Business
Cariboo Rose Resources Completes Plan of Arrangement
(via Thenewswire.ca) Vancouver, BC, November 29, 2011 - Cariboo Rose Resources Ltd. (TSX-V: C...
About this update from Cariboo Rose Resources Ltd.
[{"type":"text","content":"\nCariboo Rose Resources Completes Plan of Arrangement\n\n(via Thenewswire.ca)\n\n \nVancouver, BC, November 29, 2011 - Cariboo Rose Resources Ltd. (TSX-V: CRB) (\"Cariboo Rose\") is pleased to report that it has completed its previously announced plan of arrangement with Consolidated Woodjam Copper Corp. (\"WCC\").\n\n\n \nShareholder and final court approval for the plan of arrangement were obtained on September 30, 2011 and October 6, 2011, respectively and the effective date of the plan of arrangement was November 25, 2011. Refer to the Cariboo Rose Information Circular dated August 26, 2011, for additional information concerning the plan of arrangement.\n\n\n \nThe purpose of the spin-out transaction is to preserve the interests of the shareholders of Cariboo Rose and the shareholders of Fjordland Exploration Inc. (\"Fjordland\") in the Woodjam properties by transferring their respective interests to WCC, a stand-alone corporate entity focused on the exploration and development of the properties. Pursuant to statutory plans of arrangement between Cariboo Rose and WCC and between Fjordland and WCC, the interests of Cariboo Rose and Fjordland have been transferred to WCC, which now holds a 100% interest in the Woodjam project. The Woodjam project is subject to an earn-in option by Gold Fields. This transaction will also facilitate the advancement and recognition of the other mineral exploration projects held by Cariboo Rose and projects held by Fjordland.\n\n\n \nPursuant to the plan of arrangement, a total of 19,999,986 common shares in the capital of WCC have been issued, on a pro-rata basis, to the Cariboo Rose shareholders and a total of 29,999,998 common shares in the capital of WCC have been issued, on a pro-rata basis, to the shareholders of Fjordland.\n\n\n \nWCC is expected to be listed on the TSX Venture Exchange on November 30, 2011, with the trading symbol \"WCC\".\n\n\n \nJ.W. (Bill) Morton, P.Geo.\n\n\n \nPresident and CEO\n\n\n \nCariboo Rose Resources Ltd.\n\n\n \nContact: \nPaul Way, Business Development Manager\n\n\n \nPhone: (604) 681-7913, Toll Free: 888-656-6611; email: [email protected]\n\n\n \nAbout Cariboo Rose Resources Limited\n\n\n \nCariboo Rose Resources is a prospect generating mineral exploration company with four gold, copper and molybdenum exploration projects in British Columbia and the...