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.
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
For further information:
FIRST URANIUM COPRORATION
ALGOLD RESOURCES LTD.
President and CEO
(514) 889 5089