Lara Exploration Ltd.
TSX VENTURE : LRA
PINK SHEETS : LRAXF

Lara Exploration Ltd.

December 21, 2009 18:47 ET

Lara Exploration Completes Acquisition of Maxy Gold

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 21, 2009) - Lara Exploration Ltd. (TSX VENTURE:LRA)(PINK SHEETS:LRAXF) is pleased to report that it has completed its acquisition of all the issued and outstanding shares of Maxy Gold Corp. Effective today, Maxy became a wholly owned subsidiary of Lara and its shares were delisted from the Exchange. André Gauthier, Maxy's President, has been appointed Lara's President and joined its Board of Directors. Miles Thompson has become Chairman of Lara's Board and will continue as its CEO.

Pursuant to the acquisition, each Maxy share was exchanged for 0.125 Lara shares and Maxy options were exchanged for Lara options on the same ratio. A total of 4,307,731 Lara shares and options to purchase a further 340,000 Lara shares were issued. Lara now has 23,571,732 shares issued and outstanding.

About Lara

Lara is a well-capitalized prospect generator with a multi-commodity exploration portfolio focused in Brazil, Colombia and Peru. Lara's common shares trade on the TSX Venture Exchange under the symbol "LRA" and on the pink sheets under "LRAXF".

Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • Lara Exploration Ltd.
    Miles Thompson
    Chairman
    604-669-8777
    or
    Lara Exploration Ltd.
    Julia Maxwell
    Investor Relations
    604-669-8777
    604-688-1157 (FAX)
    or
    Lara Exploration Ltd.
    Chris MacIntyre
    Investor Relations
    416-640-1932
    info@laraexploration.com
    www.laraexploration.com