| Desert Star and Providence Announce Approvals for Amalgamation and Closing Date | |
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VANCOUVER, B.C. -- April 10, 2015 -- Desert Star Resources Ltd. ("Desert Star")(TSX-V: DSR) and Providence Resources Corp. ("Providence")(TSX-V: PV) (Desert Star and Providence together, the "Companies") are pleased to announce that further to their news release of March 5, 2015, the Companies have received shareholder approval for the Companies' amalgamation by plan of arrangement. All items at each of the Companies' annual general and special meetings held on April 8, 2015 were approved. Further, on April 9, 2015, the Companies received approval of the BC Supreme Court by way of a Final Order for the plan of arrangement.
The amalgamated company ("Amalco") will keep the name "Desert Star Resources Ltd." and expects its common shares to commence trading on the TSXV under the symbol "DSR" on or about April 15, 2015.
Each Desert Star shareholder will receive one share in Amalco for every Desert Star share held and each Providence shareholder will receive 0.4 shares in Amalco and 0.4 share purchase warrants in Amalco (each whole Amalco warrant exercisable for 2 years at $0.25) for every Providence share held. For more information, refer to the Companies' joint information circular that is posted on the SEDAR website under the profile of each company at www.sedar.com.
About Desert Star and Providence
Desert Star is a Vancouver-based mineral exploration company focused on the identification, acquisition and development of copper and gold projects located in top-tier mineral belts in the southwestern United States that contain significant historical production, existing mining infrastructure and an established mining culture.
Providence Resources is a precious and base metal junior exploration company focused on creating shareholder value through acquisition and aggressive exploration in established, highly endowed mineral belts.
On behalf of the Board of
DESERT STAR RESOURCES LTD. AND PROVIDENCE RESOURCES CORP.
Vince Sorace, President and CEO
For further information please contact:
or visit our website at www.desertstar.ca.
or visit our website at www.pvresources.ca.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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Providence Capital Corp.
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EXPLORATEUR |
CODE : PV.V |
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ProfilIndicateurs de MarchéVALEUR : Projets & res.Communiqués de PresseRapport annuelRISQUE : Profile actifsContactez la cie |
Providence Capital est une société d’exploration minière basée au Canada. Son principal projet en exploration est IRON RANGE au Canada. Providence Capital est cotée au Canada. Sa capitalisation boursière aujourd'hui est 1,1 millions CA$ (888 495 US$, 815 639 €). La valeur de son action a atteint son plus haut niveau récent le 10 décembre 2010 à 2,99 CA$, et son plus bas niveau récent le 14 avril 2015 à 0,04 CA$. Providence Capital possède 21 610 000 actions en circulation. |