Armada Gold Corp. - Shareholders Approve Merger With Nescor Inc.TORONTO--(BUSINESS WIRE)--June 26, 1996--Armada Gold Corp. (Alberta Stock Exchange Alberta Stock Exchange See Canadian Venture Exchange (CDNX). : AAU AAU abbr. Amateur Athletic Union .A ) Armada Gold Corporation held its Annual and Special General Meeting of shareholders on June 21, 1996. The future of Armada is now set as all of the resolutions presented by management for shareholder approval were passed. Key business developments for Armada are the approval of the proposed merger of Armada with Nescor Inc., and the election to the board of directors of several key new members, including Messrs. Robert Friedland Robert Friedland (born 1951) is Deputy Chairman/Director of Ivanhoe Energy and Ivanhoe Mines, Inc.[1][2] He has had mining interests in the Venezuelan Amazon, Siberia, the Rocky Mountains, Zambia and the Atlantic coast of Southern Africa. as Co-Chairman, Adolf Lundin, Marcus Randolph, Edward Randolph, Edward, c.1632–1703, English colonial agent in America. In 1676 he carried royal instructions to Massachusetts Bay that required the colony to send representatives to England to satisfy complaints of the heirs of John Mason (1586–1635) and Sir Mercaldo and Neil Salsich. The new board members will join incumbent board members Messrs. John Hopkins and Derek Fisher Derek Lamar Fisher (born August 9 1974 in Little Rock, Arkansas) is an American professional basketball player with the Los Angeles Lakers. He was with the Utah Jazz but asked to be released from his contract to care for his 10-month-old daughter, who has cancer. . The merger with Nescor Inc. will be by a court-approved Plan of Arrangement, and it was subject to approval by Nescor's shareholders. Nescor shareholder approval was received on June 24, 1996. Nescor shareholders will now elect whether they wish to participate in the merger, and if they elect to participate they will have five years to convert their Nescor shares into Armada shares. Armada will continue after the merger as the resultant parent company. As the present values of Nescor and Armada are approximately equal, Armada's share capitalization will double on completion of the merger. The merger and the valuations of each of Nescor and Armada were the subject of an independent fairness opinion Fairness Opinion A report put together by qualified analysts or advisors providing to key decision makers an evaluation of and facts about a merger or acquisition. Notes: A fairness opinion serves as a document used for guidance in a merger, takeover, or acquisition. by L vesque Beaubien Geoffrion Inc. Subject to the assumptions and limitations set out in that opinion, it was determined that the merger was fair to Armada's shareholders. Armada Gold Corporation is listed on the Alberta Stock Exchange under the symbol AAU.A. U.S. S.E.C. Exemption: 12g3-2(b) 82-3965. The Alberta Stock Exchange has neither approved or disapproved of the contents of this press release. CONTACT: Armada Gold Corporation Ross Orr, 416/777-0001 or Armada Gold Corporation Chris Cory, 416/777-0001 WWW WWW or W3: see World Wide Web. (World Wide Web) The common host name for a Web server. The "www-dot" prefix on Web addresses is widely used to provide a recognizable way of identifying a Web site. : http://www.globalx.net:/armada/ |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion