Metco Shareholders' Approve Business Combination With Breakwater
12 April 2008 - 5:48AM
Marketwired Canada
Breakwater Resources Ltd. (TSX:BWR) -
Shareholders of Metco Resources Inc. (TSX VENTURE:MKO) have voted overwhelmingly
in favour of a business combination of Metco and Breakwater Resources Ltd.
At the Special Shareholders' Meeting held today a special resolution was passed
approving a business combination of Metco and Breakwater, by way of a Plan of
Arrangement. Of the 107,674,556 votes eligible to be cast, 47,654,060 voted for
the resolution, 417,000 voted against the resolution and no votes abstained.
This acquisition enables Breakwater to consolidate its land position in the
Lebel-sur-Quevillon camp, securing potential feed for the Langlois mill, and to
acquire a large, significantly under-explored land package in the prolific
Matagami camp. Metco shareholders gain exposure to an international mining,
exploration and development company which produces and sells zinc, copper, lead
and gold concentrates to customers around the world. Breakwater's concentrate
production is derived from four mines. Two of Breakwater's mines are located in
Canada, one is located in Chile and one is located in Honduras.
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