Prime Mining Corp. (TSX:PRYM, OTCQX:PRMNF, Frankfurt:O4V3) announced that independent proxy advisory firm, Glass Lewis, has recommended that Prime Mining security-holders vote in the positive for the planned arrangement with Torex Gold Resources Inc.
The Glass Lewis report stated, “Overall, we believe the transaction offers a compelling balance of immediate value and long-term upside, achieved through a fair and well-structured process. Considering the premium offered, the strong strategic rationale, and the opportunity for continued participation in Torex’s future growth, we conclude that the acquisition is in the best interests of Prime Mining’s shareholders. Accordingly, we recommend that shareholders vote FOR the arrangement proposal and related resolutions.”
Scott Hicks, CEO of Prime Mining commented, “We are pleased to receive an independent FOR recommendation from Glass Lewis, affirming that the Plan of Arrangement with Torex is in the best interests of Prime Securityholders given the premium offered, strategic rationale and opportunity for continued participation in Torex’s future growth.”
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