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| Home : Teranga and Oromin Announce Plan of Arrangement Transaction |
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Aug 28
2013 |
Teranga and Oromin Announce Plan of Arrangement Transaction |
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TORONTO, ONTARIO and VANCOUVER, BRITISH COLUMBIA--(Marketwired - Aug. 27, 2013) - Teranga Gold Corporation ("Teranga") (TSX:TGZ)(ASX:TGZ) and Oromin Explorations Ltd. ("Oromin") (TSX:OLE)(OTCBB:OLEPF) today announced that they have entered into an arrangement agreement (the "Arrangement Agreement") for Teranga to acquire the remaining outstanding common shares of Oromin (the "Oromin Shares") by way of a plan of arrangement (the "Arrangement") under the B.C. Business Corporations Act. Under the Arrangement, shareholders of Oromin ("Shareholders") would receive the same consideration of 0.60 of a common share of Teranga for each Oromin Share as was offered under Teranga's prior offer that was completed on August 6, 2013. |
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| Source:http://www.marketwire.com/mw/release.do?id=1825056&sourceType=3 |
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