Yamana and Pan American shareholders approve proposed acquisition transaction

The Arrangement Resolution was approved by approximately 98.87% of the votes cast by Yamana shareholders at the Meeting, with shareholder turnout of 61.59%.

In addition to the approval by Yamana shareholders, Pan American shareholders approved the issuance of Pan American common shares in connection with the proposed transaction at a special meeting of Pan American shareholders. No approval is required from Agnico Eagle shareholders for the proposed transaction.

Peter Marrone, Executive Chairman, Yamana Gold commented:

“I would like to thank the Yamana shareholders for their support and express my gratitude to each and every member of the Yamana team, past and present, who have been a part of this incredible journey. I am truly proud of everything we have achieved together, having taken Yamana from a single asset to a senior gold producer in less than two decades. Through this transaction with Pan American and Agnico Eagle, I believe we have delivered a value enhancing opportunity for our shareholders, in a market that is not currently rewarding growth, whilst also establishing the critical mass and scale that this sector desperately needs for future success. Following the positive outcome of the shareholder votes today, we look forward to working closely with the Pan American and Agnico Eagle leadership as we progress this transaction through to completion.”

The proposed transaction is expected to be completed during 1Q23, subject to approval by the Ontario Superior Court of Justice, approval from the Mexican Federal Economic Competition Commission (COFECE) and satisfaction or waiver of certain other closing conditions.

Read the article online at: https://www.globalminingreview.com/mining/02022023/yamana-and-pan-american-shareholders-approve-proposed-acquisition-transaction/