Business
Silver Predator enters into definitive agreement to acquire Nevgold Resource Corp.; Receives lock-up agreements for 49% of Nevgold's shares
TSX: SPD www.silverpredator.com VANCOUVER, Dec. 12, 2011 /CNW/ - Silver Predator Corp....
About this update from Silver Predator Corp
[{"type":"text","content":"\n\n\n\n\n\nTSX: SPDwww.silverpredator.com\n\n\nVANCOUVER, Dec. 12, 2011 /CNW/ - Silver Predator Corp. (\"Silver Predator\") (TSX: SPD) and Nevgold Resource Corp. (\"Nevgold\") (TSXV: NDG) are pleased to announce that they have entered into a pre-arrangement\n agreement (the \"Pre-Arrangement Agreement\") pursuant to which Silver Predator will acquire all of the outstanding\n securities of Nevgold (the \"Proposed Transaction\").  A summary of the principal terms of the Proposed Transaction, as\n well as the description of the mineral properties of Silver Predator\n and Nevgold, may be found in the joint news release of Silver Predator\n and Nevgold dated November 15, 2011 and posted on www.sedar.com.  The Pre-Arrangement Agreement may also be found under the SEDAR\n profile of Silver Predator and Nevgold at www.sedar.com.\n\n\nUpon the completion of the Proposed Transaction, Nevgold will be a\n wholly-owned subsidiary of Silver Predator, and the former shareholders\n of Nevgold will own approximately 18.8% of the issued and outstanding\n common shares of Silver Predator.\n\n\nThe Proposed Transaction is to be completed by way of a statutory plan\n of arrangement and is subject to customary closing conditions,\n including approval of (i) 66⅔% of the votes cast by Nevgold\n shareholders, Nevgold optionholders and Nevgold warrantholders, voting\n together as one class, (ii) 66⅔% of the votes cast by Nevgold\n shareholders and (iii) a simple majority of the votes cast by Nevgold\n shareholders (other than Nathan Tewalt and Thomas Chadwick) at a\n special meeting of Nevgold, which is currently anticipated to take\n place on or about February 3, 2012.  A management proxy circular of\n Nevgold with respect to the Proposed Transaction is expected to be\n mailed to Nevgold securityholders on or about January 10, 2012.  The\n Proposed Transaction is also subject to the approval of the Toronto\n Stock Exchange, the TSX Venture Exchange and the British Columbia\n Supreme Court.  Closing of the Proposed Transaction is expected to take\n place shortly following the Nevgold securityholders approving the\n Proposed Transaction and the requisite court approval being obtained. \n It is anticipated that the Proposed Transaction will be completed on or\n about February 13, 2012.\n\n\nNevgold's board ...