{"id":13277,"date":"2024-12-17T00:52:55","date_gmt":"2024-12-17T00:52:55","guid":{"rendered":"https:\/\/businesstriumphs.com\/index.php\/2024\/12\/17\/dore-copper-announces-shareholder-approval-of-plan-of-arrangement-with-cygnus-metals\/"},"modified":"2024-12-17T00:52:55","modified_gmt":"2024-12-17T00:52:55","slug":"dore-copper-announces-shareholder-approval-of-plan-of-arrangement-with-cygnus-metals","status":"publish","type":"post","link":"https:\/\/businesstriumphs.com\/index.php\/2024\/12\/17\/dore-copper-announces-shareholder-approval-of-plan-of-arrangement-with-cygnus-metals\/","title":{"rendered":"Dore Copper Announces Shareholder Approval of Plan of Arrangement with Cygnus Metals"},"content":{"rendered":"<\/p>\n
\n

Dor\u00e9 Copper Mining Corp. (\u2018 Dor\u00e9 Copper \u2018) (TSXV: DCMC; OTCQB: DRCMF; FRA: DCM) is pleased to announce that, at the special meeting (the \u2018 Meeting \u2018) of shareholders of Dor\u00e9 Copper (\u2018 Dor\u00e9 Copper Shareholders \u2018) held earlier today, Dor\u00e9 Copper Shareholders overwhelmingly voted in favour of approving the special resolution (the \u2018 Arrangement Resolution \u2018) authorizing the previously announced plan of arrangement (the \u2018 Arrangement \u2018) ( news release October 15, 2024 ) whereby Cygnus Metals Limited (\u2018 Cygnus \u2018), through its wholly-owned subsidiary, 1505901 B.C. Ltd., will acquire all of the issued and outstanding common shares in the capital of\u00a0Dor\u00e9 Copper (the \u2018 Dor\u00e9 Copper Shares \u2018) and, in exchange,\u00a0Dor\u00e9 Copper Shareholders will receive 1.8297 ordinary shares in the capital of Cygnus (the \u2018 Cygnus Shares \u2018) for each\u00a0Dor\u00e9 Copper Share held.<\/p>\n

Dor\u00e9 Copper would like to thank its shareholders for their overwhelming support of the combination of Cygnus and Dor\u00e9 Copper to create a Qu\u00e9bec-focused critical minerals explorer and developer with high-grade copper and lithium resources. <\/p>\n

At the Meeting, the Arrangement Resolution was approved by (i) approximately 100% of the votes cast by\u00a0Dor\u00e9 Copper Shareholders present in person or represented by proxy and entitled to vote, and (ii) approximately 100% of the votes cast by\u00a0the minority Dor\u00e9 Copper Shareholders present in person or represented by proxy and entitled to vote, which excluded the votes cast in respect of the Dor\u00e9 Copper Shares beneficially owned, or over which control or direction is exercised, by Mario Stifano, Ernest Mast and Ocean Partners Holdings Limited, as determined in accordance with Multilateral Instrument 61-101 \u2013 Protection of Minority Shareholders in Special Transactions <\/em> . A total of 121,067,401 Dor\u00e9 Copper Shares were voted at the Meeting, representing approximately 71.50% of the issued and outstanding\u00a0Dor\u00e9 Copper Shares as of the record date of November 13, 2024. <\/p>\n

Assuming that all remaining approvals are obtained and all other remaining conditions precedent to the completion of the Arrangement are satisfied or waived, Dor\u00e9 Copper anticipates that the Arrangement will be completed on or about December 31, 2024. Completion of the Arrangement remains subject to, among other things, satisfaction of all conditions precedent to the completion of the Arrangement, including the final approval of the Ontario Superior Court of Justice and the approval for listing of the Cygnus Shares on the TSX Venture Exchange (the \u2018 TSXV<\/strong> \u2018). The hearing for the final order of the Ontario Superior Court of Justice to approve the Arrangement is scheduled to take place on December 19, 2024. <\/p>\n

Further details regarding the Arrangement are set out in the management information circular of Dor\u00e9 Copper dated November 13, 2024, which is available on SEDAR+ ( www.sedarplus.ca ) under Dor\u00e9 Copper\u2019s issuer profile. <\/p>\n

About Dor\u00e9 Copper Mining Corp. <\/strong><\/p>\n

Dor\u00e9 Copper Mining Corp. aims to be the next copper producer in Qu\u00e9bec with an initial production target of +50 million pounds of copper equivalent annually by implementing a hub-and-spoke operation model with multiple high-grade copper-gold assets feeding its centralized Copper Rand mill 1 . Dor\u00e9 Copper has delivered its PEA in May 2022 and is proceeding with a feasibility study. Dor\u00e9 Copper has consolidated a large land package in the prolific Lac Dor\u00e9\/Chibougamau and Joe Mann mining camps that has historically produced 1.6 billion pounds of copper and 4.4 million ounces of gold. 2 The land package includes 13 former producing mines, deposits and resource target areas within a 60-kilometer radius of Dor\u00e9 Copper\u2019s Copper Rand Mill. <\/p>\n

For further information about Dor\u00e9 Copper, please contact: <\/p>\n

\n

Ernest Mast
\n Laurie Gaborit <\/p>\n

President and Chief Executive Officer
\n Vice President, Investor Relations <\/p>\n

Phone: (416) 792-2229
\n Phone: (416) 219-2049 <\/p>\n

Email: ernest.mast@dorecopper.com
\n Email: laurie.gaborit@dorecopper.com <\/p>\n<\/div>\n

Visit: www.dorecopper.com
Facebook: Dor\u00e9 Copper Mining
LinkedIn: Dor\u00e9 Copper Mining Corp.
Twitter: @DoreCopper
Instagram: @DoreCopperMining <\/p>\n

Cautionary Note Regarding Forward-Looking Statements <\/strong>
This news release includes certain \u2018forward-looking statements\u2019 under applicable Canadian securities legislation. Forward-looking statements include predictions, projections and forecasts and are often, but not always, identified by the use of words such as \u2018seek\u2019, \u2018anticipate\u2019, \u2018believe\u2019, \u2018plan\u2019, \u2018estimate\u2019, \u2018forecast\u2019, \u2018expect\u2019, \u2018potential\u2019, \u2018project\u2019, \u2018target\u2019, \u2018schedule\u2019, \u2018budget\u2019 and \u2018intend\u2019 and statements that an event or result \u2018may\u2019, \u2018will\u2019, \u2018should\u2019, \u2018could\u2019 or \u2018might\u2019 occur or be achieved and other similar expressions and includes the negatives thereof. All statements other than statements of historical fact included in this news release, including, without limitation, statements with respect to the proposed Arrangement and the terms thereof, the completion of the Arrangement, including, receipt of all necessary court and regulatory approvals and timing thereof, the listing of the Cygnus Shares on the TSXV, and the plans, operations and prospects of Dor\u00e9 Copper and its properties are forward-looking statements. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties and other factors which may cause actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to, the ability to obtain approvals in respect of the Arrangement and to consummate the Arrangement, the ability to obtain approvals for the listing of the Cygnus Shares on the TSXV, integration risks, actual results of current and future exploration activities, benefit of certain technology usage, the ability of prior successes and track record to determine future results, changes in project parameters and\/or economic assessments, availability of capital and financing on acceptable terms, general economic, market or business conditions, future prices of metals, uninsured risks, risks relating to estimated costs, regulatory changes, delays or inability to receive required regulatory approvals, health emergencies, pandemics and other exploration or other risks detailed herein and from time to time in the filings made by Dor\u00e9 Copper with securities regulators. Although Dor\u00e9 Copper has attempted to identify important factors that could cause actual actions, events or results to differ from those described in forward-looking statements, there may be other factors that cause such actions, events or results to differ materially from those anticipated. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. Dor\u00e9 Copper disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. <\/em><\/p>\n

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. <\/em><\/strong><\/p>\n

1 Technical report titled \u2018Preliminary Economic Assessment for the Chibougamau Hub-and-Spoke Complex, Qu\u00e9bec, Canada\u2019 dated June 15, 2022, in accordance with National Instrument 43-101\u00a0\u2013 Standards of Disclosure for Mineral Projects <\/em> (\u2018 NI 43-101 <\/strong> \u2018). The Technical Report was prepared by BBA Inc. with several consulting firms contributing to sections of the study, including SLR Consulting (Canada) Ltd., SRK Consulting (Canada) Inc. and WSP Inc.
2 Sources for historic production figures: Economic Geology, v. 107, pp. 963\u2013989 \u2013 Structural and Stratigraphic Controls on Magmatic, Volcanogenic, and Shear Zone-Hosted Mineralization in the Chapais-Chibougamau Mining Camp, Northeastern Abitibi, Canada by Fran\u00e7ois Leclerc et al. (Lac Dore\/Chibougamau mining camp) and NI 43-101 Technical Report on the Joe Mann Property dated January 11, 2016 by Geologica Groupe-Conseil Inc. for Jessie Ressources Inc. (Joe Mann mine). <\/p>\n<\/p>\n<\/p>\n<\/div>\n

News Provided by GlobeNewswire via QuoteMedia<\/p>\n<\/p>\n

This post appeared first on investingnews.com<\/div>\n","protected":false},"excerpt":{"rendered":"

Dor\u00e9 Copper Mining Corp. (\u2018 Dor\u00e9 Copper \u2018) (TSXV: DCMC; OTCQB: DRCMF; FRA: DCM) is pleased to announce that, at the special meeting (the \u2018 Meeting \u2018) of shareholders of Dor\u00e9 Copper (\u2018 Dor\u00e9 Copper Shareholders \u2018) held earlier today, Dor\u00e9 Copper Shareholders overwhelmingly voted in favour of approving the special resolution (the \u2018 Arrangement […]<\/p>\n","protected":false},"author":0,"featured_media":13278,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"class_list":["post-13277","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investing"],"_links":{"self":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/posts\/13277","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/comments?post=13277"}],"version-history":[{"count":0,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/posts\/13277\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/media\/13278"}],"wp:attachment":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/media?parent=13277"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/categories?post=13277"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/tags?post=13277"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}