LAS VEGAS, Sept. 18, 2018 (GLOBE NEWSWIRE) — Nevada Gold & Casinos, Inc. (NYSE MKT: UWN) today appear the signing of a absolute alliance acceding with Maverick Casinos, LLC (“Maverick”). Beneath the acceding of the alliance agreement, Maverick will access all of the outstanding shares of the Company’s accepted b for $2.50 per allotment in cash, accountable to assertive accessory adjustments. The transaction will aftereffect in the Aggregation acceptable a clandestine company.
The Manager of Maverick is Eric Persson. An associate of Maverick owns the Wendover Nugget Hotel & Bank and Red Garter Hotel & Bank in Wendover, Nevada, alternating with assorted added assets.
Maverick intends to armamentarium the transaction primarily with debt costs from Nevada State Bank added disinterestedness costs from Maverick. The transaction is not accountable to a costs condition.
William Sherlock, Chairman of Nevada Gold, said, “Our ambition was to access the accomplished amount in a auction of the Company. We accept the transaction appear today achieves our cold and provides actual banknote application for our shareholders.”
The transaction is accountable to approval of a majority of the shareholders of Nevada Gold, the approval of applicative gaming authorities, achievement of the auction of the Company’s Club Fortune bank in Henderson, Nevada, which is beneath contract, and added accepted closing conditions. The companies apprehend the transaction to aing by the end of 2018.
The Company’s Board of Admiral has absolutely accustomed the alliance agreement.
Rossoff & Company, LLC is confined as banking adviser and Hughes Hubbard & Reed LLP is confined as acknowledged admonition to the Aggregation in affiliation with the transaction.
About Nevada Gold & Casinos
Nevada Gold & Casinos, Inc. (NYSE MKT:UWN) of Las Vegas, Nevada is a developer, buyer and abettor of 9 gaming operations in Washington (wagoldcasinos.com) and a bounded bank in Henderson, Nevada (clubfortune.com).
This absolution contains advanced statements, which are fabricated pursuant to the safe anchorage accoutrement of the Clandestine Securities Litigation Reform Act of 1995. We use words such as “anticipate,” “believe,” “expect,” “future,” “intend,” “plan,” and agnate expressions to yze advanced statements. Advanced statements include, afterwards limitation, achievement of the altitude to closing the transaction in the advancing timeframe or at all, the costs of the transaction, risks accompanying to the costs of the transaction, the aftereffect of the advertisement of the transaction on the adeptness of the Aggregation to absorb and appoint key cadre and advance relationships with its customers, suppliers, ally and others with whom it does business, or on its operating after-effects and businesses generally, and the Company’s adeptness to access assets streams, to abound acquirement and earnings, and to access added gaming and added projects. These statements are alone predictions and are accountable to assertive risks, uncertainties and assumptions, which include, but are not bound to, those articular and declared in the Company’s accessible filings with the Securities and Exchange Commission. You are cautioned not to abode disproportionate assurance on these advanced statements, which allege alone as of the date hereof. The Aggregation does not undertake any obligation to amend any advanced statements as a aftereffect of new information, approaching developments or otherwise, except as especially appropriate by law.
Additional Advice and Where to Find It
In affiliation with the proposed transaction, the Aggregation affairs to book accordant abstracts with the Securities and Exchange Commission (the “SEC”), including a proxy statement. Promptly afterwards filing its absolute proxy account with the SEC, the Aggregation will mail the absolute proxy account to anniversary stockholder advantaged to vote at the appropriate affair apropos to the transaction. STOCKHOLDERS ARE URGED TO CAREFULLY READ THE PROXY STATEMENT (INCLUDING ANY AMENDMENTS OR SUPPLEMENTS THERETO AND ANY DOCUMENTS INCORPORATED BY REFERENCE THEREIN) AND ANY OTHER RELEVANT DOCUMENTS IN CONNECTION WITH THE TRANSACTION THAT THE COMPANY WILL FILE WITH THE SEC WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE TRANSACTION AND THE PARTIES TO THE TRANSACTION. The absolute proxy statement, the basic proxy statement, and added accordant abstracts in affiliation with the transaction (when they become available) and any added abstracts filed by the Aggregation with the SEC, may be acquired chargeless of allegation at the SEC’s website (www.sec.gov) or, afterwards charge, from the Aggregation by mail or online from the Company’s website at www.nevadagold.com.
The Aggregation and its admiral and controlling admiral may be accounted to be participants in the address of proxies from the Aggregation stockholders with account to the proposed transaction. Advice about the admiral and controlling admiral of the Aggregation is set alternating in the Company’s Annual Report on Form 10-K for the year concluded April 30, 2018, filed with the SEC on July 26, 2018. Other advice apropos the participants in the proxy address and a description of their absolute and aberrant interests, by aegis backing or otherwise, will be independent in the proxy account and added accordant abstracts to be filed with the SEC in account of the adduce transaction.
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