GREAT PANTHER MINING LIMITED (TSX: GPR; NYSE American: GPL) ("Great Panther", the "Company") is pleased to announce that it has completed the acquisition (the "Acquisition") of Beadell Resources Limited ("Beadell") and changed its name to Great Panther Mining Limited.
Image: Natural silver nugget, 1 cm long. Photo: courtesy of Jurii/Wikimedia Commons.
“We are very pleased to close this important transaction that immediately transforms Great Panther into an intermediate precious metals producer with a strong and diversified portfolio of producing mines, advanced stage growth projects, and exploration assets,” stated James Bannantine, President and CEO. “Combining Great Panther and Beadell’s respective guidance adds to approximately 200,000 of gold equivalent ounces for 2019 and positions the Company in the ranks of intermediate producers(1). Our focus in the near-term will be on the integration of the Brazilian operations, the continued optimization of the Tucano gold mine, and advancing an exploration program to unlock the significant exploration potential of Tucano.”
Concurrent with the completion of the Acquisition, Dr. Nicole Adshead-Bell, former CEO & Managing Director of Beadell, joins Great Panther’s Board of Directors. Mr. R.W. (Bob) Garnett, Chair of Great Panther said: “We are pleased to welcome Dr. Adshead-Bell to Great Panther’s Board of Directors. Her extensive knowledge of precious metal exploration and mining, plus many years of buy-side, capital markets and corporate experience, will help Great Panther in realizing the significant upside potential of Tucano.”
Great Panther acquired 100% of the issued and outstanding shares of Beadell through the issuance of 103,593,043 Great Panther shares to Beadell shareholders, representing approximately 38% of the post-Acquisition issued and outstanding Great Panther shares. The share exchange represents a ratio of 0.0619 Great Panther shares for each Beadell share.
Name Change and Trading of the Great Panther Shares
The Company’s CUSIP will remain unchanged with the name change to Great Panther Mining Limited and the shares will continue to trade on the Toronto Stock Exchange under the symbol GPR and on the NYSE American under the symbol GPL. Beadell’s shares ceased trading on the Australian Securities Exchange on February 18, 2019 and are expected to be delisted on March 6, 2019.
Source: Company Press Release