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| | Tue Dec 22, 2009
Lara Exploration Ltd. Completes Acquisition of Maxy Gold Corp.
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| | December 21, 2009 (TSX Venture: MXD) - Maxy Gold Corp. is pleased to report that all of its issued and outstanding shares have been acquired by Lara Exploration Ltd.. Effective today, Maxy became a wholly owned subsidiary of Lara and its shares were delisted from the Exchange. André Gauthier, Maxy's President, has been appointed Lara's President and joined its Board of Directors. Miles Thompson has become Chairman of Lara's Board and will continue as its CEO.
Pursuant to the acquisition, each Maxy share was exchanged for 0.125 Lara shares and Maxy options were exchanged for Lara options on the same ratio. A total of 4,307,731 Lara shares and options to purchase a further 340,000 Lara shares were issued. Lara now has 23,554,232 shares issued and outstanding. A letter of transmittal will be circulated to Maxy Shareholders providing instructions on how to complete the exchange of their shares.
About Lara
Lara is a well-capitalized prospect generator with a multi-commodity exploration portfolio focused in Brazil, Colombia and Peru. Lara's common shares trade on the TSX Venture Exchange under the symbol "LRA" and on the pink sheets under "LRAXF". 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 Previous News Releases item: Tue Dec 15, 2009, Maxy Shareholders approve acquisition by Lara Exploration Ltd
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