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Cardero Resource Corp. announces that, at the Company's Special General Meeting held on May 25, 2011, its shareholders voted 97.5% in favour of acquiring Coalhunter Mining Corporation through participation in the previously announced Plan of Arrangement.
The Company has also been advised by Coalhunter that, at its Special General Meeting held on May 19, 2011, the Plan of Arrangement was approved by the shareholders, option holders and special warrant holders of Coalhunter, and that, on May 20, 2011, Coalhunter obtained the final order approving the Plan of Arrangement from the Supreme Court of British Columbia. The Company and Coalhunter have determined that the effective date for the Plan of Arrangement will be Monday, May 30, 2011. As set out in the Arrangement Agreement, on the effective date, each Coalhunter shareholder holding shares as at the effective date of the Plan of Arrangement (other than the Company) will receive 0.8 of a common share of the Company for each common share of Coalhunter held. The Company anticipates issuing approximately 23,397,004 common shares on the effective date, with a further 6,485,543 common shares being reserved for the exercise of options held by former Coalhunter optionees, the exercise of Coalhunter warrants and pursuant to Coalhunter property acquisition agreements. |
