Americas Silver shareholders approved a special resolution Wednesday to amend the company's articles of incorporation to create a new class of non-voting preferred shares, and an ordinary resolution to sanction the all-stock transaction.
"Today marks another important step forward toward our goal of creating a profitable, low‐cost precious metal company. Upon closing of the transaction, we will be focused on advancing the next phase of the combined company's growth by financing and bringing the low-capital, high-return Relief Canyon mine into production," Americas Silver CEO Darren Blasutti said.
Closing the deal remains subject to achieving or waiving customary conditions, including obtaining a favourable decision from the Committee on Foreign Investment in the US. However, owing to the ongoing partial shutdown of the US federal government, all deadlines for declarations and transactions under review by CFIUS are currently on pause.
Americas Silver said it had been in discussions with several parties interested in funding the development of Relief Canyon.
It has compiled a shortlist of potential parties and intends to announce its plans for financing the mine by the end of the March quarter, assuming the transaction is successful.