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CANADIAN GOLD HUNTER AND SURAMINA SHAREHOLDERS APPROVE BUSINESS COMBINATION

 

April 17, 2009 Canadian Gold Hunter Corp. (CGH-TSX) (Canadian Gold Hunter) and Suramina Resources Inc. (SAX-TSX) (Suramina) are pleased to report that the previously announced business combination pursuant to a plan of arrangement under the Canada Business Corporations Act has been approved by shareholders of both companies at shareholders  meetings held in Vancouver on April 15, 2009.  The share issuance in connection with the arrangement was approved by 99.5% of the votes cast by Canadian Gold Hunter shareholders who were entitled to vote on the resolution and the arrangement was approved by 99.99% of the votes cast by Suramina shareholders.

 

Both companies have received all requisite regulatory approvals.  The Ontario Superior Court of Justice (Commercial List) has issued its final order approving the plan of arrangement.

 

Pursuant to the arrangement, Canadian Gold Hunter will acquire all of the issued and outstanding shares of Suramina on the basis of 0.7541 shares of Canadian Gold Hunter for each one Suramina share.   Suramina is now a wholly-owned subsidiary of Canadian Gold Hunter.  Suramina's common shares are expected to be delisted from the Toronto Stock Exchange effective as of the close of business on April 21, 2009.

 

Lukas Lundin, Chairman of Canadian Gold Hunter, commented, Canadian Gold Hunter is an extremely well-positioned exploration company with a diversified roster of gold/copper projects in various stages of advancement. This business combination is part of a larger strategy to build Canadian Gold Hunter into an international exploration vehicle.

In connection with the business combination, Haywood Securities Inc. provided a fairness opinion to the special committee of the board of directors of Canadian Gold Hunter and Dundee Securities Corporation provided financial advice and a fairness opinion to the special committee of the board of directors of Suramina.  Legal advice to the special committee of the board of directors of Canadian Gold Hunter was provided by DuMoulin Black LLP.  Legal advice to the special committee of the board of directors of Suramina was provided by McCullough, O’Connor Irwin LLP, and Cassels Brock & Blackwell LLP acted as corporate counsel on the transaction

 

 

 

ON BEHALF OF THE BOARD                                                                ON BEHALF OF THE BOARD

OF CANADIAN GOLD HUNTER                                                            OF SURAMINA

 

Richard J. Bailes                                                                                 J. Patricio Jones

President                                                                                               President

 

 

For further information, please contact:

Sophia Shane, Corporate Development (604) 689-7842

 

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EXPLORATION STAGE
CODE : CGH.TO
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TORONTO (CGH.TO)Other OTC (CGHLF.PK)
0.660+0.00%0.586-5.55%
TORONTO
CA$ 0.660
09/21 15:46 -
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