Maxy Gold Corp.
TSX VENTURE : MXD

Maxy Gold Corp.

December 15, 2009 07:30 ET

Maxy Shareholders Approve Acquisition by Lara Exploration Ltd

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 15, 2009) - Maxy Gold Corp. (TSX VENTURE:MXD) is pleased to report that the acquisition of the Company by Lara Exploration Ltd. under a Plan of Arrangement was approved by 81% of the shares voted at the special meeting of the shareholders of Maxy held on December 14th 2009. An application will be made to the British Columbia Supreme Court on Tuesday, December 15th and to the TSX Venture Exchange shortly thereafter for final approval of the Plan of Arrangement.

The transaction involves Lara issuing 4,307,731 new shares to current Maxy shareholders, resulting in Lara having a total of 23,554,232 issued shares outstanding. Lara is a well-capitalized prospect generator with a multi-commodity exploration portfolio focused in Brazil, Colombia and Peru. The transaction is expected to be effective by the end of the month, at which time Andre Gauthier, current President and CEO of Maxy, will become the President of Lara and Miles F. Thompson, Lara's current President, will become Chairman and CEO.

About Maxy

Maxy is a publicly traded junior exploration company focused on mineral acquisition, exploration and development in China and Peru. Maxy has internationally recognized Management and Exploration teams, with a large diverse network of contacts throughout China and South America.

For further information on Maxy Gold Corp. please consult the website www.maxygoldcorp.com.

For further information on Lara Exploration Ltd. please consult our website www.laraexploration.com.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • Maxy Gold Corp.
    Andre Gauthier
    President
    604-688-8811
    Website: www.maxygoldcorp.com
    or
    Lara Exploration Ltd.
    Miles Thompson
    604-669-8777
    or
    Lara Exploration Ltd.
    Julia Maxwell
    Investor Relations
    604-669-8777
    or
    Lara Exploration Ltd.
    Chris MacIntyre
    Investor Relations
    416-640-1932
    Website: www.laraexploration.com