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Temex Achieves up to 98% Gold Recovery in Metallurgical Testwork on High Grade Whitney Project, Timmins Gold Camp
Message: Temex Files Management Information Circular related to its Annual and
Special Meeting of Shareholders and Proposed Arrangement with Lake Shore Gold Corp.
TORONTO, Aug. 18, 2015 /CNW/ - Temex Resources Corp. (TSX-V: TME, FWB: TQ1) ("Temex" or the "Company") announces that it has filed its notice of annual and special meeting of shareholders and management information circular for the meeting to be held on Monday, September 14, 2015 (the "Meeting"). The Meeting will be held to consider, among other things, the proposed plan of arrangement (the "Lake Shore Arrangement") pursuant to the terms of an arrangement agreement entered into between Temex and Lake Shore Gold Corp. ("Lake Shore") dated July 31, 2015, on the terms disclosed in the Company's press release of July 31, 2015.
Commented Ian Campbell, President and CEO of Temex Resources Corp., "There are strong synergies between Temex and Lake Shore, and the proposed combination is an excellent opportunity for our shareholders to participate in increases in value of the Temex properties, while at the same time offering an opportunity to own shares of a well-established mining company with two producing underground gold mines in the Timmins gold camp. Lake Shore has ample capital and resources to rapidly advance their exploration stage portfolio to which our Whitney and Juby projects add substantial upside. We also recognize that Lake Shore has well-established technical and financial capability and operates extensive milling and other infrastructure in the immediate area of existing Temex projects."
Shareholders of record on July 16, 2015 will receive notice of and be entitled to vote at the Meeting. Full details of the Lake Shore Arrangement, and all other matters to be considered by shareholders at the Meeting, are contained in the Company's management information circular mailed to shareholders and available under the Company's SEDAR profile at www.sedar.com. All shareholders are urged to read the Meeting materials carefully.
Any Temex shareholders who have questions about the Lake Shore Arrangement or other matters to be considered at the Meeting, or who need assistance with the completion and delivery of their proxy, should contact Kingsdale Shareholder Services, the proxy solicitation agent, by telephone at: 1-866-581-1571 (North American Toll Free) or 416-867-2272 (Collect Outside North America); or by email at: [email protected]kingsdaleshareholder.com.
Advisors to Temex
GMP Securities L.P. is acting as financial advisor to Temex and Norton Rose Fulbright Canada LLP is acting as legal advisor.
Cautionary Note Regarding Forward-Looking Information
This press release contains forward-looking information which is not comprised of historical facts. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, performance and opportunities to differ materially from those expressed or implied by such forward-looking information. Forward-looking information contained or referred to in this press release includes, but may not be limited to, the completion and expected timing of the Lake Shore Arrangement, the timing of the Meeting and the anticipated benefits of the Lake Shore Arrangement to Temex shareholders.
Factors that could cause actual results to differ materially from those described in such forward-looking information include, but are not limited to, risks related to the Company's or Lake Shore's inability to satisfy a condition precedent to the completion of the Lake Shore Arrangement (including obtaining the requisite shareholder approval at the Meeting and the necessary regulatory approvals), other risks related to the completion of the Lake Shore Arrangement and risks related to the inability of each of the Company and Lake Shore to perform its respective obligations under the arrangement agreement in respect of the Lake Shore Arrangement (the "Lake Shore Arrangement Agreement") as well as certain other risks set out in the Company's public documents, including its management's discussion and analysis dated May 31, 2015, filed under the Company's profile on SEDAR at www.sedar.com.
The forward-looking information in this press release reflects the current expectations, assumptions and/or beliefs of the Company based on information currently available to the Company. In connection with the forward-looking information contained in this press release, the Company has made assumptions about: the Company's business, Lake Shore's business, the economy and the Company's and Lake Shore's industry in general, Lake Shore's ability to complete the Lake Shore Arrangement and to perform its obligations under the Lake Shore Arrangement Agreement, and Lake Shore's capital, resources and willingness to rapidly advance their exploration stage portfolio. The Company has also assumed that no significant events occur outside of the Company's or Lake Shore's normal course of business. Although the Company believes that the assumptions inherent in the forward-looking information are reasonable, forward-looking information is not a guarantee of future performance and accordingly undue reliance should not be put on such information due to the inherent uncertainty therein.
Any forward-looking information speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking information, whether as a result of new information, future events or results or otherwise.
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.
SOURCE Temex Resources Corp.
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