Inter-Citic Shareholders Approve Western Mining Group Acquisition Arrangement

Inter-Citic Minerals (TSX:ICI,OCTQX:ICMTF) announced that the shareholders of Inter-Citic approved the previously announced arrangement whereby Qing Hai Mining Acquisition Corp., an indirect wholly-owned Canadian subsidiary of Western Mining Group Co., Ltd. will acquire all of the issued and outstanding common shares of Inter-Citic for C$2.05 per share in cash.

As quoted in the press release:

A final order approving the Arrangement will be sought from the Ontario Superior Court of Justice at a hearing scheduled to be held on Thursday, November 1, 2012 in Toronto.

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

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