1011472
SOLTORO OBTAINS FINAL ORDER FOR ARRANGEMENT WITH AGNICO EAGLE MINES LIMITED
Toronto, Ontario (June 8, 2015) - Soltoro Ltd. (TSX-V:SOL) ("Soltoro" or the "Company") is pleased to announce that it has obtained a final order from the Ontario Superior Court of Justice (Commercial List) approving its previously announced plan of arrangement (the "Arrangement") with Agnico Eagle Mines Limited (NYSE:AEM, TSX:AEM) ("Agnico Eagle") pursuant to which Agnico Eagle will acquire all of the issued and outstanding common shares of Soltoro, including common shares issuable on the exercise of outstanding options and warrants of Soltoro. Receipt of the final order follows Soltoro's special meeting of securityholders held on June 4, 2015 where the special resolution approving the Arrangement was overwhelmingly approved by 99.95% of the votes cast by Soltoro securityholders.
Under the Arrangement, Soltoro shareholders will be entitled to receive, in respect of each Soltoro common share held at the effective time of the Arrangement, 0.00793 of an Agnico Eagle common share, C$0.01 in cash, and one common share of a newly formed Ontario company named Palamina Corp. ("Palamina") valued at C$0.02 per share to be spun off to Soltoro shareholders under the proposed Arrangement. The Arrangement remains subject to the satisfaction of standard closing conditions customary in a transaction of this nature. It is currently expected that, subject to receipt of all approvals, the transaction will close on or around June 9th, 2015.
Full details of the Arrangement and certain other matters are set out in the management information circular of Soltoro dated May 5, 2015 (the "Information Circular"). A copy of the Information Circular and other meeting materials can be found on Soltoro's website at www.soltoro.com or on SEDAR at www.sedar.com.
About Soltoro
Soltoro is engaged in exploration for gold and silver deposits in Mexico. Soltoro holds in excess of 30,000 hectares of ground in Jalisco State and has been focused on expanding silver resources at the El Rayo silver-gold project. Soltoro holds three exploration properties in Mexico outside of Jalisco State which will form the exploration assets of Palamina upon completion of the Arrangement. Soltoro has
94,335,037 common shares issued and outstanding which trade on the TSX Venture Exchange under the symbol "SOL".
Further Information
For further information regarding Soltoro, contact:
Andrew Thomson, President and CEO at (416) 987-0722 or visit www.soltoro.com.
Forward-Looking Statements
The information in this document has been prepared as at June 8, 2015. Certain statements contained in this document constitute forward-looking information under the provisions of Canadian provincial securities laws and are referred to herein as forward-looking statements. When used in this document, the words "anticipate", "believe", "expect", "estimate", "forecast", "intend", "will", "planned", and similar expressions are intended to identify forward-looking statements or information. Such statements include without limitation: statements regarding the price, value, timing, closing and approval of the transactions contemplated by the Arrangement and the satisfaction of all conditions necessary in order
tocompletetheArrangement,includingthefinalapprovaloftheTSXV;therealizationoftheanticipatedbenefitsoftheArrangement;informationconcerningSoltoro,AgnicoEagleandPalaminaandtheirrespectivebusinessandplans;statementsregardingthequalityorpotentialofSoltoro'sproperties;statementsregardingtheabilityofAgnicoEagletoadvancetheprojectswithintheGuachinangodistrictorregardingtheabilityofPalaminatodevelopthepropertiestobeacquiredbyPalaminaundertheArrangement;statementsregardingthepotentialandvalueofPalaminaandthePalaminashares;statementsastotheprojecteddevelopmentofcertainoredeposits,includingestimatesofexploration,developmentandproduction;andstatementsregardinganticipatedfutureexploration.SuchstatementsandinformationreflectSoltoro'sviewasatthedateofthisdocumentandaresubjecttocertainrisks,uncertaintiesandassumptions,andunduerelianceshouldnotbeplacedonsuchstatementsandinformation.Manyfactors,knownandunknowncouldcausetheactualresultstobemateriallydifferentfromthoseexpressedorimpliedbysuchforwardlookingstatements.Suchrisksinclude,butarenotlimitedto:thevolatilityofpricesofgoldandsilverandothermetals;uncertaintyofmineralreserves,mineralresources,mineralgradesandmineralrecoveryestimates;uncertaintyoffutureexploration,developmentorproduction,uncertaintyconcerningcapitalandbudgetedexpendituresandcontingentliabilitiesandSoltoro'sabilitytorepaytheoperatingloanprovidedbyAgnicoEagleifrequired,andotherfeesandcosts;currencyfluctuations;financingofadditionalcapitalrequirements;costofexplorationanddevelopmentprograms;miningrisks;communityprotests;risksassociatedwithforeignoperations;governmentalandenvironmentalregulation;thevolatilityofstockprices;andrisksassociatedwithby-productmetalderivativestrategies.ForamoredetaileddiscussionofsuchrisksandotherfactorsthatmayaffectSoltoro'sabilitytoachievetheexpectationssetforthintheforward-lookingstatementscontainedinthisdocument,seetheInformationCircularandSoltoro'sotherdisclosurefiledonSEDARatwww.sedar.com.Soltorodoesnotintend,nordoesitassumeanyobligation,toupdatetheseforward-lookingstatementsandinformation,otherthanasrequiredbyapplicablelaw.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.