Business
Western Copper Provides Update on Proposed Spin-out to Create Three Independent Companies
Information Circular Mailed, Shareholder Vote Scheduled for October 3, 2011 VANCO...
About this update from Western Copper And Gold Corporation
[{"type":"text","content":"\n\n\n\n\n\nInformation Circular Mailed, Shareholder Vote Scheduled for October 3, 2011\n\n\nVANCOUVER, Sept. 7, 2011 /CNW/ - Western Copper Corporation (\"Western\n Copper\" or the \"Company\") (TSX:WRN; NYSE Amex:WRN) is pleased to\n announce that further to the Company's News Release dated August 19, 2011, it has mailed a detailed Information Circular (the \"Circular\")\n describing the business to be conducted at a special meeting of\n shareholders to be held October 3, 2011 with respect to the spin-out of\n certain assets of the Company into two new companies: Copper North\n Mining Corp. (\"Copper North\") and NorthIsle Copper and Gold Inc.\n (\"NorthIsle\") by plan of arrangement (the \"Arrangement\").  Both\n companies to be spun-out were incorporated for the purposes of the\n amended and restated Arrangement Agreement (the \"Agreement\") dated\n August 30, 2011. As previously announced, as part of the Arrangement,\n the Company will change its name from \"Western Copper Corporation\" to\n \"Western Copper and Gold Corporation\".\n\n\nUpon successful completion of the Arrangement, Copper North will hold\n all of the Company's interest in the Carmacks Copper Project located in\n the Yukon Territory, Canada, as well as the Redstone Project located in\n the Northwest Territories, Canada. NorthIsle will hold the Company's\n Island Copper Project located on Northern Vancouver Island, British\n Columbia, Canada. The Company will continue to hold and focus on\n advancing its flagship Casino Project, located in the Yukon Territory,\n Canada.\n\n\nDr. Sally Eyre is to assume the position of President and Chief\n Executive Officer for Copper North. Dr. Eyre has 19 years' experience\n in the global resource sector. Prior to joining Copper North, she\n served as Chief Executive Officer of Etruscan Resources Inc. (now\n Endeavour Mining Corp.), a gold company with assets in West Africa. Dr.\n Eyre has a Ph.D in Economic Geology from the Royal School of Mines,\n Imperial College, London and is a member of the Society of Economic\n Geologists. Dr. Eyre will be responsible for overseeing operations and\n new acquisitions for Copper North.\n\n\nJohn McClintock is to assume the position of President and Chief\n Executive Officer for NorthIsle. Mr. McClintock has over 35 years'\n experience in exploration and acquisitions of gold and b...