Apollo Gold Corporation (TSX: APG) (NYSE Amex: AGT) (“Apollo”) and Linear Gold Corp. (TSX: LRR) (“Linear”) report that their shareholders overwhelmingly approved the business combination (“the Merger”) of the two companies to form Brigus Gold Corp. (“Brigus Gold”) at their respective meetings of shareholders earlier today.

Shareholders of Apollo and Linear demonstrated strong support for the Merger with 96% of Apollo’s shareholder votes cast and 99% of Linear’s shareholder votes cast in favour of the transaction.

The Court of Queen’s Bench of Alberta has granted a final order approving the Merger by way of a plan of arrangement today.

At Apollo’s annual and special meeting of shareholders, shareholders also approved resolutions to (i) to change the combined entity’s name to Brigus Gold (see new logo on Apollo's website), (ii) consolidate every four Apollo shares to one new share of Brigus Gold, (iii) amend the Apollo stock option incentive plan in order to allow for the issuance of replacement options to former Linear option holders.

Following closing of the Merger and on a post-consolidation basis, Linear shareholders will receive approximately 1.37 Brigus Gold shares for every one Linear share. Brigus Gold will have approximately 129 million common shares and 176 million fully diluted shares outstanding on a post-consolidation basis.

The closing of the Merger is expected to occur on June 25, 2010, subject to satisfaction of customary conditions precedent.

Wade K. Dawe, Chief Executive Officer (“CEO”) and President of Linear, who will become CEO and President of Brigus Gold upon closing of the Merger, said, “We thank the shareholders of both Linear and Apollo for their strong support of this Merger and for their confidence going forward. We are excited to launch Brigus Gold as a re-branded Canadian gold company and plan to emerge as Canada’s next mid-tier gold producer. We look forward to continuing increases in gold production from our flagship Black Fox Mine, and will pursue additional growth opportunities through our development pipeline as well as new opportunities.”

R. David Russell, CEO, President and co-founder of Apollo, who will be resigning his positions, said, “It has been my privilege to serve Apollo shareholders and Apollo. On behalf of the Apollo Board of Directors, I thank the shareholders of both companies for their resounding approval of this Merger to begin the next chapter as Brigus Gold. Our combined company has a solid financial and operating foundation, supported by the central pillar of the Black Fox gold mine in the Timmins district in Ontario and further buttressed by development of the Box deposit at the Goldfields Project in Saskatchewan.”

In other business at Apollo’s shareholder meeting, shareholders also approved the re-appointment of auditors, the election of directors and the ratification of the shareholder rights plan.

About Apollo

Apollo is a growing gold producer that operates the wholly owned Black Fox Mine in Ontario, Canada, which commenced gold production in May 2009. Apollo is also exploring the adjoining 100 percent owned Grey Fox and Pike River properties, all in the Township of Black River-Matheson in Ontario, Canada, as well as the Huizopa Joint Venture, (80 percent Apollo and 20 percent Minas De Coronado, S. de R.L. de C.V.), an early stage, gold-silver exploration project, approximately 16 kilometers (10 miles) southwest of Minefinders’ Dolores gold-silver mine, in the Sierra Madres in Chihuahua, Mexico.

About Linear

Linear Gold Corp is a well financed gold exploration and development company committed to maximizing shareholder value through a strategy of mine development, focused exploration, and effective risk management through selective partnerships and acquisitions. The Goldfields property, representing Linear's flagship development property located near Uranium City, Saskatchewan, hosts the Box and Athona gold deposits. Linear also holds an extensive and diverse portfolio of mineral projects in the Dominican Republic and Mexico.

Forward-looking Statements

Certain statements in this press release relating to the proposed Merger are “forward-looking statements” within the meaning of securities legislation. These statements include statements about the closing of the Merger, approvals by the Toronto Stock Exchange and the NYSE Amex, the appointment of Mr. Dawe as CEO and President and the resignation of Mr. Russell. Neither Apollo nor Linear intends, nor assumes any obligation, to update these forward-looking statements, except as required by applicable securities laws. These forward-looking statements represent management's best judgment based on current facts and assumptions that management considers reasonable, including that all third party regulatory and governmental approvals to the Merger will be obtained and all other conditions to completion of the Merger will be satisfied or waived. Neither Apollo nor Linear makes any representation that reasonable business people in possession of the same information would reach the same conclusions. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the companies to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. In particular, fluctuations in the price of gold or in currency markets could prevent the companies from achieving their targets. Other factors are disclosed under the heading “Risk Factors” and elsewhere in documents filed by Apollo and Linear from time to time with the Toronto Stock Exchange, the NYSE Amex Equities Exchange and, on SEDAR and with other regulatory authorities, including the United States Securities and Exchange Commission.

iShares MSCI Argentina a... (AMEX:AGT)
Gráfica de Acción Histórica
De Abr 2024 a May 2024 Haga Click aquí para más Gráficas iShares MSCI Argentina a....
iShares MSCI Argentina a... (AMEX:AGT)
Gráfica de Acción Histórica
De May 2023 a May 2024 Haga Click aquí para más Gráficas iShares MSCI Argentina a....