Murgor Resources obtains interim order for plan of arrangement with Alexandria Minerals Corporation

- Special meeting of Murgor securityholders to be held on February 24, 2015
- Murgor and Alexandria Minerals Corp. proceeding with Plan of Arrangement

KINGSTON, ON, Jan. 27, 2015 /CNW/ - Murgor Resources Inc. (TSX-V: MGR) is pleased to announce that it today obtained an interim order from the Québec Superior Court with respect to Murgor's previously-announced Plan of Arrangement with Alexandria Minerals Corp. (TSX-V: AZX; Frankfurt: A9D). The Plan of Arrangement provides that holders of Murgor common shares (other than Alexandria and Murgor shareholders validly exercising dissent rights) will receive 0.50 of an Alexandria common share in exchange for each Murgor common share and holders of Murgor stock options who do not exercise such options prior to the effective time of the Arrangement will receive stock options of Alexandria (the "Replacement Alexandria Options") entitling the holder thereof to acquire 0.50 of an Alexandria common share for each Murgor common share the holder would have otherwise been entitled to acquire. The Replacement Alexandria Options will have an exercise price of $0.12 and will expire on the earlier of the expiration date of the Murgor stock options and twelve months following the effective date of the Arrangement.

The interim order, among other things, authorizes Murgor to call and hold a special meeting of Murgor securityholders to consider the Plan of Arrangement with Alexandria. In accordance with the interim order, the special meeting of securityholders will be held in Montreal on February 24, 2015, with a record date at the close of business on January 19, 2015.

In connection with the special meeting, Murgor expects to mail a detailed management information circular to Murgor securityholders on or about January 28, 2015. The circular will include the unanimous recommendation of Murgor's Board that Murgor securityholders vote for the Arrangement with Alexandria. The circular will also be available on SEDAR under Murgor's profile at www.sedar.com.

Murgor also announces that two additional Murgor shareholders, collectively holding approximately 12.48% of Murgor's outstanding shares, have agreed pursuant to a support and voting agreement to support, and vote in favour of, the Arrangement. As of today, each of the directors and senior officers of Murgor and certain other Murgor shareholders (including the two additional shareholders referred to above) who hold, in the aggregate, approximately 22.59% of the outstanding Murgor common shares and 67.09% of the outstanding Murgor stock options, have entered into voting agreements with Alexandria agreeing to support, and vote their Murgor common shares and Murgor stock options, if applicable, in favour of, the Arrangement, subject to certain exceptions.


Forward-Looking Statements

This press release contains forward-looking statements relating to the Arrangement. Statements based on the current expectations of Murgor's management contain known and unknown inherent risks and uncertainties and no assurance can be given that potential future results or circumstances will be achieved or will occur. In particular, the timing and completion of the proposed Arrangement are subject to certain conditions, termination rights and other risks and uncertainties. Accordingly, there can be no assurance that the proposed Arrangement will occur, or that it will occur on the timetable or on the terms and conditions contemplated. The reader should not place undue faith on forward-looking information. Management disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or circumstances.


About Murgor Resources

Murgor Resources Inc. is a mineral exploration and development company focused on gold and copper exploration in Canada. Murgor owns a 100% interest in two gold-copper deposits in the Snow Lake and Flin Flon mining districts of Manitoba. Murgor further owns a portfolio of high-potential gold properties in proven mining districts of Canada, such as the Gullrock property and its newly-acquired Wydee Property in Ontario.


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.



Contact

Murgor Resources Inc.
André C. Tessier, President & CEO
Tel.: (613) 546-7503 or 1-888-891-3330
E-mail: info@murgor.com