RX Gold receives shareholder approval for combination of RX Gold and US Silver
04 August 2012 - 11:19AM
PR Newswire (Canada)
TORONTO, Aug. 7, 2012 /CNW/ - RX Gold & Silver Inc. ("RX Gold"
or the "Company") is pleased to announce that the shareholders of
RX Gold approved the combination of RX Gold and U.S. Silver
Corporation ("US Silver") at the meeting of RX Gold shareholders
held today. In addition, the shareholders of US Silver
approved the combination transaction at the meeting of US Silver
shareholders held today. RX Gold will seek approval of the plan of
arrangement implementing the combination transaction from the
Ontario Superior Court of Justice on August 9, 2012. Subject
to receipt of Court approval and the satisfaction of other
customary conditions, the combination transaction is expected to
close on or about August 13, 2012. About RX Gold & Silver Inc.
RX Gold is a gold and silver mining company focused on growth in
North America. Currently RX Gold is concentrating on continuing
mining under its current permits and expanding development at its
100%-owned Drumlummon Mine. The Drumlummon Mine is a bonanza
style low sulphidation epithermal gold and silver deposit with
historic production of approximately one million ounces of gold
equivalent. The mine has never been fully exploited or explored and
material that was once considered waste is now potentially
economic. In addition, RX Gold has discovered a series of entirely
new high-grade gold and silver veins that remain open for expansion
in three directions. Cautionary Statement Regarding Forward-Looking
Information This news release contains "forward-looking
information" within the meaning of applicable securities laws.
Forward-looking information includes, but is not limited to,
the Company's expectations intentions, plans, and beliefs with
respect to, among other things, the combination of RX Gold and US
Silver. Often, but not always, forward-looking information can be
identified by forward-looking words such as "anticipate",
"believe", "expect", "goal", "plan", "intend", "estimate", "may",
and "will" or similar words suggesting future outcomes, or other
expectations, beliefs, plans, objectives, assumptions, intentions,
or statements about future events or performance. Forward-looking
information is based on the opinions and estimates of the Company
as of the date such information is provided and is subject to known
and unknown risks, uncertainties, and other factors that may cause
the actual results, level of activity, performance, or achievements
of the Company or its successors to be materially different from
those expressed or implied by such forward looking information.
This includes risks associated with the combination of RX Gold and
US Silver. Although RX Gold has attempted to identify important
factors that could cause actual results to differ materially from
those contained in forward-looking information, there may be other
factors that cause results not to be as anticipated, estimated, or
intended. Readers are cautioned not to place undue reliance on such
information. By its nature, forward-looking information involves
numerous assumptions, inherent risks and uncertainties, both
general and specific, that contribute to the possibility that the
predictions, forecasts, and projections of various future events
will not occur. The Company undertakes no obligation to update
publicly or otherwise revise any forward-looking information
whether as a result of new information, future events or other such
factors which affect this information, except as required by law
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of
this release. RX Gold & Silver Inc. CONTACT: Darren
BlasuttiPresident and Chief Executive OfficerNicole RichardInvestor
Relations(416) 848-9503inbox@rxgold.com (www.rxgold.com)
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