Mr. Michael Allen reports
NORTHERN EMPIRE RESOURCES CORP. SECURITYHOLDERS OVERWHELMINGLY APPROVE OF ARRANGEMENT WITH COEUR MINING, INC.
Northern Empire Resources Corp. has released the voting results for its special meeting of the securityholders of Northern Empire Resources held on Sept. 19, 2018, in Vancouver, B.C.
The sole matter considered at the Special Meeting was the special resolution (the "Arrangement Resolution") approving the statutory plan of arrangement (the "Arrangement") with Coeur Mining Inc. ("Coeur") whereby Coeur, through a corporation directly or indirectly wholly-owned by Coeur (the "Purchaser"), will acquire all of the issued and outstanding common shares of Northern Empire ("Northern Empire Shares") and, in exchange, shareholders of Northern Empire (the "Northern Empire Shareholders") will receive 0.1850 of a common share of Coeur ("Coeur Shares") for each Northern Empire Share held. In addition, each option and common share purchase warrant of Northern Empire outstanding immediately prior to the effective time of the Arrangement will automatically vest and will be transferred to the Purchaser in exchange for that number of Coeur Shares as is equal to the value of the "in-the-money" amount of the options and warrants, as applicable, minus any withholding taxes required to be withheld.
Securityholders, representing a total of 73.62% of the securities of Northern Empire eligible to be voted at the Special Meeting, voted on the Arrangement Resolution, which was approved as follows:
99.98% of the total votes cast by Northern Empire Securityholders, voting as a single class, at the Special Meeting voted FOR the Arrangement resolution; and99.97% of the votes cast by Northern Empire Shareholders, after excluding the votes of Northern Empire Shares held or controlled by Coeur and its subsidiaries, Douglas J. Hurst and Michael G. Allen each of whom is an "interested party" under Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions.
Closing of the Arrangement remains subject to court approval as well as other customary closing conditions. Assuming the timely completion of these conditions, Northern Empire expects the Arrangement to close on or about October 1, 2018.
If holders of warrants to purchase Northern Empire Shares ("Warrants") wish to exercise their Warrants prior to closing of the Arrangement, the notice of exercise of such Warrants must be submitted to the Company no later than 4:30 p.m. (Vancouver time) on September 26, 2018.
About Northern Empire
Northern Empire Resources Corp. (TSXV: NM) (OTC Pink: PSPGF) is expanding and discovering heap leach gold deposits in Nevada. Northern Empire presently has initial resource statements on four potentially heap-leachable deposits, three of which are past producing, at the 100%-owned Sterling Gold Project.
About Coeur
Coeur Mining, Inc. is a well-diversified, growing precious metals producer with five mines in North America. Coeur produces from its wholly-owned operations: the Palmarejo silver-gold complex in Mexico, the Silvertip silver-zinc-lead mine in British Columbia, the Rochester silver-gold mine in Nevada, the Wharf gold mine in South Dakota and the Kensington gold mine in Alaska. In addition, Coeur has interests in several precious metals exploration projects throughout North America.
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