VANCOUVER, BC, Sept. 7,
2022 /CNW/ - Great Bear Royalties Corp. (the
"Company" or "Great Bear Royalties") (TSXV: GBRR) announced today
that the Company has obtained a final order from the Supreme Court
of British Columbia approving the
previously announced acquisition of Great Bear Royalties by
International Royalty Corporation, a wholly-owned subsidiary of
Royal Gold Inc. by way of a plan of arrangement (the
"Transaction"). Under the terms of the Transaction,
Shareholders will receive all-cash consideration of C$6.65 per Great Bear Royalties share outstanding
at the effective time of the Transaction (the "Consideration").
The Arrangement remains subject to the satisfaction or waiver of
customary closing conditions and is expected to close on
September 9, 2022. Following
completion of the Arrangement, the common shares of Great Bear
Royalties are expected to be delisted from the TSX Venture
Exchange. An application is also expected to be made for the
Company to cease to be a reporting issuer in the applicable
jurisdictions upon closing of the Arrangement.
Information regarding the procedure for exchange of shares for
Consideration is provided in the Company's management information
circular dated July 27, 2022 (the
"Circular"). The Circular is available on SEDAR under the
Company's profile at www.sedar.com and on the Company's website at
https://www.greatbearroyalties.com/special-meeting.
About Great Bear Royalties
Corp.
Great Bear Royalties Corp. is a precious metals royalty and
streaming company. The Company's principal asset is a 2% Net
Smelter Royalty on Kinross Gold Corporation's Great Bear Project
located in Northwestern Ontario.
The Great Bear Project is Canada's
newest major gold discovery, with one of the largest exploration
programs in the country currently underway ($75 million / +200,000m of drilling) with an objective to
further establish its status as a potential Tier 1 gold
project.
Neither the TSXV nor its Regulation Services Provider (as
that term is defined in the policies of the TSXV) accepts
responsibility for the adequacy or accuracy of this
release.
Forward Looking
Statements
This news release contains "forward-looking information" or
"forward-looking statements" within the meaning of applicable
securities legislation. Forward-looking information is provided as
of the date of this news release and the Company does not intend to
and does not assume any obligation to update forward-looking
information, except as required by applicable law. For this reason
and the reasons set forth below, investors should not place undue
reliance on forward looking statements.
Generally, forward-looking information can be identified by the
use of forward-looking terminology such as "plans", "expects" or
"does not expect", "is expected", "budget", "scheduled",
"estimates", "forecasts", "intends", "anticipates" or "does not
anticipate", or "believes" or variations of such words and phrases
or statements that certain actions, events or results "may",
"could", "would", "might" or "will be taken", "occur" or "be
achieved". Forward-looking statements and information include, but
are not limited to statements with respect to the consummation and
timing of the Transaction; the satisfaction of the conditions
precedent to the Transaction; and timing, receipt and anticipated
effects of court, regulatory and other consents and approvals. By
their very nature, forward-looking statements involve known and
unknown risks, uncertainties and other factors that may cause our
actual results, performance or achievements to be materially
different from any future results, performance or achievements
expressed or implied by the forward-looking statements. Such
factors include, amongst others, risks related to failure to
receive approval by the required regulatory and other consents and
approvals to effect the Transaction, the possibility that the
Transaction could be terminated under certain circumstances.
Forward-looking statements are based on a number of material
assumptions, which management of the Company believe to be
reasonable, including, but not limited to, the continuation of the
exploration, development and mining operations from which the
Company may purchase precious or other metals or in respect of
which the Company may receive royalty payments, that commodity
prices will not experience a material adverse change, exploration,
development and mining operations that underlie any royalties will
operate in accordance with disclosed parameters and such other
assumptions as may be set out herein.
Although the Company has attempted to identify important factors
that could cause actual results to differ materially from those
contained in forward-looking information, there may be other
factors that cause results to not be as anticipated, estimated or
intended. There can be no assurance that such information will
prove to be accurate, as actual results and future events could
differ materially from those anticipated in such information.
Accordingly, readers should not place undue reliance on
forward-looking information. Readers of this news release should
carefully review the risk factors set out in the Company's
management discussion and analysis dated August 29, 2022.
SOURCE Great Bear Royalties Corp.