FINWIRES · TerminalLIVE
FINWIRES

McEwen and Golden Lake Exploration Announce Closing of Arrangement

By

McEwen (MUX.TO, MUX) and Golden Lake Exploration (GLM.CN) late Thursday announced the completion of the previously announced business combination between the companies by way of statutory plan of arrangement.

Under the terms of the arrangement, each holder of common shares of Golden Lake received 0.003876 McEwen common shares for each Golden Lake share held, said the company.

"Outstanding stock options of Golden Lake were exchanged for replacement options of McEwen on an equivalent economic basis, with adjusted exercise prices, exercisable within 90 days following the closing of the Arrangement, in accordance with the terms of Golden Lake's stock option plan," said the company.

The shares of Golden Lake are expected to be delisted from the Canadian Securities Exchange effective as of the close of market on April 30, 2026, stated the company.

"Golden Lake will submit an application to cease to be a reporting issuer under applicable Canadian securities laws and to otherwise terminate its public reporting requirements," added the company.

Related Articles

Mining & Metals

Earnings Flash (BDGI.TO) Badger Infrastructure Solutions Posts Q1 Adjusted EPS US$0.22 Per Share Basic and Diluted

$BDGI.TO
Mining & Metals

Earnings Flash (BDGI.TO) Badger Infrastructure Solutions Ltd. Reports Q1 Revenue US$203.2M, Up 18%; 13% EBITDA Growth

$BDGI.TO
Mining & Metals

Sun Life Financial Reaches Settlement in Principle to Resolve MetLife Class Action; AM Best Affirms Credit Ratings

Sun Life Financial (SLF.TO) Thursday after trade said it has reached a settlement in principle to resolve a class action relating to individual life insurance policies sold and issued by MetLife in the 1980s and 1990s, which Sun Life inherited through acquisitions.This matter does not involve any policies or products sold by Sun Life, the company said.If approved, Sun Life would provide up to $213.5 million settlement value to eligible policyholders, which is expected to result in a charge to first quarter 2026 reported net income of approximately $145 million.The proceedings relate to the interpretation of policy language in the policies, which are subject to an indemnity from MetLife. Sun Life will seek full recourse from MetLife pursuant to the indemnity, if the settlement is approved, it confirmed.Separately, AM Best affirmed the financial strength rating (FSR) of A+ (Superior) and the long-term issuer credit ratings (Long-Term ICR) of "aa" (Superior) of Sun Life Assurance Company of Canada and Sun Life and Health Insurance Company (U.S.), core insurance subsidiaries of Sun Life Financial. AM Best also affirmed the Long-Term ICR of "a" (Excellent) and the Long-Term Issue Credit Ratings (Long-Term IRs) of SLF. The outlook of these ratings is stable.The ratings reflect Sun Life Group's balance sheet strength, which AM Best assesses as strongest, strong operating performance, favorable business profile and very strong enterprise risk management.Sun Life Financial shares are unchanged at US$72.08 in U.S. after-hours trade. It closed up $1.30, to $97.87 on the Toronto Stock Exchange.

$SLF$SLF.TO