Alexandria’s Acquisition of Murgor Clears Quebec Superior Court28 Jan 2015
TORONTO, ONTARIO–(Jan. 28, 2015) – Alexandria Minerals Corporation (TSX VENTURE:AZX)(FRANKFURT:A9D) (“Alexandria”) is pleased to announce that it has been advised by Murgor Resources Inc. (TSX VENTURE:MGR) (“Murgor”) that Murgor has obtained an Interim Order from the Québec Superior Court with respect to the previously-announced Plan of Arrangement with Alexandria, in which Alexandria will acquire all the outstanding shares of Murgor.
As announced in a press release on December 23, 2014, Alexandria will acquire Murgor through an all-share transaction (the “Plan of Arrangement”) in which Murgor shareholders will receive 0.5 of an Alexandria share for each Murgor share, representing a premium of approximately 50% over the market price at the time of the announcement. Following completion of the transaction, current Murgor shareholders will own approximately 25.7% of the outstanding Alexandria shares.
Significantly, the directors and senior officers of Murgor and certain significant shareholders of Murgor, who collectively hold approximately 22.59% of the outstanding Murgor shares, have entered into voting agreements with Alexandria agreeing to support, and vote their Murgor common shares in favour of, the Arrangement.
The Interim Order allows Murgor to proceed to the next step of holding a special meeting of Murgor securityholders to vote on the Plan of Arrangement with Alexandria. This meeting will be held in Montreal on February 24, 2015, with a record date at the close of business on January 19, 2015.
About Alexandria Minerals Corporation
Alexandria Minerals Corporation is a Toronto-based junior gold exploration and development company with one of the largest portfolio of properties along the prolific, gold-producing Cadillac Break in the Val d’Or, Quebec mining district. The Company has built three gold deposits on its flagship Cadillac Break Property in Val d’Or. Agnico-Eagle Mines Ltd., with four producing gold mines in the region, including a Joint Venture on Canada’s largest gold mine, Canadian Malartic, owns roughly 9% of the Company.
WARNING: This News Release may contain forward-looking statements including but not limited to comments regarding the timing and content of up-coming work programs, geological interpretations, receipt of property titles, potential mineral recovery processes, etc. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. Alexandria Minerals Corporation relies upon litigation protection for forward-looking statements.
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Alexandria Minerals Corporation
Vice President, Corporate Development and Investor Relations