The Prospector News

Oromin Responds to Teranga Announcement

You have opened a direct link to the current edition PDF

Open PDF Close

Share this news article

Oromin Responds to Teranga Announcement






Oromin Explorations Ltd. (TSX:OLE)(OTCBB:OLEPF) reports that it has received today from Teranga Gold Corporation notice of intent to file an unsolicited offer to acquire all of the outstanding shares of Oromin for 0.582 of a common share of TGZ stock for each outstanding common share of Oromin, or 80,000,000 common shares of TGZ.

Consistent with its obligations and focus on delivering value to shareholders, Oromin’s Board of Directors will consider the proposal and how it could impact the interests of Oromin’s shareholders and other stakeholders. Oromin’s Board of Directors and management remain committed to building and delivering value for shareholders and other stakeholders, and believe that Oromin’s strategy and recent performance and accomplishments clearly demonstrate this commitment.

Oromin recommends that its shareholders defer making any decision until the Board has had an opportunity to fully review the expected offer and to make a formal recommendation as to its merits. Shareholders will be promptly notified of any recommendation by the Board through a news release and circular in accordance with applicable securities laws.

Posted June 4, 2013

Share this news article


RNC Minerals Closes Oversubscribed $18.5 Million Bought Deal Financing

RNC Minerals (TSX: RNX) is pleased to announce that it has closed... READ MORE

September 20, 2019

Moneta Announces Closing of Strategic Investment by Eric Sprott

Moneta Porcupine Mines Inc. (TSX:ME) (OTC:MPUCF) (XETRA:MOP) is p... READ MORE

September 20, 2019

Golden Tag Resources Closes $1.5 Million Financing Including Strategic Investment by Eric Sprott

Golden Tag Resources Ltd. (TSX-V: GOG) is pleased to announ... READ MORE

September 20, 2019

Osisko Increases Credit Facility to $400 Million

Osisko Gold Royalties Ltd (TSX:OR) (NYSE:OR) is pleased to ... READ MORE

September 20, 2019

Unigold Announces Closing of Private Placement of 32,350,000 Units for Gross Proceeds of Approximately $3 Million

Unigold Inc. (TSX-V: UGD) is pleased to announce that it has clos... READ MORE

September 19, 2019

Copyright 2019 The Prospector News - Site design by Spyderbaby Productions