Franconia Minerals Corporation (TSE:FRA) reports shareholders approval arrangement involving Duluth Metals Limited (TSE:DM).
The press release is quoted as saying:
The completion of the Arrangement remains subject to the approval of the Court of Queen’s Bench of Alberta. The hearing is to be held in Calgary, Alberta on March 4, 2011 at 2:00 p.m. If approved and all other conditions to the Arrangement are satisfied, Duluth will acquire all of the outstanding common shares of Franconia and Franconia will become a wholly-owned subsidiary of Duluth. Franconia’s assets are expected to be rolled into Twin Metals Minnesota LLC, a Duluth (60%) and Antofagasta plc (40%) joint venture.