VANCOUVER, BC / ACCESSWIRE / April 8, 2015 / Estrella Gold Corporation (TSXV: EST)("Estrella" or the "Company") announces the positive results of the special meeting of Estrella's shareholders to approve the plan of arrangement (the "Arrangement") with Tarsis Resources Ltd. ("Tarsis", TSX V:TCC) announced February 11, 2015. Under the proposed arrangement Tarsis is acquiring all of the outstanding shares of Estrella.
99.36% of the shares represented at the special shareholder meeting held on April 8, 2015 were voted in favour of the Arrangement. Under this Arrangement shareholders will receive one common share of Tarsis for each Estrella share held. Immediately upon completion of the Arrangement, a share consolidation (one new for ten old) will take place and the combined company will change its name to Alianza Minerals Ltd. Alianza will have 10.8 million shares outstanding.
Shareholders also approved (99.75% in favour) a special resolution to authorize the Company, originally incorporated in Ontario, to become a British Columbia registered company.
The Arrangement is expected to close by April 30, 2015, along with a financing (the "Offering") of up to 2 million dollars. Under the terms of the Offering, up to 8 million units will be sold at a price of $0.25 per unit. Each unit includes one share and one share purchase warrant valid for three years at a price of $0.40. Trading under the new name of Alianza Minerals Ltd. (TSX V: ANZ) will commence shortly after the close of the Arrangement.
About Estrella Gold Corporation (EST.V) Estrella increases the chances of success in mineral exploration by using the "Prospect Generator" business model. Estrella has four projects and 3 generative programs in Peru. Two projects are in joint ventures, including the Yanac project, a drill ready copper-moly porphyry prospect in a 50/50 joint venture with Cliffs Natural Resources (CLF:NYSE). Estrella holds a 40% interest in the Pucarana joint venture with Alamos Gold, adjacent to Buenaventura's Chipmo Gold Mine in southern Peru. Upon closing of the combination with Tarsis, the Company will have projects in Nevada, Mexico, Yukon Territory and Peru.
Mr. Jason Weber, BSc, P.Geo., Estrella's President and CEO is a Qualified Person for the purposes of National Instrument 43-101 Standards of Disclosure for Mineral Projects of the Canadian Securities Administrators, and has reviewed and verified the technical information contained in this news release.
www.estrellagold.com.
For further information, contact:
Jason Weber, President and CEO
Sandrine Lam, Shareholder Communications
Tel: (604) 687-3520
Fax: (888) 889-4874
To learn more visit: www.estrellagold.com
NEITHER 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.STATEMENTS IN THIS NEWS RELEASE, OTHER THAN PURELY HISTORICAL INFORMATION, INCLUDING STATEMENTS RELATING TO THE COMPANY'S FUTURE PLANS AND OBJECTIVES OR EXPECTED RESULTS, MAY INCLUDE FORWARD-LOOKING STATEMENTS. FORWARD-LOOKING STATEMENTS ARE BASED ON NUMEROUS ASSUMPTIONS AND ARE SUBJECT TO ALL OF THE RISKS AND UNCERTAINTIES INHERENT IN RESOURCE EXPLORATION AND DEVELOPMENT. AS A RESULT, ACTUAL RESULTS MAY VARY MATERIALLY FROM THOSE DESCRIBED IN THE FORWARD-LOOKING STATEMENTS.
SOURCE: Estrella Gold Corporation