Monday, April 20, 2009

Canadian Gold Hunter and Suramina Shareholders Approve Business Combination. CGH.to, SAX.to, TNR.v

Lukas Lundin is putting together Exploration Play in Gold, Silver and Copper in Americas.

Friday April 17, 2009, 4:30 pm EDT
VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 17, 2009) - Canadian Gold Hunter Corp. (TSX:CGH - News; "Canadian Gold Hunter") and Suramina Resources Inc. (TSX:SAX - News; "Suramina") are pleased to report that the previously announced business combination pursuant to a plan of arrangement under the Canada Business Corporations Act has been approved by shareholders of both companies at shareholders' meetings held in Vancouver on April 15, 2009. The share issuance in connection with the arrangement was approved by 99.5% of the votes cast by Canadian Gold Hunter shareholders who were entitled to vote on the resolution and the arrangement was approved by 99.99% of the votes cast by Suramina shareholders.
Both companies have received all requisite regulatory approvals. The Ontario Superior Court of Justice (Commercial List) has issued its final order approving the plan of arrangement.
Pursuant to the arrangement, Canadian Gold Hunter will acquire all of the issued and outstanding shares of Suramina on the basis of 0.7541 shares of Canadian Gold Hunter for each one Suramina share. Suramina is now a wholly-owned subsidiary of Canadian Gold Hunter. Suramina's common shares are expected to be delisted from the Toronto Stock Exchange effective as of the close of business on April 21, 2009.
Lukas Lundin, Chairman of Canadian Gold Hunter, commented, "Canadian Gold Hunter is an extremely well-positioned exploration company with a diversified roster of gold/copper projects in various stages of advancement. This business combination is part of a larger strategy to build Canadian Gold Hunter into an international exploration vehicle."
In connection with the business combination, Haywood Securities Inc. provided a fairness opinion to the special committee of the board of directors of Canadian Gold Hunter and Dundee Securities Corporation provided financial advice and a fairness opinion to the special committee of the board of directors of Suramina. Legal advice to the special committee of the board of directors of Canadian Gold Hunter was provided by DuMoulin Black LLP. Legal advice to the special committee of the board of directors of Suramina was provided by McCullough, O'Connor Irwin LLP, and Cassels Brock & Blackwell LLP acted as corporate counsel on the transaction.
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