- Murgor to apply for final order from Court on
February 25, 2015
- Arrangement expected to close on March 10, 2015
KINGSTON, ON, Feb. 24,
2015 /CNW/ - Murgor Resources Inc. (TSXV: MGR) is pleased to
announce that its securityholders approved a previously-announced
arrangement with Alexandria Minerals Corporation (TSXV: AZX;
Frankfurt: A9D) at a special meeting of Murgor securityholders held
today in Montreal. The Arrangement was approved by 99.78% of
the votes cast by the holders of Murgor's common shares and by the
holders of Murgor's stock options, voting as a single class.
The Arrangement was also approved by a majority of the votes cast
by Murgor securityholders, excluding the votes cast by André C.
Tessier, the President, Chief
Executive Officer and a director of Murgor, and his related
parties, as required by applicable Canadian securities
legislation.
As previously announced, Murgor will apply to the Québec
Superior Court for a final order in respect of the arrangement on
February 25, 2015. If the final order is granted by the
Court, it is expected that the Arrangement will become effective on
Tuesday, March 10, 2015. The shares of Murgor will
continue to trade on the TSX Venture Exchange until that time.
The Plan of Arrangement provides that holders of Murgor common
shares will receive 0.50 of an Alexandria common share in exchange for each
Murgor common share and holders of Murgor stock options who do not
exercise such options prior to the effective time of the
Arrangement will receive stock options of Alexandria (the "Replacement Alexandria
Options") entitling the holder thereof to acquire 0.50 of an
Alexandria common share for each
Murgor common share the holder would have otherwise been entitled
to acquire. The Replacement Alexandria Options will have an
exercise price of $0.12 and will
expire on the earlier of the expiration date of the Murgor stock
options and twelve months following the effective date of the
Arrangement.
Forward-Looking Statements
This press release contains
forward-looking statements relating to the Arrangement.
Statements based on the current expectations of Murgor's
management contain known and unknown inherent risks and
uncertainties and no assurance can be given that potential future
results or circumstances will be achieved or will occur. In
particular, the timing and completion of the proposed Arrangement
are subject to certain conditions, termination rights and other
risks and uncertainties. Accordingly, there can be no
assurance that the proposed Arrangement will occur, or that it will
occur on the timetable or on the terms and conditions contemplated.
The reader should not place undue faith on forward-looking
information. Management disclaims any intention or obligation
to update or revise any forward-looking statements whether as a
result of new information, future events or circumstances.
About Murgor Resources
Murgor Resources Inc. is a
mineral exploration and development company focused on gold and
copper exploration in Canada.
Murgor owns a 100% interest in two gold-copper deposits in
the Snow Lake and Flin Flon mining districts of Manitoba. Murgor further owns a
portfolio of high-potential gold properties in proven mining
districts of Canada, such as the
Gullrock property and its newly-acquired Wydee Property in
Ontario.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
SOURCE Ressources Murgor inc.