Latest News ReleaseREBgold Corporation and BacTech Environmental Corporation Complete Plan of Arrangement
Last Update: 12/2/2010 9:15:35 AM
TORONTO, CANADA, Dec 2, 2010 (Marketwire via COMTEX) -- REBgold Corporation (formerly BacTech Mining Corporation) ("REBgold") (RBG) and BacTech Environmental Corporation ("BEC") (cnsx:BAC) are pleased to announce the completion of their previously announced plan of arrangement (the "Arrangement") effective December 2, 2010. The Arrangement was completed following the approval of the Arrangement from the Superior Court of Justice (Ontario) and satisfaction of the various conditions precedent to the Arrangement. In connection with the completion of the Arrangement, BacTech Mining Corporation has changed its name to REBgold Corporation effective as of December 2, 2010.
Pursuant to the Arrangement, in consideration for the Remediation Assets (as defined in the arrangement agreement dated as of October 7, 2010 between REBgold and BEC (the "Arrangement Agreement"), BEC has assumed the Greenco Commitments (as defined in the Arrangement Agreement) and issued to REBgold approximately 26,720,008 common shares of BacTech Environmental Corporation ("BEC Shares"). REBgold has distributed the BEC Shares to REBgold shareholders, on the basis of one (1) BEC Share for each five (5) common shares of REBgold held as of the close of business on December 1, 2010.
Full details of the Arrangement, and of the assets and proposed operations of each of REBgold and BEC, are set out in the management information circular of REBgold dated October 14, 2010, a copy of which is available on www.sedar.com .
Commencing December 2, 2010, REBgold common shares will trade on the TSX Venture Exchange under the symbol "RBG", and BEC Shares will trade on the Canadian National Stock Exchange under the symbol "BAC".
SOURCE: REBgold Corporation
REBgold CorporationLou NagyChief Financial Officer416-813-0303 ext 224corporate@reb-gold.comBacTech Environmental CorporationRoss OrrPresident & CEO416-813-0303 ext 222borr@bactech.com