CANADIAN GOLD HUNTER AND SURAMINA SHAREHOLDERS APPROVE BUSINESS
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
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
ON BEHALF OF THE BOARD
OF CANADIAN GOLD
Richard J. Bailes
J. Patricio Jones
information, please contact:
Sophia Shane, Corporate Development (604)