LONGUEUIL, Oct. 1, 2014 -
Avala Resources Ltd. (TSX VENTURE:AVZ) ("Avala") and
Dunav Resources Ltd. (TSX VENTURE:DNV) ("Dunav") are pleased to announce that each company held a general and special meeting of shareholders on September 30, 2014, and the previously announced plan of arrangement (the "Arrangement") between Avala and Dunav was approved by the shareholders of each company.
The Arrangement was approved by 99.8% of the shares represented at Avala's shareholders' meeting excluding the votes attached to shares owned by shareholders who are deemed to be related or interested parties.
The Arrangement was approved by 100% of the shares represented at Dunav's shareholders' meeting excluding the votes attached to shares owned by shareholders who are deemed to be related or interested parties.
Dunav is applying today for a final order approving the Arrangement from the Supreme Court of British Columbia. Assuming all other terms and conditions to the Arrangement are met including approval of the TSXV, it is expected that the Arrangement will close on October 2, 2014.
Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this release.
Contact
Avala Resources Ltd.
David Fennell, Executive Chairman
+1.450.640.0810
info@avalaresources.com
www.avalaresources.com
Dunav Resources Ltd.
James Crombie, President and Chief Executive Officer
+1.450.640.3868
info@dunavresources.com
www.dunavresources.com
