Aurora Platinum Shareholders and Court Approve Plan of Arrangement.VANCOUVER, British Columbia British Columbia, province (2001 pop. 3,907,738), 366,255 sq mi (948,600 sq km), including 6,976 sq mi (18,068 sq km) of water surface, W Canada. Geography -- Aurora Platinum Corp. (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension VENTURE:ARP) ("Aurora") and FNX Mining FNX Mining Company Inc. TSX: FNX is a Toronto, Ontario based company that produces and explores for nickel, copper, platinum, palladium, gold and cobalt in the Sudbury Basin, Ontario, Canada. Company Inc. ("FNX") are pleased to report that the previously announced acquisition of Aurora by FNX by plan of arrangement received approval at the annual and special meeting of shareholders of Aurora on June 20, 2005 and by the Supreme Court of British Columbia The Supreme Court of British Columbia (SCBC) is the superior trial court for the Canadian province of British Columbia. The SCBC hears civil and criminal law cases as well as appeals from the Provincial Court of British Columbia. on June 22, 2005. Holders of common shares of Aurora voted 83% in favour of the arrangement resolution and there were no dissenting shareholders. The transaction is expected to close as of July 1, 2005 and is subject to customary closing conditions. As the share exchange ratio has now been set at approximately 0.1918 common shares of FNX for each common share of Aurora, on completion of the transaction, FNX will issue approximately 4,270,803 common shares to acquire all of the 22,266,414 issued and outstanding shares of Aurora. Aurora shareholders will receive a letter of transmittal Letter of Transmittal A document used by security holder to accompany certificates surrendered in an exchange or other corporate action. providing instructions on how to exchange their shares pursuant to the arrangement. FNX has agreed to transfer to Dynatec Corporation ("Dynatec") an indirect 50% interest in Aurora immediately following the acquisition in exchange for 7,716,594 common shares of Dynatec and $12,246,528 in cash. Forward-looking Statement forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. This press release contains certain forward-looking statements. These forward-looking statements are subject to a variety of risks and uncertainties beyond the company's ability to control or predict, which could cause actual events or results to differ materially from those anticipated in such forward-looking statements. In this news release, predictions about the Plan of Arrangement being approved and finalized are forward-looking statements. Accordingly, readers should not place undue reliance on forward-looking statements. The TSX Venture Exchange TSX Venture Exchange Originally called the Canadian Venture Exchange (CDNX), this was a result of the merger of the Vancouver and Alberta stock exchanges. The goal of TSX Venture Exchange is to provide venture companies with effective access to capital while protecting investors. does not accept responsibility for the adequacy or accuracy of this release. Aurora Platinum Corp. (TSX VENTURE:ARP) |
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