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Evrim Resources and Renaissance Gold Combine to Form New Royalty/Prospect Generator Company10.06.2020 | 7:00 Uhr | Accesswire
Organically created royalty assets to provide a long-term sustainable business model
Financial Strength
Increased Diversification
Evrim's President & CEO Paddy Nicol stated, "The combination of Evrim and Renaissance to form Orogen Royalties Inc. is an important and exciting milestone on the path towards creating an enlarged royalty portfolio with exceptional capability to generate additional royalties through organic prospect generation and joint venture partnerships. The future revenue we expect to receive from our royalty portfolio will fund acquisitions and exploration and enable us to maintain tight control over our capital structure. Furthermore, we are delighted to join in Renaissance's exploration efforts in Nevada. The Reno-based technical group is very experienced and highly capable at generating projects in one of the premier gold districts in the world." Renaissance President & CEO Robert Felder stated, "Bringing together two very successful and well-funded prospect generators with meaningful royalties creates a very strong platform from which to advance and grow our business. This transaction represents a compelling opportunity to build a company that can operate long term, successfully execute our model on both technical and business levels, and generate significant shareholder value. We think very highly of the Evrim team and look forward to what we can accomplish together." Orogen Royalties Inc. will be headquartered in Vancouver, B.C. and will be led by Paddy Nicol as President & CEO and Paul van Eeden as Chairman. Bob Felder will take on the role of Senior Vice President to facilitate a smooth transition and contribute to the future success of Orogen. Operational offices will be based out of Reno, in Nevada, USA and Hermosillo in Sonora, Mexico. Following the completion of the Transaction, the new board of directors will be comprised of four directors, two each from Evrim and Renaissance. Transaction Conditions and Timing Under the terms of the Agreement, the Transaction will be carried out by way of a court approved plan of arrangement under the Business Corporations Act (British Columbia) and will require the approval of at least 66-2/3% of the votes cast by the security holders of Renaissance at a special meeting to be held in the third quarter of 2020. The Transaction is also subject to the approval of a simple majority of votes cast by the Evrim shareholders at its annual special meeting to be held coincident with the Renaissance special meeting in the third quarter of 2020. Completion of the Transaction is subject to receipt of the TSX Venture Exchange regulatory and court approvals and other customary closing conditions. The Arrangement Agreement includes customary provisions, including non-solicitation of alternative transactions, a right to match superior proposals and a $1 million reciprocal termination fee payable under certain circumstances. Officers and directors of each of Renaissance and Evrim have entered into voting and support agreements agreeing to vote their securities in favour of the Transaction. Altius Minerals Corporation has also entered into a voting and support agreement to vote its shares in each of Renaissance and Evrim in favour of the Transaction. Full details of the Transaction will be included in the management information circulars of both Renaissance and Evrim to be delivered to their respective shareholders in the coming weeks. Webcast Information A Zoom webcast will be held on Wednesday, June 10, 2020 at 10:00 a.m. Pacific Time (1:00 p.m. Eastern Time) covering the Transaction. Webcast Details Title: Evrim Resources and Renaissance Gold combine to form new Royalty Company URL: https://us02web.zoom.us/j/86054426525?pwd=WWR1WmcydHB0RUpJbU82VC9vUDNydz09 Password: 629876 Or iPhone one-tap : US: +13462487799,,86054426525#,,1#,629876# or +14086380968,,86054426525#,,1#,629876# Or Telephone dial: US: +1 346 248 7799 or +1 408 638 0968 or +1 646 876 9923 or +1 669 900 6833 or +1 253 215 8782 or +1 301 715 8592 or +1 312 626 6799 Canada: +1 438 809 7799 or +1 587 328 1099 or +1 647 374 4685 or +1 647 558 0588 or +1 778 907 2071 Mexico: +52 554 161 4288 or +52 556 826 9800 or +52 229 910 0061 International numbers available: https://us02web.zoom.us/u/kdAaMyXbHF Webinar ID: 860 5442 6525 Password: 629876 About Evrim Resources Evrim Resources is a mineral exploration company whose goal is to participate in significant exploration discoveries supported by a sustainable business model. The Company is well financed, has a diverse range of quality projects and a database covering substantial areas of Mexico and portions of southwestern United States. The Company's projects are advanced through option and joint venture agreements with industry partners to create shareholder value. Evrim's business plan also includes royalty creation utilizing the Company's exploration expertise and existing projects. About Renaissance Gold Renaissance Gold Inc. is a western US focused prospect generator utilizing a joint venture business model. Renaissance applies the extensive exploration experience and high-end technical skills of its founders and team members to search for and acquire high quality precious metal exploration projects that are then offered for joint venture to industry partners who provide exploration funding. Renaissance maintains a large portfolio of gold and silver exploration properties and has entered into over 70 exploration agreements including those as its predecessor, AuEx Ventures Inc. and those from Kinetic Gold. Renaissance's objective is to place its projects into exploration agreements, testing as many drill targets as possible and providing maximum exposure to success through discovery. On Behalf of the Board, EVRIM RESOURCES CORP. Paddy Nicol, President & CEO Renaissance Gold Inc. Robert Felder, President & CEO To find out more about Evrim Resources Corp., please contact Paddy Nicol, President & CEO of Evrim Resources at 604-248-8648, and Bob Felder, President & CEO of Renaissance Gold at 775-843-2407, or Liliana Wong, Manager or Marketing and Investor Relations at 604-248-8648. Visit our websites at www.evrimresources.com and www.rengold.com.
Evrim Resources Corp. 1201 - 510 West Hastings Street Vancouver, BC, Canada V6B 1L8 info@evrimresources.com Renaissance Gold Inc. 4750 Longley Lane, Suite 106 Reno, NV, 89502, USA info@rengold.com Forward Looking Information: This news release includes certain statements that may be deemed "forward looking statements". All statements in this presentation, other than statements of historical facts, that address events or developments that Evrim Resources Corp. and Renaissance Gold Inc. (the "Companies") expect to occur, are forward looking statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. orward looking information relates to statements concerning the Companies' future outlook and anticipated events or results, as well as the Companies' management expectations with respect to the proposed business combination (the "Transaction"). This document also contains forward-looking statements regarding the anticipated completion of the Transaction and timing thereof. Forward-looking statements in this document are based on certain key expectations and assumptions made by the Companies, including expectations and assumptions concerning the receipt, in a timely manner, of regulatory and stock exchange approvals in respect of the Transaction. Although the Companies believe the expectations expressed in such forward looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward looking statements. Factors that could cause the actual results to differ materially from those in forward looking statements include market prices, exploitation and exploration successes, and continued availability of capital and financing, and general economic, market or business conditions. Furthermore, the extent to which COVID-19 may impact the Company's business will depend on future developments such as the geographic spread of the disease, the duration of the outbreak, travel restrictions, physical distancing, business closures or business disruptions, and the effectiveness of actions taken in Canada and other countries to contain and treat the disease. Although it is not possible to reliably estimate the length or severity of these developments and their financial impact as of the date of approval of these condensed interim consolidated financial statements, continuation of the prevailing conditions could have a significant adverse impact on the Company's financial position and results of operations for future periods.
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