Shareholders of International Enexco Approve Arrangement with Denison Mines Corp.
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Jun 4, 2014) - International Enexco Limited (TSX VENTURE:IEC)(OTCQX:IEXCF)(FRANKFURT:I6E) ("IEC") ( the "Company") announces that its securityholders have approved the acquisition of the Company by Denison Mines Corp. (" Denison ") by way of a Plan of Arrangement (the " Transaction "). A Special Meeting of all share, warrant and option holders was held today, at which the combined securityholders representing 58.98% of the total securities outstanding passed the Special Resolution, with 99.99% of those voting approving the Transaction. The Transaction was also approved by 99.99%, 100% and 100% of the votes cast by "minority" shareholders, warrantholders and optionholders, respectively, voting as separate classes.
Completion of the Transaction remains subject to a number of conditions, including but not limited to, the satisfaction of standard closing conditions for transactions of this nature, as well as approvals from the British Columbia Supreme Court and the final approval of the TSX Venture Exchange.
The Company will seek final approval from the B.C. Supreme Court for the Transaction at a hearing set to be held on June 6, 2014 and expects to complete the Transction as soon as possible thereafter.
Additional information on the Transaction may be found in the Company's filings on www.sedar.com including the Company's information circular dated May 2, 2014 and the Arrangement Agreement between the Company and Denison dated April 11, 2014.
In addition, on June 3, 2014, IEC, Choice Gold Corp., and Full Metal Minerals Ltd. announced that the companies have entered into a tripartite definitive arrangement agreement (the " Arrangement Agreement ") with respect to the previously announced letter of intent (" LOI ") dated March 19 th , 2014. Please see press release dated June 3, 2014 on the Comaany's website www.enexco.ca for further details.
About International Enexco Limited
International Enexco Limited is a North American exploration and development company focused on the feasibility stage, 100% owned, Contact Copper project in northern Nevada and the Mann Lake and Bachman Lake uranium projects located in Saskatchewan's prolific Athabasca Basin. The Mann Lake project is a joint venture with Cameco (52.5%) as operator, Enexco (30%) and AREVA (17.5%) - two of the world's largest uranium companies. The Bachman Lake project is a joint venture with Denison (80%) as operator and Enexco (20%).
On behalf of the Board of Directors,
G. Arnold Armstrong, President & CEO
Certain information regarding the Company including management's assessment of future plans and operations, may constitute forward-looking statements under applicable securities laws and necessarily involve risks associated with mining exploration and development, volatility of prices, currency fluctuations, imprecision of resource estimates, environmental and permitting risks, access to labour and services, competition from other companies and ability to access sufficient capital. Although the Company believe the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Readers are cautioned that mineral resources that are not mineral reserves do not have demonstrated economic viability. Mineral exploration and development of mines is an inherently risky business. For more information on the Company and the risks and challenges of its business, investors should review their annual filings that are available at www.sedar.com
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 of this news release. We seek safe harbour.
International Enexco Limited
+1 604 669 8368
info@enexco.ca
www.enexco.ca
