VANCOUVER, Dec. 17, 2018 /CNW/ - Mason Resources Corp. (TSX: MNR; OTCQB: MSSNF – "Mason" or the "Company") announces the voting results from today's special meeting (the "Meeting") of the holders (the "Shareholders") of common shares of the Company (the "Common Shares"). At the Meeting, the Shareholders were asked to consider and, if deemed advisable, pass a special resolution (the "Arrangement Resolution") approving a plan of arrangement with Hudbay Minerals Inc. ("Hudbay") under Part 9, Division 5 of the Business Corporations Act (British Columbia) (the "Arrangement") whereby Hudbay will acquire all of the issued and outstanding Common Shares it does not already own for C$0.40 per Common Share.
To be effective, the Arrangement Resolution required the approval of at least: (i) two-thirds (66⅔%) of the votes cast by Shareholders present in person or represented by proxy at the Meeting; and (ii) a simple majority of the votes cast by Shareholders excluding the votes cast by Hudbay, its affiliates and any other Shareholders who were required to be excluded pursuant to Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions ("MI 61-101"), present in person or represented by proxy at the Meeting.
At the Meeting, the Shareholders approved the Arrangement Resolution with approximately 97.43% of the votes cast at the Meeting being for the Arrangement Resolution (96.58% after excluding votes cast by Hudbay, its affiliates and any other Shareholders who were required to be excluded pursuant to MI 61-101).
Mason will seek a final order from the Supreme Court of British Columbia with respect to the Arrangement on December 18, 2018 and expects closing of the Arrangement to occur on December 19, 2018.
About Mason Resources Corp.
Mason's key asset is its 100% owned Ann Mason project – an extensive, prospective land package located in the Yerington District of Nevada. The Ann Mason project hosts two copper-molybdenum porphyry deposits, Ann Mason and Blue Hill, as well as numerous earlier-stage or untested priority targets. The Ann Mason deposit is currently at a PEA level and is among the largest undeveloped copper porphyry resources in Canada/U.S.A. The excellent infrastructure, year-round access, strong community support and clear permitting process are all factors that contribute to making Yerington, Nevada one of the best mining jurisdictions in the world. Mason also holds a 100% interest in the Lordsburg property, an exciting earlier-stage copper-gold porphyry project, located within an historic mining district in New Mexico.
This news release contains forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995 and forward-looking information within the meaning of applicable Canadian securities laws. Forward
-looking statements include, but are not limited to, statements regarding the anticipated Arrangement and the timing of its completion. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause Mason's 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, among others, the risk that the Arrangement does not close on a timely basis or at all or that some or all of the anticipated benefits thereof are not achieved; unanticipated costs, expenses or liabilities; discrepancies between actual and anticipated production, mineral resources and metallurgical recoveries; the size, grade and continuity of deposits not being interpreted correctly from exploration results; the results of preliminary test work not being indicative of the results of future test work; risks related to international operations, including legal and political risk; risks associated with changes in the attitudes of governments to foreign investment; changes in project parameters as plans continue to be refined; inability to upgrade Inferred mineral resources to Indicated or Measured mineral resources; inability to convert mineral resources to mineral reserves; conclusions of economic evaluations; fluctuations in commodity prices and demand; changing foreign exchange rates; actions by government authorities; the availability of funding on reasonable terms; the impact of changes in interpretation to or changes in enforcement of, laws, regulations and government practices, including laws, regulations and government practices with respect to mining, foreign investment, royalties and taxation; the terms and timing of obtaining necessary environmental and other government approvals, consents and permits; title disputes; limitations on insurance coverage; the availability and cost of necessary items such as power, water, skilled labour, transportation and appropriate smelting and refining arrangements; as well as other uncertainties and risk factors set out in filings made from time to time with Canadian securities regulators, including, without limitation, Mason's Annual Information Form for the financial year ended December 31, 2017, that is filed on SEDAR; and any misjudgements in the course of preparing forward-looking statements. Actual results, developments and timetables could vary significantly from the estimates presented. Readers are cautioned not to put undue reliance on forward-looking statements. Mason disclaims any intent or obligation to update publicly such forward-looking statements, whether as a result of new information, future events or otherwise. Additionally, Mason undertakes no obligation to comment on analyses, expectations or statements made by third parties in respect of Mason, its financial or operating results or its securities.
SOURCE Mason Resources
For further information: Mason Resources Corp., David Jan, Investor Relations, (604) 673-2001, [email protected]; For shareholder inquiries: Laurel Hill Advisory Group, North American toll free: 1-877-452-7184, Outside of North America: 1-416-304-0211, [email protected]