TORONTO, ONTARIO -- (Marketwire) -- 01/18/10 -- Moydow Mines International Inc. ("Moydow" or the "Company") (TSX: MOY)(AIM: MOY) announces the results of the Special Meeting of shareholders held on January 15, 2010, to vote on the proposed Plan of Arrangement which sets out the basis on which Franco-Nevada Corporation will acquire all of the outstanding shares of the Company. The Company announces that the required shareholder approvals were obtained on January 15, 2010 at the Special Meeting of the shareholders of the Company.
In order for the Plan of Arrangement to become effective, the Company will now seek the sanction of the Plan of Arrangement by the Supreme Court of British Columbia. The Plan of Arrangement is also subject to customary conditions to closing.
It is expected that, subject to the fulfillment of such customary conditions to closing, the Plan of Arrangement will become effective on January 21, 2010 ("Effective Date"). Delisting from the Toronto Stock Exchange and cancellation of the listing of the registered shares on the AIM market of the London Stock Exchange is expected to occur as soon as practicable after the Effective Date.
Moydow Mines International Inc.
Vice President, Corporate Development
Davy Corporate Finance-Nomad