MONTREAL AND
TORONTO, Dec. 19, 2013 /CNW/ - Algold Resources Ltd.
("Algold") (TSXV:ALG) and First Uranium Corporation ("FIU")(NEX:
FIU.H) (JSE: FUU) are pleased to announce that Algold completed the
previously announced plan of arrangement (the "Arrangement")
between FIU and Algold and effective today, Algold has acquired all
of the issued and outstanding units ("FIU Units") of FIU.
FIU shareholders will receive 0.0729849 of an
Algold share for each FIU Unit held. In addition, for every
full Algold share issued to an FIU shareholder, such holder will
receive ½ of one Algold common share purchase warrant (the "Algold
Warrants"). Each full Algold Warrant entitles the holder
thereof to purchase one Algold share at a price of $0.20 per Algold share at any time for a period
of eighteen months following the issuance of the Algold
Warrants.
For more information on the Arrangement, please
refer to the joint press release of Algold and FIU issued on
October 29, 2013.
ABOUT ALGOLD
Algold Resources Ltd. is focused on the
exploration and development of gold deposits in West Africa. The board of directors and
management team are seasoned resource industry professionals with
extensive experience in the exploration and development of
world-class gold projects in Africa.
SOURCE First Uranium Corporation