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European Uranium Resources Ltd. and Portex Minerals Inc. Provide Update on Merger
European Uranium Resources Ltd. and Portex Minerals Inc. Provide Update on Merger Vancouver...
About this update from Azarga Metals Corp.
[{"type":"text","content":"European Uranium Resources Ltd. and Portex Minerals Inc. Provide Update on MergerEuropean Uranium Resources Ltd. and Portex Minerals Inc. Provide Update on Merger\n\nVancouver, British Columbia CANADA, January 21, 2014 /FSC/ - European Uranium Resources Ltd. (EUU - TSX Venture, EUUNF - OTCQX, TGPN - FWB),(\"EUU\") and Portex Minerals Inc. (\"PAX\") (CNSX: PAX) provide an update on the status of the merger which was the subject of their joint December 23, 2013 news release (the \"Merger\").   \n\nThe Merger will be effected through a plan of arrangement under which EUU will acquire all of the outstanding common shares of PAX in exchange for EUU common shares.  The merged company will be named European Minerals Inc. (the \"merged company\") and will be a Europe-focused company with a diverse, multi-commodity portfolio of exciting exploration and development projects.  Further details are contained in the December 23, 2013 news release.\n\nAs set out in the December 23, 2013 release, the parties have each announced financings (the \"GRIT Financings\") of $1.25 million and $2.4 million, respectively, from Global Resources Investment Limited.  Closing of the each of the GRIT Financings is subject to a number of conditions precedent, including approval of the TSX Venture Exchange (in the case of EUU), and GRIT successfully listing on the London Stock Exchange (the \"LSE\").  The parties have been advised that GRIT's LSE listing has been delayed and the closing of the GRIT financing is now expected to take place in early February, 2014.\n\nIn contemplation of preparing the information circulars which are to be provided to the shareholders of each of EUU and PAX in connection with the approval of the Merger, the principals of EUU and PAX have been in discussions respecting the proposed business activities of the merged company following completion of the GRIT Financings and the Merger.  No dates for the shareholder meetings have yet been set, and the parties will advise when these dates have been determined.   \n\nAbout European Uranium Resources Ltd.\n\nEuropean Uranium Resources Ltd. is a dedicated European uranium exploration and development company that has built a portfolio of outstanding projects in Slovakia.  European Uranium is well placed to become ...