Bear Lake Gold Announces Shareholder Approval of Plan of Arrangement
07 May 2014 - 6:00AM
Marketwired
Bear Lake Gold Announces Shareholder Approval of Plan of
Arrangement
LONGUEUIL, QUEBEC--(Marketwired - May 6, 2014) - Bear Lake Gold
Ltd. ("Bear Lake" or the "Company") (TSX-VENTURE:BLG) is pleased to
announce that its shareholders have approved the proposed business
combination of Bear Lake and Kerr Mines Inc. ("Kerr") by way of
plan of arrangement (the "Arrangement") previously announced on
February 26, 2014. There were no dissenting shareholders.
The Arrangement is expected to be completed on or about May 16,
2014 upon satisfaction or waiver of all of the conditions to the
Arrangement set out in the arrangement agreement entered into by
Bear Lake and Kerr and a wholly-owned subsidiary of Kerr ("Kerr
Subco") on February 25, 2014, including approval by the Ontario
Superior Court of Justice at a hearing scheduled for May 14, 2014
and stock exchange approvals. Upon completion of the Arrangement,
Kerr via Kerr Subco will acquire all the outstanding shares of Bear
Lake through the issuance of 1.4 units of Kerr's securities (each
unit comprised of one Kerr common share and one-half common share
purchase warrant, each whole warrant exercisable for 2 years at an
exercise price of $0.16) in exchange for each Bear Lake share.
Following completion of the Arrangement, Bear Lake shares will be
de-listed from the TSX Venture Exchange.
Full details of the terms of the Arrangement are set out in the
Bear Lake's management information circular dated April 4, 2014,
which is available on SEDAR at www.sedar.com. Additional
information about the Company is available on its website at
www.bearlakegold.com and on SEDAR.
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.
David Fennell, Executive
Chairman450-677-1009Info@bearlakegold.comwww.bearlakegold.com
Bear Lake Gold Ltd. (TSXV:BLG)
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