TSX Venture Exchange Symbol: NWM
TORONTO, July 16, 2015 /CNW/ - NWM Mining Corporation ("NWM" or the "Company") (TSX-V: NWM) announces that at the Company's Annual General and Special Meeting held on July 15, 2015 (the "Meeting"), the shareholders of the Company (the "Shareholders") approved the Company's proposed plan of arrangement under the Business Corporations Act (Ontario) (the "Arrangement") involving GFM Minera S.A.P.I. de C.V. ("GFMM") and one of its affiliates, and the Company's lender, Global Resource Fund, as previously disclosed in the Company's news release dated June 8, 2015. Pursuant to the Arrangement, GFMM will acquire each outstanding common share of NWM for cash consideration of C$0.005.
The Arrangement was approved by approximately 98% of the votes cast at the Meeting and 97% of the votes cast by Shareholders other than Global Resource Fund. NWM would like to thank its Shareholders for their continued support.
Completion of the Arrangement is subject to certain closing conditions, including the receipt of a final order of the Ontario Superior Court of Justice (Commercial List) which the Company will be seeking on July 20, 2015. The Arrangement is expected to close as soon as possible thereafter.
In addition, the following matters were approved at the Meeting:
- The election of Gerald Harper, Darren Koningen, John H. Paterson and Mark Selby as directors of the Company for the ensuing year or until their successors are elected or appointed;
- The appointment of McClurkin Ahier & Company LLP, Chartered Accountants for the ensuing year and the authorization for the directors of the Company to fix their remuneration; and
- The approval of the Company's stock option plan.
About NWM Mining Corporation
NWM is in commercial gold production at its wholly owned Lluvia-Jojoba gold mine. The mine is an open pit leach operation in Sonora State, Mexico.
On Behalf of Management and the Board:
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy of this release.
SOURCE NWM Mining Corporation
For further information: NWM Mining Corporation at (416) 364-6799