Shareholders of Adventure Gold and Superior Court of Québec Approve Arrangement with Probe Metals
Toronto, June 6, 2016 - PROBE METALS INC. ("Probe Metals") (TSX-V:PRB) and ADVENTURE GOLD INC. ("Adventure Gold") (TSX-V:AGE)are pleased to announce that, at the June 3rd special meeting of Adventure Gold, shareholders of Adventure Gold ("Adventure Gold Shareholders") overwhelmingly voted in favour of a special resolution to approve the arrangement pursuant to which Probe will acquire all of the common shares of Adventure Gold by way of a court approved plan of arrangement (the "Arrangement") under the Canada Business Corporations Act. The Arrangement was approved by 99.96% of the Adventure Gold Shareholders on the 69% votes received.
Adventure Gold has also received today the final order approving the Arrangement from the Superior Court of Québec. Closing of the Arrangement is expected to occur on or about June 10, 2016, subject to, among other things, receiving the requisite stock exchange approvals, and the satisfaction of other customary conditions for a transaction of this nature.
Additional information concerning the Arrangement can be found in the management information circular of Adventure Gold dated May 4, 2016, and available under Adventure Gold’s issuer profile on SEDAR at www.sedar.com.
About Probe Metals:
Probe Metals Inc. is a Canadian gold exploration company focused on the acquisition, exploration and development of highly prospective gold properties. Probe Metals was formed as a result of the sale of Probe Mines Limited to Goldcorp on March 13, 2015. Goldcorp currently owns a 17.7% stake in Probe.
On behalf of Probe Metals Inc.,
Dr. David Palmer,
President & Chief Executive Officer
For further information, please contact:
Karen Willoughby, Director of Corporate Communications
Tel: (866) 936-6766
Patrick Langlois, Vice President, Corporate Development
Tel: (416) 777-9470
Cautionary Note Regarding Forward-Looking Information
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This News Release includes certain "forward-looking statements" which are not comprised of historical facts. Forward-looking statements include estimates and statements that describe the Company’s future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as "believes", "anticipates", "expects", "estimates", "may", "could", "would", "will", or "plan". Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to the Company, the Company provides no assurance that actual results will meet management’s expectations. Risks, uncertainties and other factors involved with forward-looking information could cause actual events, results, performance, prospects and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward looking information in this news release includes, but is not limited to, the Company’s objectives, goals or future plans, statements, the completion of the Arrangement (including receipt of all necessary court, stock exchange and regulatory approvals) and the acquisition of all of the outstanding common shares of Adventure Gold. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to failure to satisfy all of the other conditions precedent to the completion of the Arrangement , and those risks set out in the Company’s public documents filed on SEDAR. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, other than as required by law.