Monday, September 15, 2025

Great Bear Shareholders Approve Acquisition By Kinross Gold

It’s official. Great Bear Resources (TSXV: GBR) is set to be acquired by Kinross Gold Corp (TSX: K). The previously announced merger has formally been accepted by the shareholders of Great Bear, enabling the transaction to proceed.

The purchase of the company by Kinross was reportedly approved by 97.80% of the votes cast by the firms shareholders by proxy, and approved by 97.98% of the votes cast by shareholders, optionholders, RSU holders, and deferred share owners. The transaction is now subject to approval of the Supreme Court of British Columbia, with the final such court hearing on the matter to occur tomorrow.

If approved by the courts, the transaction is expected to close by the end of February.

The transaction will see Great Bear acquired by Kinross for $29 per share in initial consideration. Shareholders of Great Bear are able to elect to receive full payment in cash from the company, or to receive 3.8564 shares of Kinross for each share held. Consideration is subject to pro-ration, with a maximum cash figure of $1.4 billion to be laid out by Kinross, and a maximum of 80.7 million shares.

Security holders of the company are to also receive what is referred to as contingent value rights, equal to 0.133 of a Kinross share per share of Great Bear held, which is payable upon the achievement of commercial production at the Dixie Project. The property must also have at least 8.5 million gold ounces in the M&I category of a mineral resource estimate.

Great Bear Resources last traded at $28.70 on the TSX Venture.


Information for this briefing was found via Sedar, and Great Bear Resources. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

New Found Gold: The Strategic Maritime Resources Purchase

Amex Exploration: Revised Perron PEA Has INSANE Economics

Aris Mining: The Multi Billion Dollar Soto Norte PFS

Recommended

Northern Superior Expands Philibert With 350 Metre Step Out Testing 1.10 g/t Gold Over 25.5 Metres

Goliath Resources Hits 18.58 g/t Gold Over 5.00 Metres At Surebet

Related News

Great Bear Discovers New Mineralization Zone At Dixie Project

Great Bear Resources (TSXV: GBR) released further drill results this morning as a part of...

Thursday, June 18, 2020, 09:11:22 AM

Trillium Acquires Land Package East Of Great Bear’s Dixie Project

Trillium Gold Mines (TSXV: TGM) this morning announced that it has entered an arrangement to...

Wednesday, October 21, 2020, 08:28:52 AM

Kinross Gold Closes Sale Of Ghana Operations For $225 Million To Asante Gold

Kinross Gold (TSX: K) has continued on its process of divesting of certain mining assets...

Thursday, August 11, 2022, 09:30:05 AM

Great Bear Resources Releases Further Assays at Dixie, Highlights 81.22 G/T Gold Over 10.50 Metres

Great Bear Resources (TSXV: GBR) continued its slow release of assay results from its ongoing...

Tuesday, August 4, 2020, 09:09:17 AM

Red Lake District: Home to High-Grade Gold Deposits and Great Bear Resources, a Gold Rush Catalyst

The Red Lake mining district in Northwestern Ontario is best known for its high-grade gold...

Sunday, July 12, 2020, 11:20:54 AM