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Article: Lara Exploration to Acquire Maxy Gold.
- Article from:
- Marketwire Canada
- Article date:
- September 24, 2009
CopyrightCOPYRIGHT 2009 Canadian Corporate News. News Provided by Comtex. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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VANCOUVER, BRITISH COLUMBIA, Sep 24, 2009 (Marketwire via COMTEX) -- Lara Exploration Ltd. (TSX VENTURE:LRA) is pleased to report that it has signed a Letter of Intent ("LOI") with Maxy Gold Corp. (TSX VENTURE:MXD) ("Maxy") respecting the acquisition of Maxy by, or merger of Maxy into, Lara at an exchange ratio of one Lara share for eight Maxy shares. The exchange ratio being offered by Lara represents a premium of 35% to the closing price of Maxy's shares on September 22, 2009. The transaction will involve Lara issuing 4,307,733 shares and, following completion, Lara will have 23,554,234 issued shares of which 4,307,733 shares (18.29%) will be held by the former ...