VANCOUVER / TORONTO, February 16, 2024 – Gold Line Resources Ltd. (“Gold Line“”) (TSXV: GLDL) is pleased to announce that at a special meeting of shareholders of Gold Line (the “Gold Line Shareholders”) held yesterday, February 15, 2024 (the “Meeting”), the Gold Line Shareholders voted overwhelmingly in favour of the resolution (the “Gold Line Shareholder Resolution”) approving the proposed arrangement with Barsele Minerals Corp. (TSXV: BME) (“Barsele”) by way of a court-approved plan of arrangement (the “Arrangement”). Pursuant to the Arrangement, among other things, Barsele will acquire all of the issued and outstanding Gold Line common shares (the “Gold Line Shares”) in consideration for 0.7382 of a common share of Barsele for each Gold Line Share held.
19,952,057 Gold Line Shares, representing 42.21% of the issued and outstanding Gold Line Shares as at the record date, were voted at the Meeting. The Gold Line Shareholder Resolution was approved by approximately 99.98% of votes cast by Gold Line Shareholders either in person (virtually) or represented by proxy at the Meeting.
The Arrangement is expected to be completed on or about February 23, 2024, subject to the approval by the Supreme Court of British Columbia and the satisfaction or waiver of certain other closing conditions. The hearing for the final order of the Supreme Court of British Columbia to approve the Arrangement is scheduled to take place on February 20, 2024.
For a more detailed description of the Arrangement, please refer to Gold Line’s management information circular dated January 17, 2024, which is available under Gold Line’s profile on SEDAR+ at www.sedarplus.ca.
ON BEHALF OF THE BOARD
“Taj Singh”
Taj Singh, President & CEO and Director
For further information, please contact:
Gold Line Resources Ltd.
Taj Singh
President & CEO and Director
T: (416) 568-1027
E: [email protected]
W: www.goldlineresources.com
About Gold Line Resources Ltd.
Gold Line is focused on acquiring mineral properties with exceptional exploration potential in the most prolific gold-producing regions of Sweden and Finland, both regarded as top-tier mining jurisdictions and emerging exploration frontiers. Both countries possess prospective mineral endowments, stable tenures, straightforward permitting, favorable tax regimes and supportive geopolitical landscapes. Gold Line’s Swedish projects are located in the Gold Line Mineral Belt and Skellefteå Belt of north-central Sweden and the Mjøsa-Vänern Belt in the southwest. In Finland, Gold Line holds the entire underexplored Oijärvi Greenstone Belt located in the north of the country.