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NWM Mining Corp and Auriga Gold Corp Announce Non-Binding Letter Of Intent For All Stock Acquisition Of Auriga


Friday, 1 Mar 2013 07:55pm EST 

NWM Mining Corp and Auriga Gold Corp announced that a non- binding letter of intent has been entered into for the acquisition of all of the outstanding common shares of Auriga. It is anticipated that the Transaction will proceed by way of a three-cornered amalgamation which may be pursuant to a Plan of Arrangement under the Business Corporations Act, (Ontario). It is anticipated that NWM will issue 2.2 pre-consolidation common shares, for each one outstanding common share of Auriga. NWM and Auriga have agreed not to solicit other proposals relating to any acquisition of their common shares or similar transactions from other persons or entities subject to the exercise by the boards of NWM and Auriga respectively of their fiduciary duties. The letter agreement provides that the boards of NWM and Auriga may respond to unsolicited proposals from other parties where there is a fiduciary duty to do so. The non-binding letter of intent is subject to the execution of a definitive agreement between the parties by March 25, 2013, or on such other date as may be mutually agreed. In the event the definitive agreement is executed, the closing of the Transaction will be subject to a number of other conditions precedent, including but not limited to receipt by Auriga of a favourable fairness opinion, receipt of all necessary shareholder, stock exchange, third party, court and regulatory approvals. 

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