update MOA.V and MOZ.V
Mountain Lake Resources Inc
Symbol C : MOA
Shares Issued 50,497,974
Close 2012-06-27 C$ 0.345
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Mountain Lake shareholders approve takeover by Marathon
2012-06-29 14:43 ET - News Release
SHAREHOLDERS APPROVE ARRANGEMENT BETWEEN MOUNTAIN LAKE AND MARATHON GOLD
Mountain Lake Resources Inc.'s shareholders have voted overwhelmingly in favour of the previously announced arrangement (see news release of May 24, 2012, on the company's website) whereby Marathon Gold Corp. will acquire all of the outstanding common shares of Mountain Lake to consolidate Mountain Lake's and Marathon's respective 50-per-cent interests in the Valentine Gold Lake project, resulting in Marathon becoming the 100-per-cent owner of the project.
Mountain Lake's remaining projects will be transferred to Mountain Lake Minerals Inc. ("Spinco"), a newly incorporated exploration company.
At today's special meeting, Mountain Lake's common shareholders voted 99.9% in favour of the resolution to approve the Arrangement. In addition, Mountain Lake's common shareholders voted 78.3% in favour of the Spinco 10% rolling stock option plan.
Marathon has also advised Mountain Lake that Marathon's shareholders voted 99.9% in favour of their resolution to approve the share issuance for the Arrangement at their annual and special meeting held today.
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