U.S. Silver Corporation and RX Gold & Silver Inc. Receive Interim Orders To Proceed With Special Meetings To Consider Combinati
10 Juli 2012 - 10:30PM
PR Newswire (Canada)
TORONTO, July 10, 2012 /CNW/ - U.S. Silver Corporation ("U.S.
Silver") and RX Gold & Silver Inc. ("RX Gold") are pleased to
announce today that they have each received an interim order from
the Ontario Superior Court of Justice to proceed with their
respective special meetings of shareholders in connection with the
previously announced business combination of U.S. Silver and RX
Gold. The special meeting of U.S. Silver shareholders is scheduled
to be held at the offices of Stikeman Elliott LLP, 5300 Court
Commerce West, 199 Bay Street, Toronto, Ontario on Tuesday, August
7, 2012, commencing at 10:00 a.m. (Toronto time). The Notice of
Special Meeting to U.S. Silver shareholders, Management Proxy
Circular, Form of Proxy and Letter of Transmittal for U.S. Silver's
special meeting are available at www.sedar.com and are expected to
be mailed to U.S. Silver shareholders shortly. The special meeting
of RX Gold shareholders is scheduled to be held at the Ontario Bar
Association, 20 Toronto Street, Suite 200, Toronto, Ontario, M5C
2B8 on Tuesday, August 7, 2012, commencing at 9:00 a.m. (Toronto
time). The Notice of Special Meeting to RX Gold shareholders,
Management Information Circular, Form of Proxy and Letter of
Transmittal for RX Gold's special meeting are available at
www.sedar.com and are expected to be mailed to RX Gold shareholders
shortly. About U.S. Silver Corporation U.S. Silver, through its
wholly-owned subsidiaries, owns and/or operates the Galena, Coeur,
Caladay and Dayrock silver‐lead‐copper mines in Shoshone County,
Idaho, with the Galena mine being the second most prolific silver
mine in U.S. history. Total silver production from U.S. Silver's
mining complex has exceeded 217 million ounces of silver production
since 1953. U.S. Silver controls a land package now totaling
approximately 14,000 acres in the heart of the Coeur d'Alene Mining
District. U.S. Silver is focused on expanding the production from
existing operations as well as exploring and developing its
extensive Silver Valley holdings in the Coeur d'Alene Mining
District. About RX Gold & Silver Inc. RX Gold is a gold and
silver mining company focused on growth in North America. Currently
RX Gold is concentrating on continuing test mining and expanding
development at its 100%-owned Drumlummon Mine. The Drumlummon Mine
is a bonanza style low sulphidation epithermal gold and silver
deposit with historic production of approximately one million
ounces of gold equivalent. The mine has never been fully exploited
or explored and material that was once considered waste is now
potentially economic. In addition, RX Gold has discovered a series
of entirely new high‐grade gold and silver veins that remain open
for expansion in three directions. Forward-Looking Statements
Certain information in this press release may contain
forward‐looking statements. This information is based on current
expectations that are subject to significant risks, assumptions and
uncertainties that are difficult to predict and the risk that
regulatory approvals may not be obtained or that conditions of
closing will not be satisfied or waived within the timeframe
contemplated. Additional potential risks include: U.S. Silver &
Gold Inc. may not achieve anticipated synergies; loss of key
personnel; reduction in the anticipated cash levels; and not
achieving production goals stated. Actual results might differ
materially from results suggested in any forward‐looking
statements. U.S. Silver and RX Gold assume no obligation to update
the forward‐looking statements, or to update the reasons why actual
results could differ from those reflected in the forward
looking‐statements unless and until required by securities laws
applicable to the U.S. Silver and RX Gold. Additional information
identifying risks and uncertainties is contained in filings by the
U.S. Silver and RX Gold with the Canadian securities regulators,
which filings are available at www.sedar.com. Neither the TSX
Venture Exchange nor its Regulation Services Provider (as that term
is defined in policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release. RX
Gold & Silver Inc. CONTACT: U.S. Silver CorporationChris
HopkinsChief Financial Officer(416) 907-5501E-mail:
info@us-silver.comRX Gold & Silver Inc. Darren BlasuttiChief
Executive Officer(416) 848-9503E-mail: inbox@rxgold.com
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