Oromin Announces New Board of Directors
08.08.2013 | CNW
VANCOUVER, Aug. 7, 2013 /CNW/ - Oromin Explorations Ltd. ("Oromin") (TSX:OLE and OTC/BB:OLEPF) today announced that, following the take-up and payment by Teranga Gold Corp. ("Teranga") of all of the Oromin common shares under Teranga's take-over bid, pursuant to the terms of the support agreement between Oromin and Teranga dated June 22, 2013, all of the directors and officers of Oromin have resigned and been replaced with Mr. Robert Duff Young, Mr. Shane Swinn and Mr. Jonathan Weisstub as director nominees of Teranga.To find out more about Oromin Explorations Ltd., visit www.oromin.com.
This release contains forward-looking statements and information within the meaning of applicable Canadian securities laws and the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These statements are based on management's current expectations and beliefs and are subject to a number of risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. All statements in this release, other than statements of historical fact, that reference the offer by Teranga and the process to be followed by the Board and the Special Committee with the assistance of advisors are forward-looking statements. Although Oromin believes that the expectations expressed in such forward-looking statements are reasonable, there is no assurance that developments beyond its control will not result in Oromin's expectations regarding such matters proving to be incorrect. Factors that could cause its expectations about the proposed takeover bid and the process to be followed by Oromin to be inaccurate include the possibility that other potential offers will emerge that will require an adjustment to the process, and that the Board or Special Committee will be unable for any reason to follow or complete the process as envisioned.
Contact
Oromin Explorations Ltd.
Kathy Sipos, Vice-President, Investor & Stakeholder Relations of Teranga
T: +1 416-594-0000
E: ksipos@terangagold.com
