TSX Venture Exchange Symbol: NWM
TORONTO, July 16, 2015 /CNW/ - NWM Mining Corporation
("NWM" or the "Company") (TSX-V: NWM) announces that at the
Company's Annual General and Special Meeting held on July 15, 2015 (the "Meeting"), the
shareholders of the Company (the "Shareholders") approved
the Company's proposed plan of arrangement under the Business
Corporations Act (Ontario)
(the "Arrangement") involving GFM Minera S.A.P.I. de C.V.
("GFMM") and one of its affiliates, and the Company's
lender, Global Resource Fund, as previously disclosed in the
Company's news release dated June 8, 2015. Pursuant
to the Arrangement, GFMM will acquire each outstanding common share
of NWM for cash consideration of C$0.005.
The Arrangement was approved by approximately 98% of the votes
cast at the Meeting and 97% of the votes cast by Shareholders other
than Global Resource Fund. NWM would like to thank its
Shareholders for their continued support.
Completion of the Arrangement is subject to certain closing
conditions, including the receipt of a final order of the Ontario
Superior Court of Justice (Commercial List) which the Company will
be seeking on July 20, 2015. The
Arrangement is expected to close as soon as possible
thereafter.
In addition, the following matters were approved at the
Meeting:
- The election of Gerald Harper,
Darren Koningen, John H. Paterson and Mark Selby as directors of the Company for the
ensuing year or until their successors are elected or
appointed;
- The appointment of McClurkin Ahier & Company LLP, Chartered
Accountants for the ensuing year and the authorization for the
directors of the Company to fix their remuneration; and
- The approval of the Company's stock option plan.
About NWM Mining Corporation
NWM is in commercial gold production at its wholly owned
Lluvia-Jojoba gold mine. The mine is an open pit leach
operation in Sonora State, Mexico.
Additional information about NWM can be found on the NWM website
at www.nwmcorp.ca or on SEDAR at www.sedar.com.
On Behalf of Management and the Board:
"Darren
Koningen"
|
"Mark
Selby"
|
Neither the 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 of
this release.
SOURCE NWM Mining Corporation