Alexis Minerals Begins Steps to Acquire Remaining Shares of Garson Gold

Ft Lauderdale, Florida 3/26/2010 02:30 AM GMT (TransWorldNews)

Alexis Minerals Corp. (TSX: AMC) (OTCQX: AXSMF) and Garson Gold Corp. (TSX-V: GG) has begun the necessary steps for Alexis to acquire all remaining Garson Gold shares what it does not currently hold. In order for Garson Gold to become a 100% owned subsidiary of Alexis, the two companies entered an arrangement agreement under which they planned to complete a business combination.

 

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Pursuant to the agreement, each Garson Gold shareholder will receive 0.29 Alexis common shares for each Garson Gold Share held. The exchange ratio is the same consideration that Alexis offered and paid under the offer. Upon the completion of the arrangement, outstanding Garson Gold options will be exchange for a corresponding number of options to acquire Alexis common shares in accordance with the exchange ratio.

 

Alexis Minerals Corporation is a Canadian mining company listed on the Toronto Stock Exchange (symbol "AMC") and trades in the US on the Over the Counter QX International platform (OTCQX:AXSMF) The Company owns one producing gold mine in Val-d'Or and the right to earn a 100% interest in the Lac Pelletier gold property in Rouyn-Noranda.

 

Garson Gold holds the Snow Lake Mine (NBM) Project in Snow Lake Manitoba. The Snow Lake Mine covers approximately 4,840 hectares and hosts the historic New Britannia Gold Mine which operated from 1949 to 1958 and again from 1995 to 2005 and produced approximately 1.44 million ounces of gold.

 

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