Business
Guyana Goldfields Inc. completes acquisition of Aranka Gold Inc.
/NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES AND DOE...
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[{"type":"text","content":"\n\n\n\n/NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S.\nNEWSWIRE SERVICES AND DOES NOT CONSTITUTE AN OFFER OF THE SECURITIES\nDESCRIBED HEREIN/\n\n\nTORONTO, Jan. 28 /CNW/ - Guyana Goldfields Inc. ("Guyana") (TSX: GUY) and\nAranka Gold Inc. ("Aranka") (TSX-V: ARK) are pleased to announce today that\nthe acquisition of Aranka by Guyana has been completed.\n\n\nPursuant to a plan of arrangement completed under the Business\nCorporations Act (Ontario), Aranka is now a wholly owned subsidiary of Guyana.\nThe former shareholders of Aranka received an aggregate of 7,798,017 common\nshares of Guyana (representing approximately 13% of Guyana's outstanding\ncommon shares) in exchange for their Aranka common shares at an exchange basis\nof one common share of Guyana for every 3.25 common shares of Aranka.\nFollowing completion of the arrangement, Guyana has a total of 58,920,160\ncommon shares issued and outstanding. Aranka's common shares will cease to be\nlisted for trading on the TSX Venture Exchange after the close of trading on\nJanuary 28, 2009.\n\n\nIn order to receive Guyana share certificates, former Aranka shareholders\nthat held their Aranka shares registered in their names must complete the\nletter of transmittal which accompanied the Aranka information circular dated\nDecember 19, 2008 and deposit it, together with their Aranka shares\ncertificates, with Equity Transfer and Trust Company. Complete instructions\nare set out in the information circular and the letter of transmittal. The\ninformation circular and a copy of the letter of transmittal are available on\nAranka's SEDAR profile at www.sedar.com. Former Aranka shareholders who held\ntheir Aranka shares through intermediary banks or brokerage houses should\ncontact their bank or broker to determine what action, if any, they need to\ntake to receive their Guyana share certificates.\n\n\nIn connection with the acquisition of Aranka, Richard Williams has been\nappointed as a director of Guyana, replacing Robert Cudney who has resigned as\na director of Guyana.\n\n\nAs a result of the arrangement, Mr. Patrick Sheridan, who is the\nPresident and Chief Executive officer of both companies, acquired an\nadditional 1,793,225 common shares of Guyana and now owns or controls,\ndirectly or indirectly, an aggregate of 6,065,803 common sha...