Corazon Gold (CGW-V)
www.corazongold.com
112 million o/s
Insiders own 48%
Institutional own 44%
$3.6 million (as of June 30, 2012)
Corazon closes acquisition of ICN Resources
Oct 18, 2012 - News Release
Corazon Gold Corp. and ICN Resources Inc. have closed their plan of arrangement whereby Corazon acquired all of the outstanding shares of ICN. This business combination will result in a well-financed company with gold and silver exploration projects in Nicaragua, Nevada and Colorado. The transaction was approved by approximately 99 per cent of the shareholders of ICN that voted on a special resolution with respect to the transaction at an annual and special meeting of ICN shareholders held on Oct. 15, 2012, and a final order with respect to the transaction was obtained by ICN from the British Columbia Supreme Court on Oct. 16, 2012.
Pursuant to the terms of an arrangement agreement dated Aug. 10, 2012, as amended, 0947474 B.C. Ltd., a wholly owned subsidiary of Corazon, amalgamated with ICN on Oct. 17, 2012, under the name ICN Resources Ltd. The amalgamated company became a wholly owned subsidiary of Corazon, and Corazon has agreed to issue up to 51,665,740 common shares of Corazon to the former shareholders of common shares of ICN on a 1-for-1 basis. In order to obtain their Corazon shares, ICN shareholders are required to deliver the certificate representing their ICN shares, together with a completed letter of transmittal, to Corazon's transfer agent, Canadian Stock Transfer, pursuant to the instructions set forth in the letter of transmittal previously delivered to ICN shareholders. Blank copies of the letter of transmittal can be obtained from Corazon upon request. All outstanding ICN options and warrants will now be exercisable into Corazon shares, rather than ICN shares, on the same terms as provided for with respect to the existing ICN options and warrants, without any further action required on the holder thereof. |
