Duran Ventures and MacMillan Gold Arrangement Approved by Shareholders and by the Court
16 Ottobre 2008 - 7:21PM
Marketwired
George A. Brown, CEO of both Duran Ventures Inc. (TSX VENTURE: DRV)
and MacMillan Gold Corp. (TSX VENTURE: MMG), is pleased to provide
the following update on the Arrangement as fully described in the
Joint Information Circular dated September 12, 2008 as filed on
SEDAR.
At a Special Meeting of shareholders of MacMillan Gold Corp.
(TSX VENTURE: MMG) held on October 14, 2008, shareholders approved
by over 99% two special resolutions. The first was to continue
MacMillan Gold under the Business Corporations Act (Alberta). This
was applied for immediately after the vote and a Certificate of
Continuance was issued on October 14, 2008. The second was to
authorize the completion of the Arrangement as described in the
Joint Information Circular. All steps to this process are expected
to be completed by October 31, 2008 and are described below.
MacMillan Minerals Inc. is preparing a prospectus filing for
submission to the Ontario Securities Commission in early November
to become a reporting issuer. This submission cannot be made until
the Arrangement described below is completed by October 31, 2008.
The clearing of the prospectus will result in a listing application
by MacMillan Minerals Inc. on the TSX Venture.
At a Special Meeting of shareholders of Duran Ventures Inc. (TSX
VENTURE: DRV) also held on October 14, 2008, shareholders approved
four special resolutions in addition to electing the directors and
appointing the auditors. A shareholder rights plan was approved
which will be put into place later this month. The continuance of
the existing 10% rolling stock option plan was approved. The
application for continuing the plan was delivered to the TSX
Venture on October 16, 2008. Shareholders approved the continuance
of Duran under the Canada Business Corporations Act. Application
for continuance is being prepared to be submitted today in B.C. The
fourth was to authorize the completion of the Arrangement as
described in the Joint Information Circular. All steps to this
process are expected to be completed by October 31, 2008 and are
described below.
The Arrangement is subject to Court approval and TSX Venture
final approval. The Final Order of the Court was issued on October
15, 2008 as scheduled. The Court has approved completion of the
Arrangement on or by Friday October 31, 2008. The TSX Venture has
provided conditional approval and final approval requires that the
companies first complete the Transfer Agreement of properties and
assets from MacMillan Gold to MacMillan Minerals Inc., the issue of
MacMillan Minerals shares to MacMillan Gold shareholders, the
amalgamation of MacMillan Gold with Duran Resources ULC, and the
issue of Duran shares to MacMillan Gold shareholders. All of the
above are scheduled to occur on or by October 31, 2008 as per the
Final Order of the Court. We have requested that the last day of
trading of MacMillan Gold Corp. be at the end of trading on Friday
October 24, 2008. The record date for MacMillan Gold shareholders
to receive shares of MacMillan Minerals and Duran Ventures will
therefore be October 29, 2008 allowing for the three days
settlement after October 24 trades.
We anxiously look forward to a bright future for Duran Ventures
Inc. with 100% ownership of the Peru properties in one company with
no underlying royalties and the new listing of MacMillan Minerals
Inc. which will continue to explore for precious minerals in Mexico
on over thirty properties of geological merit.
Investors are invited to visit the MacMillan Gold IR Hub at
www.agoracom.com/IR/MacMillan where they can post questions and
receive answers or review existing questions and answers. Investors
may also email questions or request to be added to the investor
email list at MMG@agoracom.com
Duran Ventures Inc. and MacMillan Gold Corp .are Canadian
resource companies
listed on the TSX Venture Exchanges: Symbols "DRV" &
"MMG"
The TSX Venture Exchange has not reviewed and accepts no
responsibility for the adequacy or accuracy of this news
release
Contacts: Duran Ventures Inc. George A. Brown CEO (416) 867-1101
(416) 867-1222 (FAX) Email: duranventures@ca.inter.net Website:
www.duranventuresinc.com MacMillan Gold Corp. George A. Brown CEO
(416) 867-1101 (416) 867-1222 (FAX) Email:
macmillangold@ca.inter.net Website: www.macmillangold.com
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