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'OLEPF' News -- Teranga and Oromin Announce Completion of Offer

 

 

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News for 'OLEPF' - (Teranga and Oromin Announce Completion of Offer) TORONTO, ONTARIO AND VANCOUVER, BRITISH COLUMBIA, Aug 07, 2013 (Marketwired via COMTEX) -- Teranga Gold Corporation ("Teranga") (TSX: TGZ)(ASX: TGZ) and Oromin Explorations Ltd. ("Oromin")

 

6:01 AM

 

 

 

 

Wednesday, August 07, 2013 6:01 AM

 

News for 'OLEPF' - (Teranga and Oromin Announce Completion of Offer)
       

TORONTO, ONTARIO AND VANCOUVER, BRITISH COLUMBIA, Aug 07, 2013 (Marketwired via
COMTEX) -- Teranga Gold Corporation ("Teranga") (TSX: TGZ)(ASX: TGZ) and Oromin
Explorations Ltd. ("Oromin") (TSX: OLE)(OTCBB: OLEPF) today announced that as at
the expiry time of 9:00 p.m. (Toronto Time) on August 6, 2013, a total of
78,985,388 common shares ("Oromin Shares") of Oromin, representing approximately
57.5% of the outstanding Oromin Shares (on a non-diluted basis), had been
tendered to the Teranga offer (the "Offer") to acquire all of the outstanding
Oromin Shares that Teranga did not already own. Together with 18,669,500 Oromin
Shares currently owned by Teranga, this represents a total of 97,684,888 Oromin
Shares, or approximately 71.1% of the outstanding Oromin Shares (on a
non-diluted basis). This excludes deficient tenders that may yet be rectified
and additional Oromin Shares that may be tendered pursuant to the Notice of
Guaranteed Delivery process.

All Oromin options have been rolled-over into Teranga options in accordance with
the terms of the Support Agreement between Teranga and Oromin dated July 22,
2013 in respect of the transaction.