12 April 2023
Vancouver, April 12, 2023 – Sabina Gold & Silver Corp. (TSX:SBB; OTCQX: SGSVF) (“Sabina” or the “Company”) is pleased to announce that at a special meeting of shareholders held earlier today (“the Meeting”), Sabina shareholders voted overwhelmingly in favour of the special resolution, (the Arrangement Resolution”) approving the previously announced proposed acquisition by B2Gold Corp. (“B2Gold”) of all of the issued and outstanding common shares of the Company by way of a plan of arrangement under section 288 of the Business Corporations Act (British Columbia) (the “Proposed Transaction”).
The Arrangement Resolution was approved by approximately 88.65% of the votes cast by Sabina shareholders at the Meeting, with shareholder turnout of 73.01%. Detailed voting results for the Arrangement Resolution are as follows:
Table
“I would like to express my sincere appreciation to Sabina’s stakeholders for their support in advancing this incredible project,” said Bruce McLeod, President & CEO. “Without their backing, and the significant talent of our Sabina employees over the years, the Back River Gold District would not be the world class asset that it is today. B2Gold’s involvement as an intermediate producer with greater financial capacity provides additional de-risking of the project and leaves Sabina shareholders with a meaningful stake in the combined Company. As an all share-based transaction, the implied value of the offer is $2.20 per share or $1.2 billion (at yesterday’s close). Following the positive outcome of the shareholder vote today, we look forward to working closely with B2Gold to close this transaction on or about April 19, 2023.”