Trading Symbol: TSX - OLE
OTC/BB - OLEPF
Website: www.oromin.com
VANCOUVER, Aug. 7, 2013 /CNW/ - Oromin Explorations Ltd. ("Oromin") (TSX:OLE and OTC/BB:OLEPF) today announced that, following the
take-up and payment by Teranga Gold Corporation ("Teranga") of all of the Oromin common shares under Teranga's take-over bid,
pursuant to the terms of the support agreement between Oromin and
Teranga dated June 22, 2013, all of the directors and officers of
Oromin have resigned and been replaced with Mr. Robert Duff Young, Mr.
Shane Swinn and Mr. Jonathan Weisstub as director nominees of Teranga.
To find out more about Oromin Explorations Ltd., visit www.oromin.com.
This release contains forward-looking statements and information within
the meaning of applicable Canadian securities laws and the "safe
harbor" provisions of the U.S. Private Securities Litigation Reform Act
of 1995. These statements are based on management's current
expectations and beliefs and are subject to a number of risks and
uncertainties that could cause actual results to differ materially from
those described in the forward-looking statements. All statements in
this release, other than statements of historical fact, that reference
the offer by Teranga and the process to be followed by the Board and
the Special Committee with the assistance of advisors are
forward-looking statements. Although Oromin believes that the
expectations expressed in such forward-looking statements are
reasonable, there is no assurance that developments beyond its control
will not result in Oromin's expectations regarding such matters proving
to be incorrect. Factors that could cause its expectations about the
proposed takeover bid and the process to be followed by Oromin to be
inaccurate include the possibility that other potential offers will
emerge that will require an adjustment to the process, and that the
Board or Special Committee will be unable for any reason to follow or
complete the process as envisioned.
SOURCE: Oromin Explorations Ltd.
Contact Information:
Kathy Sipos, Vice-President, Investor & Stakeholder Relations of Teranga
T: +1 416-594-0000 | E: ksipos@terangagold.com
Copyright CNW Group 2013