Mega Precious Metals Inc.
TSX VENTURE : MGP

Mega Precious Metals Inc.

June 05, 2015 07:00 ET

Mega Precious Metals Announces Re-Scheduling of Hearing Date for Final Order

THUNDER BAY, ONTARIO--(Marketwired - June 5, 2015) - Mega Precious Metals Inc. (TSX VENTURE:MGP) ("Mega" or the "Company") - Mega announces that the hearing date for the final order (the "Final Order") of the Ontario Superior Court of Justice (Commercial List) relating to the previously announced plan of arrangement (the "Arrangement"), pursuant to which Yamana Gold Inc. will acquire all of the outstanding shares of Mega for consideration of 0.02092 of a Yamana share and C$0.001 in cash per Mega share, has been re-scheduled to June 19, 2015 at 10:00 am (Toronto time).

Subject to obtaining the required approvals from Mega shareholders at the special meeting of Mega shareholders on June 17, 2015, obtaining the Final Order and the satisfaction of all other closing conditions, the Arrangement is expected to be completed on or about June 22, 2015.

Mega Precious Metals Inc. is a leading Canadian-based exploration company with a high quality pipeline of projects located in the mining friendly jurisdictions of Manitoba, Northwestern Ontario and Nunavut. The Company's significant portfolio includes the flagship Monument Bay Gold Tungsten Project in NE Manitoba as well as the N. Madsen Gold Project in the prolific gold mining district of Red Lake, Ontario. Mega has established a record of delivering rapid growth through their focused and low cost approach to exploration and resource development. The Company's common shares trade on the TSX Venture Exchange under the symbol MGP.

For further information and presentation material, please review the Mega website at www.megapmi.com.

Forward-looking Statements

Certain statements in this press release relating to the hearing date for the Final Order, satisfaction of closing conditions and the closing of the transaction are "forward-looking statements" within the meaning of securities legislation. The Company does not intend, and does not assume any obligation, to update these forward-looking statements. These forward-looking statements represent management's best judgment based on current facts and assumptions that management considers reasonable, including, but not limited to, expectations and assumptions that the transaction will close on the terms and time expected, and all regulatory approvals and other conditions will be received or satisfied for closing the transaction. The Company makes no representation that reasonable business people in possession of the same information would reach the same conclusions. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Readers should not place undue reliance on forward-looking statements. More information about risks and uncertainties affecting the Company and its business is available in Mega Precious Metal's filings which are posted on SEDAR at www.sedar.com.

Neither 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.

Contact Information

  • Mega Precious Metals Inc.
    Glen Kuntz, P.Geo.
    President, Chief Executive Officer & Director
    O: 807-766-3380
    TF: 877-592-3380
    info@megapmi.com