Inter-Citic Granted Final Order For Plan Of Arrangement with Qing Hai Mining Acquisition Corp.

Inter-Citic Minerals (TSX:ICI,OTCQX:ICMTF) has been granted a final order by the Ontario Superior Court of Justice. The previously announced arrangement under the Canada Business Corporations Act pursuant to which Qing Hai Mining Acquisition Corp. will acquire all of the issued and outstanding common shares of Inter-Citic for C$2.05 per share in cash has been approved and scheduled for mid-November.

As quoted in the press release:

The closing of the Arrangement is currently scheduled for mid-November, 2012, subject to the parties obtaining or waiving, as applicable, the remaining conditions to the Arrangement, including requisite regulatory approvals in The People’s Republic of China.

The common shares of Inter-Citic are expected to be de-listed from the Toronto Stock Exchange following completion of the Arrangement.

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