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| | Tue Dec 15, 2009
Maxy Shareholders approve acquisition by Lara Exploration Ltd
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| | December 15, 2009 (TSX Venture: MXD) -- Maxy Gold Corp. is pleased to report that the acquisition of the Company by Lara Exploration Ltd. under a Plan of Arrangement was approved by 81% of the shares voted at the special meeting of the shareholders of Maxy held on December 14th 2009. An application will be made to the British Columbia Supreme Court on Tuesday, December 15th and to the TSX Venture Exchange shortly thereafter for final approval of the Plan of Arrangement.
The transaction involves Lara issuing 4,307,731 new shares to current Maxy shareholders, resulting in Lara having a total of 23,554,232 issued shares outstanding. Lara is a well-capitalized prospect generator with a multi-commodity exploration portfolio focused in Brazil, Colombia and Peru. The transaction is expected to be effective by the end of the month, at which time Andre Gauthier, current President and CEO of Maxy, will become the President of Lara and Miles F. Thompson, Lara's current President, will become Chairman and CEO.
About Maxy
Maxy is a publicly traded junior exploration company focused on mineral acquisition, exploration and development in China and Peru. Maxy has internationally recognized Management and Exploration teams, with a large diverse network of contacts throughout China and South America.
For further information on Maxy Gold Corp. please consult the website www.maxygoldcorp.com or contact: Andre Gauthier -- President, 604 688-8811.
For further information on Lara Exploration Ltd. please consult our website www.laraexploration.com or contact:
Miles Thompson -- 604-669-8777
Investor Relations:
Julia Maxwell - 604-669-8777
Chris MacIntyre -- 416-640-1932
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. |
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| | You can view the Next News Releases item: Tue Dec 22, 2009, Lara Exploration Ltd. Completes Acquisition of Maxy Gold Corp.
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