Discovery Silver Corp. Announces Special Meeting of Shareholders: Key Details and Filings for 2025

06 March, 2025 | 3 Min Read

tickers affected by this

ticker	polarity	why?
FNV	positively	The acquisition of the Porcupine Complex by Discovery Silver Corp. is likely to enhance its operational scale and economic potential, which could positively impact the ticker FNV by increasing the company’s production capabilities and market presence in the precious metals sector. This strategic move is expected to bolster Discovery Silver’s overall value and attractiveness to investors, potentially driving up the stock price.
MALRF	positively	The proposed acquisition of Newmont Corporation’s Porcupine Complex by Discovery Silver Corp. (likely ticker MALRF) will significantly expand its mining portfolio, which should be a positive development for investors shifting the company’s outlook from a small to a major precious metal player. Completion and the resultant expansion will likely raise interest in the company and potentially drive up the stock price as it brings in a large new property asset well known in the mining industry.
With a substantial portion (some 35%) of its shareholders being in favor already.

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summary

Discovery Silver Corp. Announces Filing and Mailing of Circular for Special Meeting of Shareholders

TORONTO — Discovery Silver Corp. has announced the filing and mailing of its management information circular and related materials in preparation for a special meeting of shareholders. The meeting, scheduled for March 27, 2025, at 11:00 a.m. ET, will focus on the issuance of common shares in relation to the previously announced acquisition of Newmont Corporation’s Porcupine Complex. The meeting materials are available on Discovery’s website and SEDAR+. The acquisition, valued at US$425 million, involves the purchase of Newmont’s wholly-owned subsidiaries holding the Hollinger mine, Hoyle Pond mine, Borden mine, Pamour open pit, and Dome mill, collectively known as the Porcupine Complex. The purchase price includes immediate cash and share payments, along with deferred payments to be made in four annual installments starting in 2027. According to the disclosures, at the upcoming shareholder meeting, shareholders will vote on a resolution to approve up to 123,616,667 common shares to be issued as part of the acquisition. Should the resolution not pass, the number of shares to be issued will be reduced, and the deferred cash payments to Newmont will be adjusted accordingly. However, the outcome of the vote will not affect the overall amount of the purchase price. Leadership and a significant portion of Discovery Silver’s shareholders, comprising approximately 35% of outstanding common shares, have expressed support for the resolution. The Board of Directors unanimously recommends that shareholders vote in favor of the resolution. Shareholders are encouraged to read the circular in full and cast their votes by the deadline of March 25, 2025. Discovery Silver Corp. is poised to transform into a significant North American precious metals company, with acquisitions, including the Porcupine Complex, aimed at bolstering its operational scale and economic potential.