Lexington Gold Ltd - gold explorer with projects in North and South Carolina - Says it has support from 52% of investors so far for meeting resolutions, including approval of White Rivers Exploration (Pty) Ltd acquisition.

Chair Edward Nealon says: ‘’Despite the current challenging market conditions, we are pleased to have received this overwhelming show of support for...our proposed acquisition of White Rivers...from our largest shareholders by way of irrevocable undertakings to vote in favour of all of the resolutions to be tabled at the forthcoming special general meeting [on June 26]. I would like to thank such shareholders for their continued support and we look forward to providing further updates on the proposed acquisition and our plans to unlock value from White River’s highly promising assets in the Witwatersrand gold fields in due course.‘

In mid-May, Lexington said its subsidiary has entered into a conditional share subscription and loan agreements to acquire 76% of White Rivers. It said it would pay £300,000 through a new loan to White Rivers, as well as up to £6.4 million via the issue of new shares in Lexington Gold, dependent on certain milestones being met.

Current stock price: 6.49 pence, up 1.3%

12-month change: More than doubled

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