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Great Panther shareholders urged to approve Beadell takeover, name change

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Great Panther shareholders urged to approve Beadell takeover, name change

Great Panther Silver Ltd.'s board urged shareholders to vote in favor of its proposed takeover of Beadell Resources Ltd. and name change in a Feb. 11 special meeting.

In the proposed deal, Beadell shareholders are expected to own approximately 38% of the combined company, receiving 0.0619 of a common Great Panther share for each ordinary Beadell share held. Great Panther is expected to issue approximately 103.6 million shares.

Great Panther said Jan. 7 that it is also seeking approval for a rebrand to Great Panther Mining Ltd.

Beadell's flagship asset is the Tucano gold mine in Brazil, while Great Panther operates the Guanajuato and Topia silver-gold mines in Mexico. Great Panther is also working to restart the Coricancha polymetallic mine in Peru.

Great Panther provided Beadell with a short-term US$5 million loan in December 2018, after Beadell reached an agreement with MACA Ltd. to extend a A$54.7 million loan post-merger.