Vancouver, British Columbia
American Pacific Mining Corp. (CSE: USGD) is excited to announce the results of its annual general and special meeting of shareholders ("Shareholders") held on February 25, 2026.
Shareholders voted in favor of all resolutions presented at the meeting, including the court-approved plan of arrangement (the "Arrangement") with ICG Silver & Gold Ltd. ("ICG"). Other resolutions included the election of directors, re-appointment of Davidson & Company LLP as auditors, and the re-approval of the stock option plan.
Details of the Arrangement
Under the terms of the arrangement agreement dated December 7, 2025, as amended on January 21, 2026, ICG will acquire 100% of the Tuscarora and Danny Boy projects from American Pacific. In exchange, the company will receive 11,500,000 fully paid and non-assessable common shares in ICG.
Of these ICG shares, 7,500,000 will be distributed to Shareholders based on an exchange ratio to be determined at the closing date of the transaction. For illustrative purposes, the exchange ratio is approximately 0.0283 of an ICG share for each APM share held.
Shareholder Participation
A total of 81,449,676 APM shares were represented at the meeting, which is 37.17% of the 219,088,051 issued and outstanding shares entitled to vote. The arrangement required at least two-thirds approval from Shareholders present or represented by proxy. Notably, 90.22% of total votes and 89.87% of minority votes were cast in favor of the arrangement.
All other motions, including the board elections, also passed successfully.
Next Steps
The company will seek a final order from the Supreme Court of British Columbia to approve the arrangement on February 27, 2026. The arrangement is expected to be completed in March 2026, subject to customary closing conditions.
About ICG Silver & Gold Ltd.
ICG is a mineral exploration and development company focused on the Tuscarora District in northern Nevada and plans to complete a public listing in Q1 2026.
For more details, visit ICG's website or subscribe to their newsletter for updates.
About American Pacific Mining Corp.
American Pacific is a precious and base metals explorer focused on opportunities across the Western United States. Their flagship project is the Madison Copper-Gold Project in Montana, and they are also engaged in various other high-grade projects in Nevada.
For further information about American Pacific and its projects, refer to the company's website.