Fortuna Completes Acquisition of Goldrock Mines Corp.
Vancouver, July 28, 2016: Fortuna Silver Mines Inc. ("Fortuna" or the "Company") (NYSE: FSM) (TSX: FVI) and Goldrock Mines Corp. ("Goldrock") (TSX-V: GRM) are pleased to report that Fortuna has completed its previously announced acquisition of all of the issued and outstanding shares of Goldrock ("Goldrock Shares") by way of plan of arrangement (the "Arrangement"). Goldrock is now a wholly-owned subsidiary of Fortuna.Pursuant to the Arrangement, Goldrock shareholders received 0.1331 of a common share of Fortuna (each whole share, a "Fortuna Share") for each Goldrock Share held. Additionally, outstanding warrants to purchase Goldrock Shares are now exercisable for Fortuna Shares based on the same exchange ratio.
The Arrangement was approved by the Supreme Court of British Columbia in its final order dated July 26, 2016. The Arrangement remains subject to final approval by the Toronto Stock Exchange, the New York Stock Exchange and the TSX Venture Exchange (the "TSX-V").
The delisting of the Goldrock Shares from the TSX-V is expected to occur at the close of business on or about July 28, 2016 and applications will be made for Goldrock to cease being a reporting issuer in the applicable jurisdictions.
Full details of the Arrangement are set out in Goldrock's management information circular dated June 17, 2016, which is filed under Goldrock's SEDAR profile at