TORONTO, March 10, 2015
/CNW/ - Alexandria Minerals Corporation (TSXV: AZX)
(Frankfurt: A9D)
("Alexandria") and Murgor
Resources Inc. (TSXV: MGR) ("Murgor") are
pleased to announce today the completion of Murgor's
previously-announced arrangement (the "Arrangement") under
the Canada Business Corporations Act. The Arrangement
was approved on February 24, 2015 by
holders of Murgor common shares and Murgor stock options. The
Superior Court of Québec granted its final order approving the
Arrangement on February 25, 2015.
Pursuant to the Arrangement, Alexandria acquired all of the Murgor Shares
not already owned by it in exchange for 0.5 of a common share of
Alexandria per Murgor common share
(the "Share Consideration").
Eric Owens, President and CEO of
Alexandria, said, "We are excited
about the future of this acquisition, as the property assets
acquired are complementary to ours. Apart from the immediate
increase in resources, and the strategic location in well-known
mining districts in Quebec,
Ontario and Manitoba, we expect to see further growth and
positive results from the combined assets in 2015."
Upon surrender to Equity Financial Trust Company (the
"Depositary") of certificates representing Murgor common
shares that were outstanding immediately prior to the effective
time of the Arrangement, together with a duly completed and
executed Letter of Transmittal, registered holders of such shares
are entitled to receive the Share Consideration pursuant to, and
subject to the terms and conditions of, the Plan of
Arrangement.
Non-registered holders of Murgor common shares that were
outstanding immediately prior to the effective time of the
Arrangement should contact their nominee (i.e., broker, trust
company, bank or other registered holder) which holds the
certificates representing such securities, on their behalf to
arrange for surrender and payment pursuant to the Arrangement.
It is expected that the Murgor Shares will be delisted from the
TSX Venture Exchange later this week. Murgor intends to apply to
the relevant securities regulatory authorities to cease to be a
reporting issuer in each of the jurisdictions in Canada in which it is currently reporting.
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 Alexandria Minerals Corporation
Alexandria
Minerals Corporation is a Toronto-based junior gold exploration and
development company with one of the largest portfolios of gold
properties along the prolific, Cadillac Break in Val d'Or, Québec. Agnico Eagle, which is
actively developing the Akasaba West Zone, purchased from
Alexandria, which is likely to
become Quebec's next gold mine.
Further information about Alexandria is available on Alexandria's website or our social media sites
listed below:
Facebook:
https://www.facebook.com/pages/Alexandria-Minerals-Corporation-AZXTSXV/186115074772628
Twitter: https://twitter.com/azxmineralscorp
YouTube: http://www.youtube.com/AlexandriaMinerals
Flickr: http://www.flickr.com/alexandriaminerals/
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 Murgor Resources Inc.