|
TORONTO, ONTARIO--(Marketwired - May 9, 2013) - Lake Shore Gold Corp. ("Lake Shore Gold" or the "Company") (TSX:LSG)(NYSE Amex:LSG)(NYSE MKT:LSG) has closed its previously announced transaction (see press release of January 30, 2013) with Revolution Resources Corp. ("Revolution"), pursuant to which the Company transferred to Revolution control of a subsidiary holding the Company's Mexican property portfolio, which includes the Universo property and the Montaņa de Oro, La Bufa and Lluvia de Oro properties totalling over 400,000 hectares in two historic mining regions of Mexico, and valued on the Company's financial statements at approximately $2.2 million. In return, the Company has acquired direct ownership of a total of 20,000,000 common shares of Revolution, representing 16.8% of the outstanding shares. Together with shares already held, the Company now owns directly 26,713,740 common shares of Revolution, representing 22.4% of the outstanding shares of Revolution. |
