Orko Shareholders Approve Arrangement with Coeur
April 10 2013 - 1:17PM
Business Wire
Orko Silver Corp. ("Orko") (TSX-V: OK) (Frankfurt: OG3) (OTCUS:
OKOFF) and Coeur d'Alene Mines Corporation ("Coeur") (NYSE: CDE)
(TSX:CDM) are pleased to announce the positive results of the Orko
shareholder vote to approve the previously announced plan of
arrangement (the "Arrangement") whereby Coeur will acquire all
of the issued and outstanding common shares of Orko (the "Orko
Shares").
99.72% of the Orko Shares represented at Orko's special
shareholders' meeting held earlier today were voted in favor of the
special resolution approving the Arrangement.
Orko will apply for a final order of the Supreme Court of
British Columbia approving the Arrangement on Friday, April 12,
2013 and, assuming receipt of court approval and the satisfaction
or waiver of all remaining closing conditions, Orko and Coeur
expect the Arrangement to be effective on or about April 16,
2013.
Gary Cope, Orko's President and CEO, said, "We are extremely
pleased to have received such overwhelmingly positive shareholder
support for the Arrangement. The combination with Coeur will allow
our shareholders to participate in a company with geographically
diverse projects and robust growth prospects while retaining upside
related to La Preciosa. We look forward to a smooth
transition."
Mitchell J. Krebs, Coeur's President and CEO, said, "We look
forward to leveraging Coeur’s financial and operational resources
to realize the true value of Orko’s La Preciosa project. As a
combined company, we will have enhanced asset and geographic
portfolio diversification and robust growth prospects for our
combined shareholder base."
Orko shareholders with questions regarding the deposit of Orko
Shares to the Arrangement can contact Kingsdale Shareholder
Services Inc. toll free in North America at (888) 518-6812 or call
collect outside North America at (416) 867-2272 or by email at
contactus@kingsdaleshareholder.com.
About Orko
Orko Silver Corp. is developing one of the world's largest
undeveloped primary silver deposits, La Preciosa, located near the
city of Durango, in the State of Durango, Mexico.
About Coeur
Coeur d'Alene Mines Corporation is the largest U.S.-based
primary silver producer and a growing gold producer. The Company
has four precious metals mines in the Americas generating strong
production, sales and cash flow in continued robust metals markets.
Coeur produces from its wholly owned operations: the Palmarejo
silver-gold mine in Mexico, the San Bartolomé silver mine in
Bolivia, the Rochester silver-gold mine in Nevada and the
Kensington gold mine in Alaska. The Company also owns a
non-operating interest in a mine in Australia, and conducts ongoing
exploration activities in Mexico, Argentina, Nevada, Alaska and
Bolivia.
Special Note Regarding Forward Looking Statements
This News Release may contain forward-looking statements,
including but not limited to comments regarding the completion of
the transactions contemplated herein and the ability to realize the
potential economic benefits of the La Preciosa Project.
Forward-looking statements address future events and conditions and
therefore involve inherent risks and uncertainties. Actual results
may differ materially from those currently anticipated in such
statements and Orko and Coeur undertake no obligation to update
such statements, except as required by law. 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.
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