Orko Shareholders Approve Arrangement with Coeur
VANCOUVER, British Columbia & COEUR D'ALENE, Idaho--(BUSINESS WIRE)-- Orko Silver Corp. ("Orko") (TSX-V: OK) (Frankfurt: OG3) (OTCUS: OKOFF) and Coeur d'Alene Mines Corporation ("Coeur") (NYS: CDE) (TSX:CDM) are pleased to announce the positive results of the Orko shareholder vote to approve the previously announced plan of arrangement (the "Arrangement") whereby Coeur will acquire all of the issued and outstanding common shares of Orko (the "Orko Shares").
99.72% of the Orko Shares represented at Orko's special shareholders' meeting held earlier today were voted in favor of the special resolution approving the Arrangement.
Orko will apply for a final order of the Supreme Court of British Columbia approving the Arrangement on Friday, April 12, 2013 and, assuming receipt of court approval and the satisfaction or waiver of all remaining closing conditions, Orko and Coeur expect the Arrangement to be effective on or about April 16, 2013.
Gary Cope, Orko's President and CEO, said, "We are extremely pleased to have received such overwhelmingly positive shareholder support for the Arrangement. The combination with Coeur will allow our shareholders to participate in a company with geographically diverse projects and robust growth prospects while retaining upside related to La Preciosa. We look forward to a smooth transition."
Mitchell J. Krebs, Coeur's President and CEO, said, "We look forward to leveraging Coeur's financial and operational resources to realize the true value of Orko's La Preciosa project. As a combined company, we will have enhanced asset and geographic portfolio diversification and robust growth prospects for our combined shareholder base."
Orko shareholders with questions regarding the deposit of Orko Shares to the Arrangement can contact Kingsdale Shareholder Services Inc. toll free in North America at (888) 518-6812 or call collect outside North America at (416) 867-2272 or by email at firstname.lastname@example.org.
Orko Silver Corp. is developing one of the world's largest undeveloped primary silver deposits, La Preciosa, located near the city of Durango, in the State of Durango, Mexico.
Coeur d'Alene Mines Corporation is the largest U.S.-based primary silver producer and a growing gold producer. The Company has four precious metals mines in the Americas generating strong production, sales and cash flow in continued robust metals markets. Coeur produces from its wholly owned operations: the Palmarejo silver-gold mine in Mexico, the San Bartolomé silver mine in Bolivia, the Rochester silver-gold mine in Nevada and the Kensington gold mine in Alaska. The Company also owns a non-operating interest in a mine in Australia, and conducts ongoing exploration activities in Mexico, Argentina, Nevada, Alaska and Bolivia.
Special Note Regarding Forward Looking Statements
This News Release may contain forward-looking statements, including but not limited to comments regarding the completion of the transactions contemplated herein and the ability to realize the potential economic benefits of the La Preciosa Project. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements and Orko and Coeur undertake no obligation to update such statements, except as required by law. 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.
Orko Silver Corp
Kingsdale Shareholder Services
Wendy Yang, Vice President, Investor Relations
Stefany Bales, Director, Corporate Communications
KEYWORDS: United States Mexico North America Central America Canada Australia/Oceania Idaho
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