Wesdome and Windarra announce definitive agreement regarding acquisition

About this update from Wesdome Gold Mines Ltd.

[{"type":"text","content":"\n\n\nTORONTO, July 30, 2013 /CNW/ -  Wesdome Gold Mines Ltd. (\"Wesdome\") (TSX:WDO) and Windarra Minerals Ltd. (\"Windarra\") (TSX-V:WRA) are pleased to announce that they have executed a\n definitive agreement (the \"Agreement\") pursuant to the previously announced letter of intent for the\n proposed acquisition by Wesdome of all of the issued and outstanding\n common shares of Windarra (the \"Windarra Shares\") on the basis of one common share of Wesdome for each ten Windarra\n Shares held (the \"Transaction\").  The Agreement was negotiated at arm's length and is effective as of\n July 29, 2013.\n\n\nDonovan Pollitt, President of Wesdome and John Pallot, President of\n Windarra, stated \"People familiar with the combined assets and the long\n history of both companies are delighted that they have logically come\n together.  It is clearly a win-win deal.\n\n\nThe shareholders will now own 100% of over 24 kilometres of the\n Mishibishu Deformation Zone, over 18 kilometres of the Eagle River\n Deformation Zone and the Eagle River Mill Complex.  Recent success in\n building the new Mishi Mine and its early performance served as a\n catalyst to see the bigger picture.  We now recognize potential for a\n bigger operation here with outstanding exploration and expansion\n potential.\n\n\nWesdome's operating experience in the area involves building two\n underground mines and one open pit mine since it acquired the Eagle\n River property in March, 1994.  From the first gold poured on October\n 17, 1995, to June 30, 2013, it has produced 1.1 million ounces of gold.\n\n\nWindarra's presence in the area dates to 1987.  It was a partner in the\n Magnacon Mine Development, explored actively in the camp and\n importantly hand-picked and consolidated ownership in the best\n potential lands over a long period of time.  This arrangement is\n consistent with Windarra's long-term strategy and vision.\"\n\n\nThe Transaction is expected to be completed by way of a share exchange\n involving Wesdome, Windarra and a wholly-owned subsidiary of Wesdome.\n The Transaction will also be subject to: (i) requisite approval by the\n shareholders of Windarra and the appropriate regulatory bodies; (ii)\n all of the outstanding options and warrants to acquire Windarra Shares\n having been exercised or cancelled;and (i...

More updates from Wesdome Gold Mines Ltd.