Business
Completion of Merger, Share Consolidation, Name Change, De-Listing of African Aura Resources Ltd
Completion of Merger, Share Consolidation, Name Change, De-Listing of African Aura Resources Ltd
About this update from Eldorado Gold Corporation
[{"type":"text","content":"\n\n\n\nOct. 14, 2009 (Canada NewsWire Group) -- TORONTO, Oct. 14 /CNW/ -- Mano River Resources Inc. (\"Mano\" or the \"Company\"), the TSX Venture Exchange (\"TSX-V\") and AIM listed exploration to production company focused on gold and iron ore in West Africa, is pleased to announce the completion of its merger with African Aura Resources Limited (\"AAR\", TSX-V:AAZ) (the \"Transaction\").Highlights:- AAR shareholders received 1.57 shares in Mano for each share heldin AAR- Mano consolidated its enlarged issued share capital on a 1 new sharefor 8 existing shares basis- Mano changed its name to African Aura Mining Inc (\"African Aura\")- African Aura to trade on AIM (AAAM) and on TSX-V (AUR)- Having been acquired by Mano, AAR shares have been delisted fromTSX-V- David Netherway (Non-Executive Chairman) and Steven Poulton (Non-Executive Director) appointed to enlarged board of African Aura- Updated company website at www.african-aura.comMerger detailsThe Transaction was structured as a merger under the corporate laws of the British Virgin Islands (\"BVI\"), in accordance with the combination agreement dated 30 June 2009 between AAR and Mano. AAR has merged with MANAAR Limited, a wholly-owned BVI subsidiary of Mano. AAR shareholders received 1.57 shares of Mano for each common share they held in AAR, provided that no fractional shares of Mano were issued.After closing of the Transaction, Mano undertook a 1 for 8 share consolidation (one new post-consolidation share for every 8 pre-consolidation shares) and changed its corporate name to \"African Aura Mining Inc.\". Post merger and post share consolidation African Aura has an issued share capital of 52,884,456 shares on an undiluted and 60,487,568 shares on a fully diluted basis. The shares of African Aura will trade on the TSX-V and AIM markets under the symbols AUR and AAAM, respectively. In connection with the Transaction AAR shares have been delisted from the TSX-V.Post merger strategyAfrican Aura Mining Inc (\"African Aura\") will focus on creating value from its advanced portfolio of gold and iron assets:Liberian assets:- 1.4 million ounce New Liberty gold (NI 43-101, 13.533Mt measured andindicated 3.18 g/t Au)- A pipeline of multiple hard rock gold deposits within truckabledistances of New Liberty- 1.08 Bt at 37.6% iron at Putu, under joint venture with SeverstalResourcesCam...