TORONTO, Jan. 19, 2016 /CNW/ - St Andrew Goldfields Ltd. (TSX-SAS) (OTCQX-STADF), ("SAS" or the "Company") announced that its shareholders have today overwhelmingly approved the Plan of Arrangement ("Arrangement") with Kirkland Lake Gold Inc. ("Kirkland Lake Gold"). The special resolution to approve the Arrangement was approved by 98.92% of the shares voted. Under the terms of the Arrangement, shareholders of SAS will be entitled to receive 0.0906 of one common share of Kirkland Lake Gold for each one common share of SAS.
Kirkland Lake Gold has advised that its shareholders have approved the issuance of its shares pursuant to the Arrangement.
Completion of the Plan of Arrangement is subject to receipt of the approval of the Ontario Superior Court of Justice-Commercial List, which will be sought on January 22, 2016. Assuming that the Court's approval is obtained and the other conditions to closing the transaction are satisfied, the transaction is expected to be completed on January 26, 2016.
FORWARD-LOOKING INFORMATION
This news release contains forward-looking information and forward-looking statements (collectively, "forward-looking information") under applicable securities laws, including in respect of obtaining the order of the Ontario Court, the completion of the plan of arrangement and the timing thereof.
This forward-looking information is subject to known and unknown risks, ---- may also be found in the Company's Annual Information Form available on SEDAR at www.sedar.com -
SOURCE St Andrew Goldfields Ltd.
Stock : ST. Andrew Goldfields Ltd. (SAS) Quote : 0.45 0.015 (3.45%) @ 3:59PM
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