Tagish Lake Enters Into Agreement With New Pacific for Second-Step Transaction
29 Octobre 2010 - 2:00PM
Marketwired
Tagish Lake Gold Corp. (TSX VENTURE: TLG) (the "Company") announces
today that it has entered into an agreement with New Pacific Metals
Corp. ("New Pacific") to pursue a plan of arrangement (the
"Arrangement") whereby New Pacific would acquire the remaining
issued and outstanding common shares of the Company ("Shares")
which it does not currently hold. The Arrangement is being proposed
in order to allow New Pacific to acquire the Shares that were not
deposited under the recently expired take-over bid by New Pacific
for the Shares. If the Arrangement is completed, the Company will
become a wholly-owned subsidiary of New Pacific.
The Company intends to seek an order from the Supreme Court of
British Columbia (the "Court") authorizing a meeting of the
shareholders of the Company (on a date to be announced) to consider
the approval of the Arrangement.
The Company also intends, subject to the approval of the Court,
to cancel the meeting of the shareholders of the Company which is
scheduled to be held on November 17, 2010. As disclosed in the
October 27, 2010 news release of the Company, the previous
directors of the Company have each resigned and have been replaced
with nominees of New Pacific. Given that the only matter to have
been considered at the November 17, 2010 meeting was the removal
and appointment of the directors, the meeting is no longer
necessary. Shareholders of the Company who have received the notice
of meeting and management information circular in respect of such
meeting are advised to disregard such materials.
The Company also announces that effective October 27, 2010,
Graham Dickson has been removed as President and Chief Executive
Officer of the Company, Sun Feng has been removed as Chairman of
the Company, Graham Scott has been removed as Corporate Secretary
of the Company, and Rui Feng has been appointed as the President of
the Company.
This news release may contain forward-looking statements (within
the meaning of applicable securities laws) relating to the Company.
Forward-looking statements are identified by words such as
"believe", "anticipate", "expect", "intend", "plan", "will", "may"
and other similar expressions. This information involves known and
unknown risks, uncertainties and other factors that may cause
actual results or events to differ materially from those
anticipated in such forward-looking information. Forward-looking
information in this news release includes, without limitation,
statements made in respect of the Arrangement.
All forward-looking statements in this news release are
qualified by these cautionary statements. Forward-looking
statements involve significant risks and uncertainties, should not
be read as guarantees of future performance or results, should not
be unduly relied upon and will not necessarily be accurate
indications of whether or not such results will be achieved.
Forward-looking information is based on various material factors or
assumptions, which are based on information currently available to
the Company. Although the forward-looking statements contained in
this news release are based upon what management believes are
reasonable assumptions, the Company cannot assure readers that
actual results will be consistent with these forward-looking
statements.
The forward-looking statements contained in this news release
are made as of the date of this news release and should not be
relied upon as representing the Company's views as of any date
subsequent to the date of this news release. The Company assumes no
obligation to update or revise these forward-looking statements to
reflect new information, events, circumstances or otherwise, except
as required by applicable law.
Neither 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 or
accuracy of this release.
Contacts: Tagish Gold Lake Corp. Rui Feng President
604-669-9397
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