{"id":389019,"date":"2020-11-27T07:48:14","date_gmt":"2020-11-27T12:48:14","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=389019"},"modified":"2020-11-27T07:48:14","modified_gmt":"2020-11-27T12:48:14","slug":"tmac-announces-extension-notice-for-national-security-review-of-transaction-with-shandong-gold-mining-co-ltd","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/tmac-announces-extension-notice-for-national-security-review-of-transaction-with-shandong-gold-mining-co-ltd\/","title":{"rendered":"TMAC Announces Extension Notice for National Security Review of Transaction with Shandong Gold Mining Co., Ltd."},"content":{"rendered":"

<\/p>\n

TMAC Announces Extension Notice for National Security Review of Transaction with Shandong Gold Mining Co., Ltd.<\/b><\/p>\n

TORONTO–(BUSINESS WIRE<\/a>)–
\nTMAC Resources Inc. (TSX: TMR) (\u201cTMAC<\/b>\u201d or the \u201cCompany<\/b>\u201d) announces that the national security review under the Investment Canada Act<\/i> (Canada) of the plan of arrangement (the \u201cTransaction<\/b>\u201d) with Shandong Gold Mining Co., Ltd. and its affiliate (\u201cShandong<\/b>\u201d or the \u201cPurchaser<\/b>\u201d) has been extended for a further period of up to 45 days. The Transaction was agreed and announced on May 8, 2020 and, as previously disclosed, the Transaction provides for the acquisition by the Purchaser of all of the issued and outstanding common shares of TMAC not already owned by Shandong or an affiliate, by way of a statutory plan of arrangement under the Business Corporations Act<\/i> (Ontario).\n<\/p>\n

ABOUT TMAC RESOURCES INC.<\/b><\/p>\n

\nTMAC operates the Hope Bay property located in Nunavut, Canada. The property and operations are remote but not isolated, serviced by both a port and airstrip. Hope Bay is an 80 km by 20 km Archean greenstone belt that has been explored by BHP, Miramar, Newmont and TMAC over a period spanning more than 30 years. In that time, more than $1.5 billion of expenditures have been spent in exploration and evaluation, surface infrastructure, and mine and process plant development. TMAC began producing gold in early 2017 from Doris, its first mine at Hope Bay, and processed gold at the Doris processing plant which originally had nameplate capacity of 1,000 tpd and expanded to 2,000 tpd midway through 2018. There is potential to grow TMAC\u2019s established deposits considerably at depth, and then grow resources further through the prioritized exploration of the more than 90 other identified regional targets. TMAC is now permitted to produce from both Madrid and Boston. On June 26, 2020, shareholders of TMAC approved the sale of the Company to an affiliate of Shandong and on June 30, 2020, the Company received a final order from the Ontario Superior Court of Justice approving the Transaction. The Transaction has received all the required regulatory approvals from the government of the People\u2019s Republic of China. Closing of the Transaction is subject to the receipt of all required regulatory approvals and the satisfaction or waiver of all closing conditions.\n<\/p>\n

FORWARD-LOOKING INFORMATION<\/b><\/p>\n

\nThis release contains \u201cforward-looking information\u201d within the meaning of applicable securities laws that is intended to be covered by the safe harbours created by those laws. \u201cForward-looking information\u201d includes statements that use forward-looking terminology such as \u201cmay\u201d, \u201cwill\u201d, \u201cexpect\u201d, \u201canticipate\u201d, \u201cbelieve\u201d, \u201ccontinue\u201d, \u201cpotential\u201d or the negative thereof or other variations or comparable terminology. Forward-looking information in this press release includes, but is not limited to, the ability of the Company and Shandong and its affiliates to obtain all regulatory approvals, including the approval under the Investment Canada Act<\/i> and to satisfy all other required closing conditions.\n<\/p>\n

\n\u201cForward-looking information\u201d is not a guarantee of future performance and management bases forward-looking statements on a number of estimates and assumptions at the date the statements are made. Furthermore, such \u201cforward-looking information\u201d involves a variety of known and unknown risks, uncertainties and other factors, which may cause the actual plans, intentions, activities, results, performance or achievements expressed or implied. See \u201cRisk Factors\u201d in the Company\u2019s Annual Information Form dated May 12, 2020 filed on SEDAR at www.sedar.com<\/a> for a discussion of these risks.\n<\/p>\n

\"\"<\/p>\n

View source version on businesswire.com: <\/span>https:\/\/www.businesswire.com\/news\/home\/20201127005352\/en\/<\/a><\/span><\/p>\n

TMAC Resources Inc.
\n<\/b>
Jason Neal
\n
President and Chief Executive Officer
\n<\/i>
Phone: 647-480-3111\n<\/p>\n

\nLisa Wilkinson
\n
Vice President, Investor Relations and Strategic Development
\n<\/i>
Phone: 647-480-3110
\n
Email: Lisa.Wilkinson@tmacresources.com
\n<\/a>
www.tmacresources.com<\/a><\/p>\n

KEYWORDS:<\/b> North America Canada<\/p>\n

INDUSTRY KEYWORDS:<\/b> Mining\/Minerals Natural Resources<\/p>\n

MEDIA:<\/b><\/p>\n\n\n\n\n
Logo<\/b><\/font><\/td>\n<\/tr>\n
\"Logo\"<\/td>\n<\/tr>\n
<\/font><\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"

TMAC Announces Extension Notice for National Security Review of Transaction with Shandong Gold Mining Co., Ltd. TORONTO–(BUSINESS WIRE)– TMAC Resources Inc. (TSX: TMR) (\u201cTMAC\u201d or the \u201cCompany\u201d) announces that the national security review under the Investment Canada Act (Canada) of the plan of arrangement (the \u201cTransaction\u201d) with Shandong Gold Mining Co., Ltd. and its affiliate (\u201cShandong\u201d or the \u201cPurchaser\u201d) has been extended for a further period of up to 45 days. The Transaction was agreed and announced on May 8, 2020 and, as previously disclosed, the Transaction provides for the acquisition by the Purchaser of all of the issued and outstanding common shares of TMAC not already owned by Shandong or an affiliate, by way of a statutory plan of … <\/p>\n

Continue reading “TMAC Announces Extension Notice for National Security Review of Transaction with Shandong Gold Mining Co., Ltd.”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-389019","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nTMAC Announces Extension Notice for National Security Review of Transaction with Shandong Gold Mining Co., Ltd. - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/tmac-announces-extension-notice-for-national-security-review-of-transaction-with-shandong-gold-mining-co-ltd\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"TMAC Announces Extension Notice for National Security Review of Transaction with Shandong Gold Mining Co., Ltd. - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"TMAC Announces Extension Notice for National Security Review of Transaction with Shandong Gold Mining Co., Ltd. TORONTO–(BUSINESS WIRE)– TMAC Resources Inc. (TSX: TMR) (\u201cTMAC\u201d or the \u201cCompany\u201d) announces that the national security review under the Investment Canada Act (Canada) of the plan of arrangement (the \u201cTransaction\u201d) with Shandong Gold Mining Co., Ltd. and its affiliate (\u201cShandong\u201d or the \u201cPurchaser\u201d) has been extended for a further period of up to 45 days. The Transaction was agreed and announced on May 8, 2020 and, as previously disclosed, the Transaction provides for the acquisition by the Purchaser of all of the issued and outstanding common shares of TMAC not already owned by Shandong or an affiliate, by way of a statutory plan of … Continue reading "TMAC Announces Extension Notice for National Security Review of Transaction with Shandong Gold Mining Co., Ltd."\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/tmac-announces-extension-notice-for-national-security-review-of-transaction-with-shandong-gold-mining-co-ltd\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2020-11-27T12:48:14+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&sty=20201127005352r1&sid=flmnd&distro=nx&lang=en\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/tmac-announces-extension-notice-for-national-security-review-of-transaction-with-shandong-gold-mining-co-ltd\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/tmac-announces-extension-notice-for-national-security-review-of-transaction-with-shandong-gold-mining-co-ltd\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"TMAC Announces Extension Notice for National Security Review of Transaction with Shandong Gold Mining Co., Ltd.\",\"datePublished\":\"2020-11-27T12:48:14+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/tmac-announces-extension-notice-for-national-security-review-of-transaction-with-shandong-gold-mining-co-ltd\\\/\"},\"wordCount\":614,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/tmac-announces-extension-notice-for-national-security-review-of-transaction-with-shandong-gold-mining-co-ltd\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/cts.businesswire.com\\\/ct\\\/CT?id=bwnews&sty=20201127005352r1&sid=flmnd&distro=nx&lang=en\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/tmac-announces-extension-notice-for-national-security-review-of-transaction-with-shandong-gold-mining-co-ltd\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/tmac-announces-extension-notice-for-national-security-review-of-transaction-with-shandong-gold-mining-co-ltd\\\/\",\"name\":\"TMAC Announces Extension Notice for National Security Review of Transaction with Shandong Gold Mining Co., Ltd. - 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