Brazauro Securityholders Approve Plan of Arrangement
16 Juli 2010 - 9:01PM
PR Newswire (Canada)
HOUSTON, TX, July 16 /CNW/ --
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IMPORTANT DEADLINE ------------------ July 16, 2010 Deadline for
receipt of tax election PLEASE REFER TO THE MANAGEMENT INFORMATION
CIRCULAR FOR FURTHER DETAILS
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Trading Symbol: BZO-TSX.V HOUSTON, TX, July 16 /CNW/ - Brazauro
Resources Corp. ("Brazauro" or the "Company" TSX.V: BZO) announces
that at a special meeting held today Brazauro's securityholders
approved the previously announced plan of arrangement (the
"Arrangement") with Eldorado Gold Corporation ("Eldorado" TSX:ELD,
NYSE:EGO). The Arrangement is subject to, among other things, the
final approval of the British Columbia Supreme Court. The special
resolution approving the Arrangement was approved by more than (i)
66 2/3% of the votes cast by Brazauro securityholders voting
together as a single class; (ii) 66 2/3% of the votes cast by
Brazauro shareholders voting together as a single class; and (iii)
a simple majority of the votes cast by Brazauro shareholders (other
than Eldorado and its related parties or joint actors and certain
Brazauro shareholders excluded by MI 61-101). The hearing for the
final order to approve the Arrangement is scheduled to take place
on July 16, 2010, with the completion of the Arrangement expected
to occur on July 20¸ 2010. Shareholders of Brazauro may be eligible
to elect to take an automatic Canadian tax rollover (the
"Rollover") on the exchange of their shares. In order to elect for
the Rollover, shareholders must return to Valiant Trust Company
(the "Depositary") a duly completed election form, which must be
received by the Depositary no later than 5:00 p.m. (Vancouver time)
on July 16, 2010. Shareholders who hold their shares through a
stockbroker or another intermediary must contact their stockbroker
or that intermediary in order to elect for the Rollover. About
Brazauro: Brazauro Resources is an established and well-financed
gold exploration company focused on high-potential properties in
the Tapajós region of Brazil. As well as its most advanced
property, Tocantinzinho, Brazauro is also actively exploring other
properties including the nearby Bom Jardim, Piranhas, Agua Branca
and Andorinhas projects. The Company's shares are listed on the TSX
Venture Exchange under the symbol BZO-V. Further information is
available at www.brazauroresources.com Neither 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. No stock exchange,
securities commission or other regulatory authority has approved or
disapproved the information contained herein. Forward-Looking
Statements Certain statements contained in this press release may
constitute forward-looking statements under Canadian securities
legislation which are not historical facts and are made pursuant to
the "safe harbour" provisions under the United States Private
Securities Litigation Reform Act of 1995. Such forward-looking
statements are based upon the Company's reasonable expectations and
business plan at the date hereof, which are subject to change
depending on economic, political and competitive circumstances and
contingencies. Readers are cautioned that such forward-looking
statements involve known and unknown risks, uncertainties and other
factors that may cause a change in such assumptions and the actual
outcomes and estimates to be materially different from those
estimated or anticipated future results, achievements or position
expressed or implied by those forward-looking statements. Risks,
uncertainties and other factors that could cause the Company's
plans to change include uncertainties related to the satisfaction
of the conditions required to complete the Arrangement; changes in
demand for and price of gold and other commodities (such as fuel
and electricity) and currencies; changes or disruptions in the
securities markets; legislative, political or economic developments
in Brazil; the need to obtain permits and comply with laws and
regulations and other regulatory requirements; the possibility that
actual results of work may differ from projections/expectations or
may not realize the perceived potential of the company's projects;
risks of accidents, equipment breakdowns and labour disputes or
other unanticipated difficulties or interruptions; the possibility
of cost overruns or unanticipated expenses in development programs;
operating or technical difficulties in connection with exploration,
mining or development activities; the speculative nature of gold
exploration and development, including the risks of diminishing
quantities of grades of reserves and resources; and the risks
involved in the exploration, development and mining business. The
Company disclaims any intention or obligation to update or revise
any forward-looking statements whether as a result of new
information, future events or otherwise. Brazauro Resources
Corporation, James Komadina, President and Chief Operating Officer,
719-330-4477; Mark Jones III, Chairman and CEO, 281-579-3400; Media
contact: John Lute, Lute & Company, 416-929-5883,
info@brazauroresources.com
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