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LPT Capital Ltd. And Lincoln Gold Corporation Announce Completion of First Steps of Merger and Engagement of M Partners of Toronto to act as Exclusive Agent for Concurrent Private Placement
LPT Capital Ltd. And Lincoln Gold Corporation Announce Completion of First Steps of Merger and En...
About this update from Lincoln Gold Mining Inc
[{"type":"text","content":"LPT Capital Ltd. And Lincoln Gold Corporation Announce Completion of First Steps of Merger and Engagement of M Partners of Toronto to act as Exclusive Agent for Concurrent Private Placement\n\n\n\nLPT Capital Ltd. And Lincoln Gold Corporation Announce Completion of First Steps of Merger and Engagement of M Partners of Toronto to act as Exclusive Agent for Concurrent Private Placement\n\nNot for Distribution to U.S. News Wire Services or for Dissemination in the United States\n\nVancouver, British Columbia CANADA, March 31, 2009 /FSC/ - LPT Capital Ltd. (LPC.P - TSX Venture), (\"LPT\"), a capital pool company and Lincoln Gold Corp. (\"Lincoln\") (OTCBB: LGCPF) are pleased to announce that the first steps in the Plan of Arrangement to combine the businesses of the two companies and become trading or quoted on both the TSX-V and OTC:BB have been completed. The transaction is intended to be LPT's \"Qualifying Transaction\" under TSX-V Policy 2.4 as reported in the joint news release of October 10, 2008. Please refer to Lincoln and LPT's joint information circular dated January 19, 2009 (the \"Circular\"), available on the SEDAR website, for further details of the transaction.\n \nShareholders of Lincoln have overwhelmingly approved the merger by way of a Plan of Arrangement and the shareholders of LPT approved the consolidation of LPT's shares on a 1-for-1.5 basis (the \"Consolidation\") as part of the transaction. The Supreme Court of British Columbia issued its final order approving the Plan of Arrangement on February 20, 2009. Pursuant to the Plan of Arrangement, at the closing Lincoln will merge with a wholly-owned subsidiary of LPT and the then outstanding shares of Lincoln will be exchanged for approximately 23,000,000 post-Consolidation shares of LPT.\n \nThe only remaining significant step in completing the transaction is to raise the funding necessary to carry Lincoln's business plan forward as set forth in the Circular. In this regard, Lincoln and LPT are pleased to announce that LPT has engaged M Partners Inc. of Toronto to act as exclusive lead agent in a best efforts private placement to raise gross proceeds of up to $4.5 million CDN through an offering of units (\"Units\") of LPT. The closing of the offering will occur in conjuncti...