| Desert Star and Providence Announce Approvals for Amalgamation and Closing Date | |
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VANCOUVER, B.C. -- April 10, 2015 -- Desert Star Resources Ltd. ("Desert Star")(TSX-V: DSR) and Providence Resources Corp. ("Providence")(TSX-V: PV) (Desert Star and Providence together, the "Companies") are pleased to announce that further to their news release of March 5, 2015, the Companies have received shareholder approval for the Companies' amalgamation by plan of arrangement. All items at each of the Companies' annual general and special meetings held on April 8, 2015 were approved. Further, on April 9, 2015, the Companies received approval of the BC Supreme Court by way of a Final Order for the plan of arrangement.
The amalgamated company ("Amalco") will keep the name "Desert Star Resources Ltd." and expects its common shares to commence trading on the TSXV under the symbol "DSR" on or about April 15, 2015.
Each Desert Star shareholder will receive one share in Amalco for every Desert Star share held and each Providence shareholder will receive 0.4 shares in Amalco and 0.4 share purchase warrants in Amalco (each whole Amalco warrant exercisable for 2 years at $0.25) for every Providence share held. For more information, refer to the Companies' joint information circular that is posted on the SEDAR website under the profile of each company at www.sedar.com.
About Desert Star and Providence
Desert Star is a Vancouver-based mineral exploration company focused on the identification, acquisition and development of copper and gold projects located in top-tier mineral belts in the southwestern United States that contain significant historical production, existing mining infrastructure and an established mining culture.
Providence Resources is a precious and base metal junior exploration company focused on creating shareholder value through acquisition and aggressive exploration in established, highly endowed mineral belts.
On behalf of the Board of
DESERT STAR RESOURCES LTD. AND PROVIDENCE RESOURCES CORP.
Vince Sorace, President and CEO
For further information please contact:
or visit our website at www.desertstar.ca.
or visit our website at www.pvresources.ca.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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Providence Capital Corp.
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EXPLORATION STAGE |
CODE : PV.V |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Providence Capital is a exploration company based in Canada. Its main exploration property is IRON RANGE in Canada. Providence Capital is listed in Canada. Its market capitalisation is CA$ 1.1 millions as of today (US$ 888 495, € 815 639). Its stock quote reached its highest recent level on December 10, 2010 at CA$ 2.99, and its lowest recent point on April 14, 2015 at CA$ 0.04. Providence Capital has 21 610 000 shares outstanding. |