MOUNTAIN LAKE RESOURCES INC ("MOA")
BULLETIN TYPE: Plan of ArrangementChange in Share type/classification or other attributes, Delist
BULLETIN DATE: July 13, 2012
TSX Venture Tier 2 Company
TSX Venture Exchange Inc. (the "Exchange") has accepted for filing documentation in connection with the arrangement among Marathon Gold Corporation ("Marathon Gold"), Mountain Lake Resources Inc. ("Mountain Lake") and Mountain Lake Minerals Inc. ("Spinco") pursuant to the terms of an arrangement agreement dated May 23, 2012 and a court approved plan of arrangement under the laws of British Columbia (the "Arrangement").
Pursuant to the Arrangement, Marathon Gold has acquired all of the issued and outstanding Mountain Lake common shares (each a "Mountain Lake Share") such that Mountain Lake has become a subsidiary of Marathon Gold. As a result of the Arrangement, Marathon Gold now holds a 100% interest in the Valentine Lake Project in Newfoundland and Labrador. In connection with the Arrangement, Mountain Lake transferred certain other mineral properties and interests to Spinco.
Pursuant to the terms of the Arrangement, shareholders of Mountain Lake received 0.40 of a Marathon Gold common share and 0.40 of a common share in Spinco in exchange for each Mountain Lake Share. Holders of outstanding Mountain Lake stock options had to either exercise their options before the closing of the Arrangement or the options were cancelled. Mountain Lake warrants will be exercisable for Marathon Gold common shares.
The Exchange has been advised that approval of the Arrangement by shareholders of Mountain Lake was received at a special meeting of the shareholders held on June 29, 2012 and that the Supreme Court of British Columbia provided its final order approving the plan of arrangement on July 5, 2012. The full particulars of the Arrangement are set forth in Mountain Lake's Information Circular dated May 29, 2012 which is available under Mountain Lake's profile on SEDAR.
Delist:
In conjunction with the closing of the Arrangement, Mountain Lake has requested that the Mountain Lake Common Shares be delisted. Accordingly, effective at the close of business on Friday, July 13, 2012, the Mountain Lake Common Shares will be delisted from the Exchange.
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