Crocodile Gold Corp. Announces Results of Shareholder Meeting and Anticipated Closing of the Arrangement With Newmarket Gold Inc.
TORONTO, ONTARIO -- (Marketwired - Jul 6, 2015) - Crocodile Gold Corp. ("Crocodile Gold" or the "Company")(TSX:CRK) (TSX:CRK.DB) (TSX:CRK.WT) (OTCQX:CROCF) (FRANKFURT:XGC) is pleased to announce that, at its special meeting of shareholders held today (the "Meeting"), holders of common shares of Crocodile Gold approved the arrangement resolution ("Arrangement Resolution") and new incentive plans resolution ("New Incentive Plans Resolution") with respect to Crocodile Gold's previously-announced amalgamation with Newmarket Gold Inc. ("Newmarket") (TSX VENTURE:NGN) to be completed by way of a plan of arrangement (the "Arrangement").The Arrangement Resolution was approved by over 91% of the votes cast at the Meeting. The New Incentive Stock Plans Resolution was approved by over 91% of the votes cast at the Meeting. A copy of the complete report on voting for Crocodile Gold will be made available on SEDAR under Crocodile's profile.
Crocodile Gold and Newmarket expect to obtain final court approval for the Arrangement on or about July 8, 2015. Subject to obtaining the final court approval and the remaining conditions to closing the Arrangement being satisfied, it is anticipated that the closing of the Arrangement will occur on or about July 10, 2015.
Further information about the Arrangement is set out in the Crocodile Gold and Newmarket joint management information circular dated June 2, 2015 which is available on SEDAR under Crocodile Gold's issuer profile and Newmarket's issuer profile at www.sedar.com.
About Crocodile Gold
Crocodile Gold is a Canadian-listed gold mining and exploration company with three operating mines in Australia. The objective of Crocodile Gold is to continue to focus on the safe and profitable operating performance from its three operating mines, Fosterville and Stawell Gold Mines in the state of Victoria and Cosmo Gold Mine in the Northern Territory. The Company's primary goal of sustainable operating performance is achieved through building confidence in its mine plans, continuing with prudent cost management controls, and targeted exploration and resource development. Sustainable operating performance from current assets is a critical step in supporting the future growth toward the Five-Year Strategy of Crocodile Gold.
For additional information, please visit our website www.crocgold.com or follow us on Twitter @crocgold_crk or on Facebook at CrocodileGoldCorp.
About Newmarket Gold Inc.
Newmarket is a Canadian gold company focused on creating shareholder value through the acquisition of quality gold production opportunities and outstanding development stage assets in mining friendly, politically stable jurisdictions world-wide. Newmarket was founded by an experienced group of dealmakers, mine developers, financiers and capital markets professionals and is focused on a disciplined approach to asset acquisition and growth.
Forward-Looking Information: This press release contains forward-looking statements (including "forward-looking information" within the meaning of applicable Canadian securities legislation. There is the transactional risk that the Arrangement may not close due to one or more conditions in the arrangement agreement dated May 11, 2015 between Crocodile Gold and Newmarket (the "Arrangement Agreement"), including obtaining final court approvals, not being satisfied or the Arrangement Agreement otherwise being terminated. A copy of the Arrangement Agreement is available on www.sedar.com.
Contact
Laura Lepore, Director, Investor Relations
Crocodile Gold Corp.
Tel: 416-847-1847
llepore@crocgold.com
www.crocgold.com