Orko Silver Corp. ("Orko") (TSX-V: OK) (Frankfurt: OG3) (OTCUS: OKOFF)
and Coeur d'Alene Mines Corporation ("Coeur") (NYSE: CDE) (TSX:CDM) are
pleased to announce the positive results of the Orko shareholder vote to
approve the previously announced plan of arrangement (the "Arrangement")
whereby Coeur will acquire all of the issued and outstanding common
shares of Orko (the "Orko Shares").
99.72% of the Orko Shares represented at Orko's special shareholders'
meeting held earlier today were voted in favor of the special resolution
approving the Arrangement.
Orko will apply for a final order of the Supreme Court of British
Columbia approving the Arrangement on Friday, April 12, 2013 and,
assuming receipt of court approval and the satisfaction or waiver of all
remaining closing conditions, Orko and Coeur expect the Arrangement to
be effective on or about April 16, 2013.
Gary Cope, Orko's President and CEO, said, "We are extremely pleased to
have received such overwhelmingly positive shareholder support for the
Arrangement. The combination with Coeur will allow our shareholders to
participate in a company with geographically diverse projects and robust
growth prospects while retaining upside related to La Preciosa. We look
forward to a smooth transition."
Mitchell J. Krebs, Coeur's President and CEO, said, "We look forward to
leveraging Coeur's financial and operational resources to realize the
true value of Orko's La Preciosa project. As a combined company, we will
have enhanced asset and geographic portfolio diversification and robust
growth prospects for our combined shareholder base."
Orko shareholders with questions regarding the deposit of Orko Shares to
the Arrangement can contact Kingsdale Shareholder Services Inc. toll
free in North America at (888) 518-6812 or call collect outside North
America at (416) 867-2272 or by email at [email protected].
Orko Silver Corp. is developing one of the world's largest undeveloped
primary silver deposits, La Preciosa, located near the city of Durango,
in the State of Durango, Mexico.
Coeur d'Alene Mines Corporation is the largest U.S.-based primary silver
producer and a growing gold producer. The Company has four precious
metals mines in the Americas generating strong production, sales and
cash flow in continued robust metals markets. Coeur produces from its
wholly owned operations: the Palmarejo silver-gold mine in Mexico, the
San Bartolomé silver mine in Bolivia, the Rochester silver-gold mine in
Nevada and the Kensington gold mine in Alaska. The Company also owns a
non-operating interest in a mine in Australia, and conducts ongoing
exploration activities in Mexico, Argentina, Nevada, Alaska and Bolivia.
Special Note Regarding Forward Looking Statements
This News Release may contain forward-looking statements, including but
not limited to comments regarding the completion of the transactions
contemplated herein and the ability to realize the potential economic
benefits of the La Preciosa Project. Forward-looking statements address
future events and conditions and therefore involve inherent risks and
uncertainties. Actual results may differ materially from those currently
anticipated in such statements and Orko and Coeur undertake no
obligation to update such statements, except as required by law. Neither
the TSX Venture Exchange nor its Regulation Services Provider (as that
term is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release.
Orko Silver Corp
Yang, Vice President, Investor Relations
Bales, Director, Corporate Communications