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ISS and Glass Lewis throw weight behind IDM-Ascot tie-up

12th March 2019

By: Creamer Media Reporter

     

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Independent proxy advisory firms Institutional Shareholder Services (ISS) and Glass Lewis & Co have recommended that IDM Mining shareholders vote in favour of a takeover by Ascot Resources.

The combination of the companies will join two advanced projects and create a compelling resource base of high-grade measured and indicated gold/silver resources, positioning Ascot as a consolidator in the southern Golden Triangle, ISS and Glass Lewis stated on Monday.

IDM owns the Red Mountain project and Ascot owns the Premier gold project in north-western British Columbia.

IDM shareholders will vote on the transaction at a special meeting on March 20 in Vancouver. Each IDM shareholder will receive 0.0675 of a common share of Ascot for each share held.

Edited by Mariaan Webb
Creamer Media Senior Deputy Editor Online

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