that Big River Gold Limited (ASX:BRV) (“Big River”) announced today in a Press Release that the requisite majorities of each class of shareholders voted in favour of the proposed scheme of arrangement (“Scheme”), pursuant to which Borborema LLC, an indirect wholly-owned subsidiary of Aura (“BidCo”) will acquire all of the shares in Big River (other than the shares held by Dundee Resources). As previously disclosed, Aura will hold its interest in BidCo through an intermediate holding company (“JVCo”) with Dundee Resources which agreed, subject to certain limited conditions, to receive shares in JVCo, in lieu of the cash consideration, in order to indirectly maintain an equity interest in Big River and form a joint venture with Aura.
Further details of the transaction shall be informed in a specific Press Release after the confirmation of approval of the Scheme by the Supreme Court of Western Australia (“Court”) at a second court hearing scheduled for September 8, 2022 (“Second Court Hearing”).
Next steps
Big River will now seek approval of the Scheme from the Court at the Second Court Hearing.
If the Court approves the Scheme at the Second Court Hearing, it is expected that the Scheme will take effect on September 9, 2022.
Scheme implementation is expected to occur on September 20, 2022, subject to the satisfaction or waiver of the remaining conditions precedent to the Scheme, including approval by the Court at the Second Court Hearing.
About Aura 360° Mining
Aura is focused on mining in complete terms – thinking holistically about how its business impacts and benefits every one of our stakeholders: our company, our shareholders, our employees, and the countries and communities we serve. We call this 360° Mining.
Aura is a mid-tier gold and copper production company focused on the development and operation of gold and base metal projects in the Americas. The Company’s producing assets include the San Andres gold mine in Honduras, the Ernesto/Pau-a-Pique gold mine in Brazil and the Aranzazu copper-gold-silver mine in Mexico. In addition, the Company has two additional gold projects in Brazil, Almas and Matupá, and one gold project in Colombia, Tolda Fria.
For further information, please visit Aura’s website at www.auraminerals.com or contact:
Rodrigo Barbosa
President & CEO
305-239-9332
Forward-Looking Statements in Respect of Aura
This press release contains “forward-looking information” within the meaning of applicable securities laws. Forward-looking information includes statements that use forward-looking terminology such as “may”, “could”, “would”, “will”, “should”, “intend”, “target”, “plan”, “expect”, “budget”, “estimate”, “forecast”, “schedule”, “anticipate”, “believe”, “continue”, “potential”, “view” or the negative or grammatical variation thereof or other variations thereof or comparable terminology. Such forward-looking information includes, without limitation, statements with respect to closing of the Transaction.
Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by the Company, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Specific reference is made to the most recent Annual Information Form on file with certain Canadian provincial securities regulatory authorities for a discussion of some of the factors underlying forward-looking statements, which include, without limitation the ability of the Company to achieve its longer-term outlook and the anticipated timing and results thereof, the ability to lower costs and increase production, the ability of the Company to successfully achieve business objectives, copper and gold or certain other commodity price volatility, changes in debt and equity markets, the uncertainties involved in interpreting geological data, increases in costs, environmental compliance and changes in environmental legislation and regulation, interest rate and exchange rate fluctuations, the accuracy of any mineral reserve and mineral resource estimates, general economic conditions and other risks involved in the mineral exploration and development industry. If any of these risks or uncertainties materialize, or if the opinions, estimates or assumptions underlying forward-looking information prove incorrect, actual results or future events might vary materially from those anticipated in forward-looking information. Although the Company has attempted to identify important risk factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other risk factors not presently known to the Company or that the Company presently believes is not material that could also cause actual results or future events to differ materially from those expressed in such forward-looking information. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information, which speaks only as of the date made. Forward-looking information contained in this press release represents the Company's expectations as of the date of this press release (or as of the date they are otherwise stated to be made) and are subject to change after such date. The Company disclaims any intention or obligation or undertaking to update or revise any forward-looking information whether as a result of new information, future events or otherwise, except as required under applicable securities laws.
