Brazilian Gold Shareholders In Favour of Arrangement with Brazil Resources

Brazil Resources Inc. (TSXV:BRI,OTCQX:BRIZF) and Brazilian Gold Corporation (TSXV:BGC) announced that shareholders of Brazilian Gold Corporation (BGC) voted in favour of the proposed transaction pursuant to which Brazil Resources will acquire BGC.

As quoted in the press release:

…BGC shareholders voted in favour of the proposed transaction pursuant to which Brazil Resources will acquire all of the issued and outstanding common shares of BGC by way of a plan of arrangement under the Business Corporations Act (British Columbia) (the “Arrangement”). Over 94% of the shares voted at the Meeting were voted in favour of the special resolution approving the Arrangement.

BGC’s application to the Supreme Court of British Columbia to obtain the final order approving the Arrangement is currently scheduled for Thursday, November 21, 2013. If court approval is obtained and all other conditions precedent to the Arrangement are satisfied or waived, the Arrangement is expected to become effective on or about November 22, 2013.

Click here to read the Brazil Resources Inc. (TSXV:BRI,OTCQX:BRIZF) press release