White Tiger Gold and Century Mining Proposed Business Combination Approved by the Ontario Superior Court of Justice (ccnm)
TORONTO, ONTARIO–(Marketwire – Sept. 26, 2011) - White Tiger Gold Ltd. ("White Tiger") (TSX:WTG) and Century Mining Corporation ("Century") (TSX VENTURE:CMM) jointly announce that Century has obtained a final order of the Ontario Superior Court of Justice – Commercial List (the "Court") in respect of an application to the Court by Century seeking final approval by the Court of the proposed business combination whereby White Tiger and Century will combine under a plan of arrangement (the "Business Combination") resulting in Century becoming an indirect subsidiary of White Tiger.
The Business Combination was approved at the special meetings of each of White Tiger and Century shareholders held on September 13, 2011.
"This approval enables the combined company to expand and leverage its current portfolio of projects with the goal of building a mid-tier gold production company," said Daniel Major, President and Chief Executive Officer of Century.
Completion of the Business Combination remains subject to approval under the Investment Canada Act which is expected by mid-October and final approval of the Toronto Stock Exchange and the TSX Venture Exchange.
About Century Mining Corporation
Century Mining Corporation is a Canadian gold producer and holds strategic land positions in Canada, the United States and Peru. The Company's strategy is to grow to its gold production through existing mine expansions and acquisitions of other strategic and synergistic gold opportunities.
About White Tiger Gold
The Company is a TSX-listed mining and exploration company, focused on the development of mineral resources in the Russian Federation. The Company currently operates the Savkino heap leach gold operation located in southeastern Siberia. Plans are underway to expand gold production at Savkino and to develop a second gold-copper mine at the Company´s Nasedkino property situated in Chita Region in southeast Siberia. In addition to Ildikan, Nasedkino/Uryum and Pridneprov, the Company also holds gold exploration licences in Zolin-Arkinsk and Takhtamygda which are prospective geological environments in south central Siberia.
12:27 pm
Completion of the Business Combination remains subject to approval under the Investment Canada Act which is expected by mid-October and final approval of the Toronto Stock Exchange and the TSX Venture Exchange.
Are Investment Canada, TSX and TSX-V rubber stampers or should we go after these organizations?
1:00 pm
April 4, 2011
FREDERICTON, the TSX & TSX-V are probably "rubber-stampers", but Invetment Canada may not be (although the Court was supposedly acting on behalf of Industry Canada). Ms Valerie Crapentier (as Director of Compliance Branch, Industry Canada) is specifically mentioned in the MIC, in Annex E. So, telling her that the Court failed to consider the violations (especially huge conflicts of interest by BoD members of CMM, and not carrying out their fiduciary obligations to all shareholders, etc) of the Canada Business Corporations Act may be a good idea.
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