Adanac Molybdenum: Court Grants Sanction Order Approving Plan of Arrangement

Adanac Molybdenum Corporation (TSX:AUA) reports that the British Columbia Supreme Court made an order sanctioning the Company’s plan of compromise and arrangement.

The press release is quoted as saying:

Adanac Molybdenum Corporation owns the Ruby Creek Project, which is located in northwest British Columbia. Adanac has advanced this primary molybdenum property through feasibility studies, a production decision and an updated resource estimate. Upon emergence from protection from its creditors under the CCAA, Adanac will have minimal debt and will be positioned to resume its efforts to develop the Ruby Creek Project.

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