Vancouver, British Columbia – February 24, 2022 (Investorideas.com Newswire) Nice Bear Assets Ltd. (the “Firm” or “Nice Bear”), (TSXV: GBR) (OTCQX: GTBAF) introduced at present that Kinross Gold Company (“Kinross”), (TSX: Ok) (NYSE: KGC) has accomplished the beforehand introduced acquisition of Nice Bear by means of a plan of association (the “Association”).
Chris Taylor, President and CEO of Nice Bear stated, “After their thrilling and rewarding journey from acquisition by way of discovery, our shareholders and native stakeholders are actually nicely positioned to learn from Kinross’ growth and operational experience. We look ahead to following Kinross’ progress as they advance considered one of Canada’s greatest new gold discoveries in direction of what we imagine might be considered one of Canada’s greatest new gold mines. Nice Bear’s administration want to thank Perry English, Rimini Exploration and Consulting, our companions on the Wabauskang and Lac Seul First Nations, and the folks of the Pink Lake area for his or her years of cooperation and help.”
Beneath the phrases of the Association, Nice Bear shareholders have been supplied the suitable to elect to obtain C$29.00 in money for every Nice Bear widespread share (“Nice Bear Share”) or 3.8564 Kinross widespread shares (“Kinross Share”) per Nice Bear Share, each topic to pro-ration to a most money consideration of roughly US$1.1 billion (C$1.4 billion) and a most of 80,773,353 Kinross Shares (the “Consideration”). Based mostly on legitimate elections obtained by the election deadline, Nice Bear shareholders who elected (or who have been deemed to elect) to obtain money have been topic to pro-ration and can obtain roughly C$25.80 in money and roughly 0.4257 Kinross Shares per Nice Bear Share. Nice Bear shareholders who elected to obtain the shares weren’t topic to pro-ration.
The Association additionally features a cost of contingent consideration within the type of one contingent worth proper (“CVR”) per Nice Bear Share that could be exchanged for 0.1330 of a Kinross Share per Nice Bear Share. The contingent consideration might be payable in reference to Kinross’ public announcement of business manufacturing on the Dixie undertaking, supplied {that a} cumulative complete of not less than 8.5 million gold ounces of mineral reserves and measured and indicated mineral assets are disclosed. The CVRs are transferable and have a time period of 10 years.
In mixture, Kinross pays roughly C$1.35 billion in money and challenge roughly 49.3 million Kinross shares and 59.3 million CVRs to Nice Bear securityholders beneath the Association.
The shares of Nice Bear are anticipated to be delisted from the TSX Enterprise Alternate on or round market shut on February 25, 2022. Following the delisting, Kinross intends to use for Nice Bear to stop to be a reporting issuer beneath relevant Canadian securities legal guidelines.
Data relating to the process for change of shares for the Consideration is supplied within the Firm’s administration data round dated January 13, 2022 (the “Round”). The Round is accessible on SEDAR beneath the Firm’s profile at www.sedar.com and on the Firm’s web site at www.greatbearresources.ca/investors/great-bear-kinross-transaction.
About Nice Bear
Nice Bear Assets Ltd. is a Vancouver-based gold exploration firm targeted on advancing its 100% owned Dixie undertaking in Northwestern Ontario, Canada. A major exploration drill program is presently underway to outline the mineralization inside a large-scale, high-grade disseminated gold discovery made in 2019, the LP Fault. Extra exploration drilling can also be in progress to increase and infill close by high-grade gold zones, in addition to to check new regional targets.
Nice Bear is a dedicated companion to all stakeholders, with a long-term imaginative and prescient of sustainable exploration to advance the Dixie undertaking in a way that demonstrates good stewardship of land, operational excellence and accountability.
Cautionary be aware relating to forward-looking statements
This launch comprises sure “ahead trying statements” and sure “forward-looking data” as outlined beneath relevant Canadian and U.S. securities legal guidelines. Ahead-looking statements and knowledge can usually be recognized by means of forward-looking terminology equivalent to “could”, “will”, “ought to”, “count on”, “intend”, “estimate”, “anticipate”, “imagine”, “proceed”, “plans” or related terminology. The forward-looking data contained herein is supplied for the aim of aiding readers in understanding administration’s present expectations and plans regarding the long run. Readers are cautioned that such data might not be acceptable for different functions.
Ahead-looking statements relate to future occasions or future efficiency and replicate our expectations or beliefs relating to future occasions and the impacts of the continued and evolving COVID-19 pandemic. Ahead-looking statements embrace, however should not restricted to statements with respect to the Consideration payable beneath the Association, the timing of the delisting of Nice Bear Shares; the contingent consideration; the pro-ration; the strengths, traits and potential of the Association; and development potential and expectations relating to the power to advance the undertaking. By their very nature, forward-looking statements contain identified and unknown dangers, uncertainties and different components which will trigger our precise outcomes, efficiency or achievements to be materially completely different from any future outcomes, efficiency or achievements expressed or implied by the forward-looking statements. Such components embrace, amongst others, the required courtroom, regulatory and different consents and approvals to impact the Association, the likelihood that the Association may very well be terminated beneath sure circumstances.
Ahead-looking data are primarily based on administration of the events’ affordable assumptions, estimates, expectations, analyses and opinions, that are primarily based on such administration’s expertise and notion of tendencies, present situations and anticipated developments, and different components that administration believes are related and affordable within the circumstances, however which can show to be incorrect. Such components, amongst different issues, embrace: impacts arising from the worldwide disruption attributable to the Covid-19 coronavirus outbreak, enterprise integration dangers; fluctuations generally macroeconomic situations; fluctuations in securities markets; fluctuations in spot and ahead costs of gold or sure different commodities; change in nationwide and native authorities, laws, taxation, controls, laws and political or financial developments; dangers and hazards related to the enterprise of mineral exploration, growth and mining (together with environmental hazards, industrial accidents, uncommon or sudden formations pressures, cave-ins and flooding); discrepancies between precise and estimated metallurgical recoveries; lack of ability to acquire sufficient insurance coverage to cowl dangers and hazards; the presence of legal guidelines and laws which will impose restrictions on mining; worker relations; relationships with and claims by native communities and indigenous populations; availability of accelerating prices related to mining inputs and labour; the speculative nature of mineral exploration and growth (together with the dangers of acquiring mandatory licenses, permits and approvals from authorities authorities); and title to properties.
Nice Bear undertakes no obligation to replace forward-looking data besides as required by relevant regulation. Such forward-looking data represents administration’s greatest judgment primarily based on data presently out there. No forward-looking assertion could be assured and precise future outcomes could differ materially. Accordingly, readers are suggested to not place undue reliance on forward-looking statements or data.
SOURCE Nice Bear Assets Ltd.
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