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Balmoral Resources Ltd. Announces Receipt of Interim Court Order with Respect to Proposed Acquisition by Wallbridge Mining Company Limited
Balmoral Resources Ltd. Announces Receipt of Interim Court Order with Respect to Proposed ...
About this update from Wallbridge Mining Co. Ltd.
[{"type":"text","content":"\n\n\n\nBalmoral Resources Ltd. Announces Receipt of Interim Court Order with Respect to Proposed Acquisition by Wallbridge Mining Company Limited\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\n\nCanada NewsWire\nVANCOUVER, March 24, 2020\n\n\n\nVANCOUVER, March 24, 2020 /CNW/ -  Wallbridge Mining Company Limited (TSX:WM) (\"Wallbridge\") and Balmoral Resources Ltd. (TSX:BAR; OTCQX:BALMF) (\"Balmoral\") (collectively the \"Parties\") announced that Balmoral has been granted an interim order by the Supreme Court of British Columbia (the \"Interim Order\") in connection with the previously announced (see NR20-04, March, 2, 2020) business combination between the Parties. The Interim Order authorizes Balmoral to proceed with various matters, including the holding of a special meeting of Balmoral securityholders to consider and vote on the proposed Plan of Arrangement (the \"Proposed Transaction\") whereby Wallbridge proposes to acquire all of the issued and outstanding common shares of Balmoral.\n\n \n \n \n \n \n \n\n \nThe Proposed Transaction\nOn March 2, 2020 the Parties entered into a definitive arrangement agreement (the \"Arrangement Agreement\") whereby, subject to the terms and conditions of the Arrangement Agreement, Wallbridge will acquire all of the Balmoral common shares on the basis of 0.71 of a Wallbridge common share for each Balmoral common share.\nBenefits of the Transaction\nThe Proposed Transaction will result in one of the best financed junior exploration and development companies in Canada. It will combine the gold and nickel assets of the two companies, including the Parties' highly prospective district scale gold exploration and development projects in Quebec along the Detour Gold Trend, under one management team to more efficiently move them forward.  Further information on the benefits to the Wallbridge and Balmoral shareholders can be found in the joint press release dated March 2, 2020 filed on each of the Parties' respective SEDAR profiles – www.sedar.ca and websites.\nBalmoral Special Meeting\nThe speci...