War Eagle Acquires Andromeda Resources Inc.
(firmenpresse) - VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 02/11/13 -- War Eagle Mining Company Inc. (TSX VENTURE: WAR) ("War Eagle" or the "Company") announced today that it and a wholly owned subsidiary had entered into a definitive agreement (the "Amalgamation Agreement") dated January 23, 2013 with Andromeda Resources Inc. ("Andromeda"). The Amalgamation Agreement was entered into pursuant to a merger agreement between War Eagle and Andromeda announced on January 21, 2013. The wholly-owned War Eagle subsidiary resulting from such amalgamation will carry on the base metals development business of Andromeda in Mexico. The Amalgamation Agreement was approved by the Andromeda shareholders at a meeting on February 4, 2013, by the TSX Venture Exchange ("TSXV") on February 7, 2013 and the amalgamation was effective on February 8, 2013.
The Amalgamation Agreement provides that, among other things, each common share of Andromeda will be exchanged for 0.897 of a War Eagle common share. Completion of the amalgamation will result in the issue by War Eagle of 3,048,287 common shares; no fractional shares will be issued. The resulting share capital of War Eagle will be 15,241,436 common shares of which the shareholders of War Eagle will own approximately 80% and the former shareholders of Andromeda (other than War Eagle) will own the remaining 20%.
About War Eagle
War Eagle Mining Company Inc. is an experienced mineral exploration and development company publicly traded since 1987 and listed on the TSXV under the symbol "WAR". The Company has been in the exploration phase of the Tres Marias zinc-lead-germanium project in Chihuahua, Mexico. Tres Marias is a former producing zinc and germanium mine that first produced ore in 1949.
This news release was prepared by management of War Eagle, which takes full responsibility for its contents.
Neither the 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:
War Eagle Mining Company Inc.
Paul A. Carroll
Executive Chairman
416-369-7217
War Eagle Mining Company Inc.
Donald Padgett
Director
760-485-7678
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Datum: 11.02.2013 - 14:15 Uhr
Sprache: Deutsch
News-ID 228127
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contact information:
Town:
VANCOUVER, BRITISH COLUMBIA
Kategorie:
Mining & Metals
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