Rio Alto and Sulliden Gold Announce Shareholder Approval for Merger

Rio Alto Mining Ltd. (TSX:RIO) and Sulliden Gold Corporation Ltd. (TSX:SUE) announced that following a special meeting of shareholders on Wednesday, a previously announced plan of arrangement was approved by shareholders of both companies.

As quoted in the press release:

99.8% of the shares represented at Rio Alto’s special shareholders’ meeting held earlier today were voted in favour of an ordinary resolution authorizing the issuance of Rio Alto common shares pursuant to the Arrangement. 99.9% of the shares represented at Sulliden’s special shareholders’ meeting held earlier today voted in favour of the Arrangement. Pursuant to the Arrangement, Sulliden shareholders will receive 0.525 of a Rio Alto share and 0.1 of a common share in the capital of SpinCo for each Sulliden share held. Sulliden’s shareholders also approved the continuance of Sulliden from the province of Québec to the province of Ontario and the adoption of a new SpinCo stock option plan at the shareholders’ meeting. The Common Shares of SpinCo have been conditionally approved for listing on the Toronto Stock Exchange.

Click here to read the Rio Alto Mining Ltd. (TSX:RIO) and Sulliden Gold Corporation Ltd. (TSX:RIO,TSX:SUE) press release.