|
|
Article: Maxy Gold Corp.: Press Release.
- 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)
|
VANCOUVER, BRITISH COLUMBIA, Sep 24, 2009 (Marketwire via COMTEX) -- MAXY GOLD CORP. (TSX VENTURE:MXD) is pleased to report that it has signed a Letter of Intent ("LOI") with the Tier 1 TSX Venture Exchange listed company, Lara Exploration Ltd. (LRA, "Lara"), respecting the merger of Maxy into, or acquisition of Maxy by, Lara at an exchange ratio of one Lara share for eight Maxy shares. With Lara's shares closing at $0.70, 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 to Maxy shareholders, so that, following completion, Lara will ...