TORONTO, March 21, 2014 /CNW/ - Moss Lake Gold Mines Ltd. ("Moss Lake") (TSXV: MOK) is pleased to announce that its shareholders, at a
special meeting held earlier today, approved its previously announced
three-cornered amalgamation (the "Amalgamation") with Moss Lake's 56.8% shareholder Wesdome Gold Mines Ltd. ("Wesdome") (TSX: WDO).
100% of the votes cast by all shareholders who were present at the
meeting in person or represented by proxy were in favour of the
Amalgamation. Consequently, votes cast by "minority shareholders",
which excluded Wesdome and certain other interested parties, were also
100% in favour of the Amalgamation.
George Mannard, President of Moss Lake, commented: "This creates a
powerhouse junior exploration company with extensive mining and milling
infrastructure in two proven Canadian gold mining camps, growing
profitable production and a 100% owned resource base exceeding 5
million ounces of gold with which to plot our future course. Clearly
the combined entity is greater than the sum of its parts. The
resounding support of shareholders recognizes the potential of the
combined assets and we believe over time the market will come to
realize the value of this unique asset base."
Pursuant to the Amalgamation, Wesdome will, indirectly, acquire all of
the issued and outstanding common shares of Moss Lake which it does not
already own and Moss Lake shareholders will receive one common share of
Wesdome in exchange for every 3.85 common shares of Moss Lake. Further
details regarding the Amalgamation are set out in Moss Lake's Notice of
Special Meeting of Shareholders and Information Circular dated February
14, 2014, a copy of which is available at www.sedar.com under Moss Lake's profile.
Assuming all conditions to the Amalgamation are satisfied or waived, the
Amalgamation is expected to become effective on March 21, 2014 or
shortly thereafter. If the Amalgamation is effected, thereafter the
common shares of Moss Lake will cease to be listed on the TSX Venture
About Moss Lake
Moss Lake, currently a 56.8%-owned subsidiary of Wesdome, was created in
1994 to consolidate ownership of the Moss Lake gold deposit. Moss Lake
trades on the TSXV under the symbol "MOK" and currently has 47 million
common shares issued and outstanding.
Forward Looking Statements
This press release includes certain statements that constitute
"forward‐looking statements" and "forward‐looking information" within
the meaning of applicable securities laws (collectively, "forward‐looking statements"). These statements include statements regarding Moss Lake's intent, or
the beliefs or current expectations of Moss Make's directors and
officers. Such statements are typically identified by words such as
"believe", "anticipate", "estimate", "project", "intend", "expect",
"may", "will", "plan", "should", "would", "contemplate", "possible",
"attempts", "seeks" and similar expressions. Forward‐looking statements
may relate to Moss Lake's future outlook and anticipated events or
By their very nature, forward‐looking statements involve numerous
assumptions, inherent risks and uncertainties, both general and
specific, and the risk that predictions and other forward‐looking
statements will not prove to be accurate. Do not unduly rely on
forward‐looking statements, as a number of important factors, many of
which are beyond Moss Lake's control, could cause actual results to
differ materially from the estimates and intentions expressed in such
forward‐looking statements. These factors include, but are not limited
to the occurrence of any other event, change or circumstance that could
give rise to the termination of the Amalgamation Agreement, or the
delay of consummation of the Amalgamation or failure to complete the
Amalgamation for any other reason.
Forward‐looking statements speak only as of the date those statements
are made. Except as required by applicable law, Moss Lake does not
assume any obligation to update, or to publicly announce the results of
any change to, any forward‐looking statement contained herein to
reflect actual results, future events or developments, changes in
assumptions or changes in other factors affecting the forward‐looking
Neither the TSX, TSXV nor its Regulation Services Provider (as that term
is defined in the policies of the TSXV) accepts responsibility for the
adequacy or accuracy of this press release.
SOURCE: Moss Lake Gold Mines Ltd.
For further information:
Moss Lake Gold Mines Ltd.
8 King Street East, Suite 1305
Toronto, Ontario M5C 1B5
Toll Free: 1-866-4-WDO-TSX
Phone: 416-360-3743, Fax: 416-360-7620
Email: firstname.lastname@example.org, Website: www.mosslakegold.com