its out18 Sep 2009 17:15
DJ Mano River Resources: African Aura Resources Hldrs OKs Merger
LONDON (Dow Jones)--Mano River Resources Inc (MANA.LN) and African Aura Resources Ltd. (AAZ.V) Friday announce that African Aura shareholders approved the previously-announced merger transaction with Mano River at its special meeting of shareholders held Friday. 100% of the votes cast at the meeting were voted in favour of the Transaction.
MAIN FACTS:
-The Transaction is structured as a merger under the corporate laws of the British Virgin Islands.
-In accordance with the combination agreement dated 30 June 2009 between African Aura and Mano River, African Aura will, subject to regulatory approval, merge with MANAAR Limited, a wholly-owned BVI subsidiary of Mano River.
-Mano River will thereby acquire all of the issued and outstanding common shares of African Aura.
-Closing of the Transaction is scheduled to occur on or about October 2, subject to the completion of certain corporate steps and the receipt of certain regulatory approvals.
-On completion of the Transaction, the initial focus of the englarged group will be on creating value by advancing the New Liberty Gold Project towards production and the completion of a 27,000 million resource drilling programme on the Putu Project.
-In parallel, the merged company will continue the cost effective exploration of its portfolio of gold and iron projects in Cameroon.
-Where appropriate, cost and risk sharing joint ventures will b