Metco Shareholders' Approve Business Combination With Breakwater
Fri Apr 11, 3:48 PM
ca.news.finance.yahoo.com
TORONTO, ONTARIO--(Marketwire - April 11, 2008) - Breakwater Resources Ltd. (TSX: BWR.TO) -
Shareholders of Metco Resources Inc. (TSX VENTURE: MKO.V) have voted overwhelmingly in favour of a business combination of Metco and Breakwater Resources Ltd.
At the Special Shareholders' Meeting held today a special resolution was passed approving a business combination of Metco and Breakwater, by way of a Plan of Arrangement. Of the 107,674,556 votes eligible to be cast, 47,654,060 voted for the resolution, 417,000 voted against the resolution and no votes abstained.
This acquisition enables Breakwater to consolidate its land position in the Lebel-sur-Quevillon camp, securing potential feed for the Langlois mill, and to acquire a large, significantly under-explored land package in the prolific Matagami camp. Metco shareholders gain exposure to an international mining, exploration and development company which produces and sells zinc, copper, lead and gold concentrates to customers around the world. Breakwater's concentrate production is derived from four mines. Two of Breakwater's mines are located in Canada, one is located in Chile and one is located in Honduras.
Contacts
Ann Wilkinson
Breakwater Resources Ltd.
Vice President, Investor Relations
(416) 363-4798 Ext. 277 |
