Wildcat Shareholders Approve Acquisition of Mammoth Minerals; Company Sets Record Date & Appoints Directors to Riva Gold Board
Vancouver, BC – Wildcat Silver Corporation (TSX-V:WS) (“Wildcat” or “the Company”) is pleased to announce that further to the announcement made on May 6, 2010, shareholders of Wildcat today approved the Plan of Arrangement whereby Wildcat will distribute 9,392,653 of the 10,392,653 Riva Gold Corporation (“Riva”) common shares it currently holds to Wildcat shareholders on a pro-rata basis. The record date for the distribution of Riva shares will be July 19, 2010. Approval of the Plan of Arrangement was one of the conditions for completion of the acquisition of Mammoth Minerals Inc. (“Mammoth”) by Riva, a wholly owned subsidiary of Wildcat. Consideration for the acquisition will be satisfied by Riva issuing 10,500,000 common shares to Mammoth shareholders.
Also today, Don Clark and Purni Parikh were appointed to the Board of Directors of Riva. Mr. Clark is a retired mining industry executive who also sits on the Board of Wildcat and Augusta Resource Corporation. Ms. Parikh is Corporate Secretary of Wildcat and a seasoned business executive with nearly 20 years in legal administration.
Completion of the acquisition of Mammoth and the Plan of Arrangement is now subject to, among other conditions, final court approval. The transaction is expected to close on July 19, 2010.
About Riva
Riva is a wholly owned subsidiary of Wildcat with a large land package of mineral exploration properties in Guyana totalling 56,341 acres in the highly prospective Warapati/Noseno and Arawapai areas.
About Wildcat
Wildcat is a Canadian mineral exploration company focused on development of the Hardshell project in Santa Cruz County, Arizona. The Hardshell property is held by Arizona Minerals Inc., of which Wildcat is an 80% owner. Wildcat trades on the TSX Venture Exchange under the symbol WS.
