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Cours Or & Argent

Levon Resources

Publié le 26 mars 2011

COMPLETES ACQUISITION OF VALLEY HIGH VENTURES

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LEVON RESOURCES COMPLETES ACQUISITION OF VALLEY HIGH VENTURES

Vancouver, BC ? March 25, 2011 ? Levon Resources Ltd. ("Levon") and Valley High Ventures Ltd. ("Valley High" or ?VHV?) are pleased to jointly announce the completion of the acquisition of VHV by Levon. Levon has acquired all of the shares of Valley High pursuant to a court-approved plan of arrangement (the "Arrangement"). The transaction was overwhelmingly approved by VHV?s shareholders and optionholders who voted at VHV's annual and special meeting on March 22, 2011.

Ron Tremblay, President and Chief Executive Officer of Levon said, "We have consolidated and simplified ownership of our flagship Cordero Project in Mexico, and are fully funded with $21 million in cash to continue aggressively pursuing exploration at Cordero with our 59,000m Phase 3 drill program. We welcome Valley High shareholders as shareholders of Levon.?

Under the terms of the Arrangement, effective today, each former VHV shareholder will receive 1.0 share of Levon and 0.125 of a share of a new exploration company, Bearing Resources Ltd. ("Bearing") for each VHV share held.   Options of Valley High not exercised prior to completion of the arrangement were deemed to have been exercised on a cashless basis for Levon shares.  In accordance with their terms, outstanding warrants of VHV will automatically be adjusted so that, upon exercise subsequent to completion of the transaction, for each Valley High share that would previously have been issued, the warrantholder will receive 1.0 of a Levon share but, instead of receiving 0.125 of a share of Bearing, the exercise price of the warrant will be reduced by the fair value of 0.125 of a Bearing share.

Levon issued 73,322,636 common shares pursuant to the Arrangement. Former VHV shareholders now hold approximately 43% of the issued and outstanding shares of Levon with the existing Levon shareholders now holding approximately 57% on a fully-diluted basis. VHV shareholders now also own 100% of the Bearing shares and Bearing now owns all of VHV's exploration assets outside of the Cordero Project (as defined in the Arrangement Agreement), as well as $1.8 million in cash.  Levon now owns 100% of the Cordero Project..

In order to receive the Levon common shares to which they are entitled, former registered holders of VHV shares must complete and return to Computershare Trust Company of Canada a letter of transmittal together with their certificates representing their VHV shares and otherwise follow the instructions contained in VHV's management information circular dated February 18, 2011, which is available on VHV's profile on SEDAR at www.sedar.com in order to obtain certificates representing Levon shares and Bearing shares to which they are entitled pursuant to the Arrangement.

About Levon:

Levon Resources is a precious and base metals exploration company focused on exploring and developing the Cordero silver, gold, zinc and lead project in the state of Chihuahua, Mexico. The company also holds the Norma Sass and Ruf claims, located in the heart of Nevada?s Cortez Gold Trend near Barrick Gold?s Pipeline gold mine, and key land positions in the productive Bralorne gold camp of southwest British Columbia, Canada

For further information contact Levon Resources Ltd. at (604) 682-3701, or log onto our website www.levon.com.

 

LEVON RESOURCES LTD

"Ron Tremblay"
_________________________________________
Ron Tremblay, President & Chief Executive Officer

 


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. This release contains statements that are forward-looking statements and are subject to various risks and uncertainties concerning the specific factors disclosed under the heading "Risk Factors" and elsewhere in the Company's periodic filings with Canadian securities regulators. Such information contained herein represents management's best judgment as of the date hereof based on information currently available. The Company does not assume the obligation to update any forward-looking statement.

http://oniva.xplorex.com/modules/newsletter/trackdeliveryresults.jsp?email=newsrelease@24hgold.com&sendingid=218.

Données et statistiques pour les pays mentionnés : Canada | Tous
Cours de l'or et de l'argent pour les pays mentionnés : Canada | Tous

Levon Resources

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CODE : LVN.V
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Levon est une société développant des projet miniers d'argent et de zinc basée au Canada.

Levon détient divers projets d'exploration au Canada.

Ses principaux projets en exploration sont CONGRESS PROPERTY, EAGLE CLAIMS (CORRALL CANYON), NORMA SASS CLAIMS, RUF, BRX (GOLD BRIDGE AREA) et MT. POLLEY au Canada et CORDERO-SANSON au Mexique.

Levon est cotée au Canada, aux Etats-Unis D'Amerique et en Allemagne. Sa capitalisation boursière aujourd'hui est 186,9 millions CA$ (187,0 millions US$, 141,7 millions €).

La valeur de son action a atteint son plus bas niveau récent le 23 janvier 2009 à 0,05 CA$, et son plus haut niveau récent le 21 avril 2011 à 2,38 CA$.

Levon possède 198 821 000 actions en circulation.

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Rapports annuels de Levon Resources
2008 Annual report
Annual Reprot 2007
Financements de Levon Resources
31/07/2009Closes $800,000 Non Brokered Private Placement
22/06/2009Non-brokered private placement to advance Cordero project an...
Nominations de Levon Resources
29/03/2011WELCOMES TWO NEW BOARD MEMBERS
24/02/2009APPOINTMENT OF VICE PRESIDENT - EXPLORATION
10/09/2007NEW APPOINTMENT TO THE BOARD OF DIRECTORS
Projets de Levon Resources
05/04/2017to Complete Resource Infill Drilling to Test a Starter Pit S...
05/05/2011(Congress Property)Clarifies Technical Disclosure Related to Its Congress Prope...
17/03/2011(Cordero-sanson)Discovers High Grade Contact Replacement Style Mineralizatio...
07/04/2010(Cordero-sanson)Phase 2 Drilling at Cordero Project
02/09/2009(Cordero-sanson)Trenching expands targets at Cordero Project, Mexico
10/06/2009(Cordero-sanson)Exploration at Cordero Discovers New Zone and Expands the Di...
02/03/2009(Cordero-sanson) & Valley High Begin Work at the Cordero Silver, Gold, Lead,...
Communiqués de Presse de Levon Resources
27/06/2011LEVON'S WARRANTS EXERCISED IN FULL
21/06/2011Reports First Bulk Tonnage NI 43-101 Compliant Resource at I...
19/05/2011ANNOUNCES CLOSING OF $40,170,000 OFFERING
30/04/2011Accelerates the Expiry of Former Valley High Warrants
28/04/2011ACCELERATES EXPIRY OF WARRANTS
13/04/2011We Will Be Moving Thursday April 14th
11/04/2011RESOURCED LTD. INCREASES SIZE OF BOUGHT DEAL FINANCING TO $4...
26/03/2011COMPLETES ACQUISITION OF VALLEY HIGH VENTURES
22/03/2011ANNOUNCES THAT VALLEY HIGH SHAREHOLDERS AND OPTION HOLDERS A...
12/02/2009JOINT VENTURE WITH VALLEY HIGH VENTURES AT THE CORDERO PROPE...
23/01/2009EARLY WARNING REPORT
05/11/2008Letter to the Shareholders
24/09/2008CONGRESS PROPERTY, BC DRILLING SUMMARY REPORT RELEASED
28/08/2007Announces Investor Relations Agreement
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