Tagish Lake Obtains Shareholder Approval of Plan of Arrangement
December 15 2010 - 1:34PM
Marketwired
Tagish Lake Gold Corp. (the "Company") (TSX VENTURE: TLG) is
pleased to announce that at a special meeting of the Company's
shareholders held today, the Company's shareholders approved the
previously announced plan of arrangement (the "Arrangement")
involving New Pacific Metals Corp. ("New Pacific"). The Company
intends to seek the final court order for the Arrangement at the
Supreme Court of British Columbia on December 16, 2010. The closing
of the Arrangement is expected to occur after the satisfaction
and/or waiver of all conditions precedent to the Arrangement, which
is currently expected to occur on or about December 20, 2010.
New Pacific currently holds approximately 79.2% of the
outstanding common shares of the Company (the "Shares"). The
Arrangement is being proposed in order to allow New Pacific to
acquire the remaining Shares. If the Arrangement is completed, the
Company will become a wholly-owned subsidiary of New Pacific.
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 Lake Gold Corp. Rui Feng President
604-669-9397
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