Golden Predator Mining Corp. (“GPY”) has entered into a definitive arrangement agreement whereby Golden Predator Mining Corp. (“GPY”) will acquire all the outstanding securities of Viva by way of a plan of arrangement (“Arrangement”). Pursuant to the Arrangement, Viva shareholders will receive 1.60 Class A Common Shares of GPY for each common share of Viva held. In connection with the Arrangement, Golden Predator is proposing to distribute 8,620,000 common shares of C2C Gold Corp. to shareholders of record of Golden Predator immediately prior to closing of the Arrangement by way of return of capital transaction (the “Return of Capital”).
The combination of GPY and Viva creates a company of increased size and geographic diversity that, with a team of experienced mine builders, will enable the combined company to focus on development of the advanced stage Tonopah Gold Project in Nevada and the formerly producing Brewery Creek Property in the Yukon.
Benefits of the Arrangement
- Attractive Premium: A 35% to Shareholders over the 20-day VWAP, and 35% to the 30-day VWAP of the Viva Shares as at March 1, 2021.
- Future Growth: The Arrangement provides Shareholders the opportunity to continue to participate in the future growth of Viva’s Tonopah Gold Project, as well as in a larger entity with stronger growth potential from a more diversified asset base supported by the financial resources available to GPY to develop such asset base.
- Fairness Opinion: The Viva Board received the Evans & Evans Fairness Opinion to the effect that, as of March 1, 2021, the consideration to be received by Shareholders pursuant to the Arrangement is fair, from a financial point of view, to Shareholders.
- Increased Liquidity: The Arrangement is anticipated to provide Shareholders with increased liquidity with respect to the electing to receive GPY’s Shares, due to GPY’s larger market capitalization and access to capital.
- Significantly Strengthened Management and Leadership Team: A team with balanced and complimentary skillsets with proven mine building capacity and in-house technical expertise to advance projects.
- Cost Synergies and Enhanced Balance Sheet: A reduced overhead combined with a good cash position and marketable securities.
Golden Predator and Viva Backstage Interview
With Greg McCoach - Mining Speculator
Golden Predator Executive Chairman, Bill Sheriff and Viva Gold CEO, Jim Hesketh Discuss the Proposed Arrangement Agreement