Oro Gold and Oro Silver Enter Into a Business Combination Agreement

Oro Gold Resources Ltd. (TSXV:OGR) and Oro Silver Resources Ltd. (TSX-V:OSR) today jointly announce that they have entered into a binding letter of agreement to combine the two companies through a plan of arrangement.

The press release is quoted as saying:

Under the Agreement, Oro Gold and Oro Silver have agreed, based on the recommendations of their respective special committees comprised of independent directors (the “Special Committees”) in consultation with their advisors, that the Transaction will be an all-share transaction whereby Oro Gold would acquire all of the outstanding securities of Oro Silver on the basis of four common shares of Oro Silver for each common share of Oro Gold (the “Exchange Ratio”).

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