Vale to produce up to 335 million tonnes of iron ore next year
The miner reported an output of about 328 million tonnes this year.
Toronto, Ontario--(Newsfile Corp. - October 11, 2022) - West Red Lake Gold Mines Inc. (CSE: RLG) ("RLG" or the "Company") announces the filing of its Management Information Circular (the "Circular") in connection with its special meeting of shareholders (the "Special Meeting") to consider and if thought advisable approve the previously announced amalgamation of the Company with DLV Resources Ltd. ("DLV"). A copy of the Circular can be downloaded from the Company's SEDAR profile at www.sedar.com and is also available at the Company's website. The details of the proposed amalgamation transaction (the "Amalgamation") were announced in prior news releases on August 16, 2022 and September 15, 2022. The Amalgamation will be by way of a three-cornered amalgamation whereby the Company will amalgamate with a wholly owned subsidiary of DLV and shareholders of the Company will receive 0.1215 common shares of DLV in exchange for each common share of the Company held. The completion of the Amalgamation remains subject to customary closing conditions, including approval of the shareholders of the Company by special resolution. The Amalgamation is expected to be completed in November, 2022.
The Special Meeting will be held at 11:00 a.m. on Thursday, November 10, 2022 at 25 Adelaide Street East, Suite 1301, Toronto, Ontario, M5C 3A1. The record date for the Special Meeting has been set by the Board of Directors as October 3, 2022.
The Company is using Notice and Access which allows the Company to deliver the Circular to registered shareholders and beneficial holders by posting it and other related materials online, instead of mailing the documents. Notice and Access is an environmentally friendly and cost-effective way to distribute the circular because it reduces printing, paper and postage.
Shareholders may access the Circular and other meeting materials under RLG's profile on SEDAR at www.sedar.com and at www.westredlakegold.com.
Registered holders or beneficial owners may request that paper copies of the meeting materials be sent to them by postal delivery at no cost to them. Requests may be made up to one year from the date the meeting materials are posted on the website referenced above. In order to receive a paper copy of the meeting materials or if you have any questions concerning notice-and-access, please call toll free at 1-888-970-5388 or 416-203-9181ext:4600 or email [email protected]. Requests for paper materials should be received by November 1, 2022 in order to receive the meeting materials in advance of the Special Meeting.
The Company also announces that it has filed on SEDAR a Technical Report (the "Technical Report") prepared in accordance with National Instrument 43-101 for its West Red Lake Gold Project in Northern Ontario.
The Technical Report titled "Technical Report on The West Red Lake Project, Todd, Hammell Lake, and Fairlie Townships, Red Lake Mining Division, Ontario" is dated October 7, 2022 with an effective date of September 30, 2022. The Technical Report updates property exploration work since the date of the previous technical report and can be found under the Corporation's profile on SEDAR (www.sedar.com) and on the Corporation's website (www.westredlakegold.com).
ON BEHALF OF WEST RED LAKE GOLD MINES LTD."John Kontak"
John KontakPresident
For further information, please contact:John KontakPresident
Tel: (416) 203-9181
The Canadian Securities Exchange has neither approved nor disapproved the contents of this news release. Certain statements contained in this news release constitute "forward-looking statements". When used in this document, the words "anticipated", "expect", "estimated", "forecast", "planned", and similar expressions are intended to identify forward-looking statements or information. These statements are based on current expectations of management, however, they are subject to known and unknown risks, uncertainties and other factors that may cause actual results to differ materially from the forward-looking statements in this news release. Readers are cautioned not to place undue reliance on these statements. West Red Lake Gold does not undertake any obligation to revise or update any forward-looking statements as a result of new information, future events or otherwise after the date hereof, except as required by securities laws.
NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES OR TO A U.S. PERSON
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