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Message: Files Court Injunction Against GLR Resources
| May 15, 2009 |
| Linear Gold Corp. Files Court Injunction Against GLR Resources in Connection With Planned Acquisition of Goldfields Project |
| HALIFAX, NOVA SCOTIA--(Marketwire - May 15, 2009) - Linear Gold Corp. (TSX:LRR) ("Linear Gold" or the "Corporation") announces that it has received interim injunctive relief from the Nova Scotia Supreme Court to restrain GLR Resources Inc. ("GLR") from proceeding with an allegedly superior offer to acquire GLR's Goldfields Project. On April 17, 2009, Linear and GLR signed a binding term sheet ("the "Agreement") providing the terms under which Linear would be entitled to acquire GLR's Goldfields Project. The terms specified the intended deal structure and the consideration due to GLR, as well as a right for Linear to match any superior offer received by GLR. Linear has been constructively working with GLR since April 20, 2009 to complete the transaction substantively in accordance with the Agreement. Linear understands that GLR has recently accepted an offer for the acquisition of the Goldfields Project that Linear was not properly notified of in accordance with the Agreement. Wade K. Dawe, President |
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