Widget

Add Shoreham Resources Ltd widget to your own site or blog

Narrow [210x500]

Wide [800x150]

Copy and Paste the following code:

AGORACOM News Flash

AGORACOM CONFERENCE UPDATE

12 More Companies Added To Schedule For Dec 3 & 4. (See Schedule)
Keynote Speakers Include Peter Grandich, Eric Coffin (See Speakers)
Workshop Presentations Added To Thursday Schedule
Investors from over 45 Countries Have Visited
Conference Begins 2 Weeks From Today!

Looking forward to seeing all of you there gang. Registration is free for investors. AGORACOM Members register with just one click. Non-members takes less than 60 seconds. Register here (see form on right hand side)

Message: SHOREHAM PLANS TO SEPARATE GUYANA AND ONTARIO PROPERTIES

AGORACOM

Rank: [?]

Administrator

Did you know? You can earn activity points by filling your profile with information about yourself (what city you live in, your favorite team, blogs etc.)

SHOREHAM PLANS TO SEPARATE GUYANA AND ONTARIO PROPERTIES

posted on Oct 05, 09 09:02AM

LANGLEY, CANADA, October 5, 2009 – Shoreham Resources Ltd. (the “Company” or “Shoreham”) (TSX-V: “SMH”), a Canadian exploration company dedicated to the exploration of advanced precious metal and polymetallic deposits in Guyana and Canada, is pleased to announce that the Board of Directors of the Company has authorized management to obtain legal, accounting and tax advice with respect to the Company’s intent to re-organize its mineral properties with a view toward enhancing shareholder value. In particular, the Company proposes to transfer its Guyanese properties to a new public company (Marudi Gold Corp.) pursuant to a plan of arrangement transaction. The Company will continue to hold its Canadian properties. Under the plan of arrangement, it is intended that the existing shareholders of the Company on the date of record will also be the initial shareholders of the newly formed company. The details of the share allocation ratio remains to be determined. It is expected that the shares of the newly formed Company will be listed on the TSX Venture Exchange.

The Board has created a special committee to determine the details of the reorganization, subject to full Board approval. The contemplated transaction will also be subject to the negotiation of a definitive agreement, acceptance of the TSX Venture Exchange, court approval and shareholder approval. Further details of the reorganization and related transactions will be announced as plans are finalized.

Mr. David Bending, M.Sc., P. Geo., President CEO and Chairman of the Board of Shoreham Resources Ltd. reports that, "Separating our Ontario Properties from our Guyana holdings is a logical step in building value for Shoreham’s shareholders and allowing for the orderly development of the Company’s assets.”

For further information please visit our website at www.shoreham.ca or contact our President and CEO Mr. David A. Bending at 604-533-9288. Additional details concerning the company’s projects and plans are accessible at www.agoracom.com

Neither the 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.