Tagish Lake Gold Corp.
TSX VENTURE : TLG

Tagish Lake Gold Corp.

December 15, 2010 14:34 ET

Tagish Lake Obtains Shareholder Approval of Plan of Arrangement

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 15, 2010) - Tagish Lake Gold Corp. (the "Company") (TSX VENTURE:TLG) is pleased to announce that at a special meeting of the Company's shareholders held today, the Company's shareholders approved the previously announced plan of arrangement (the "Arrangement") involving New Pacific Metals Corp. ("New Pacific"). The Company intends to seek the final court order for the Arrangement at the Supreme Court of British Columbia on December 16, 2010. The closing of the Arrangement is expected to occur after the satisfaction and/or waiver of all conditions precedent to the Arrangement, which is currently expected to occur on or about December 20, 2010.

New Pacific currently holds approximately 79.2% of the outstanding common shares of the Company (the "Shares"). The Arrangement is being proposed in order to allow New Pacific to acquire the remaining Shares. If the Arrangement is completed, the Company will become a wholly-owned subsidiary of New Pacific.

This news release may contain forward-looking statements (within the meaning of applicable securities laws) relating to the Company. Forward-looking statements are identified by words such as "believe", "anticipate", "expect", "intend", "plan", "will", "may" and other similar expressions. This information involves known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking information. Forward-looking information in this news release includes, without limitation, statements made in respect of the Arrangement.

All forward-looking statements in this news release are qualified by these cautionary statements. Forward-looking statements involve significant risks and uncertainties, should not be read as guarantees of future performance or results, should not be unduly relied upon and will not necessarily be accurate indications of whether or not such results will be achieved. Forward-looking information is based on various material factors or assumptions, which are based on information currently available to the Company. Although the forward-looking statements contained in this news release are based upon what management believes are reasonable assumptions, the Company cannot assure readers that actual results will be consistent with these forward-looking statements.

The forward-looking statements contained in this news release are made as of the date of this news release and should not be relied upon as representing the Company's views as of any date subsequent to the date of this news release. The Company assumes no obligation to update or revise these forward-looking statements to reflect new information, events, circumstances or otherwise, except as required by applicable law.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • Tagish Lake Gold Corp.
    Rui Feng
    President
    604-669-9397