Headline Story | equities.com: "HALIFAX, NOVA SCOTIA--(Marketwire - Oct. 2, 2012) - Erdene Resource Development Corp. ("Erdene" or "Company") (TSX:ERD), today announced that it will hold a special meeting of shareholders ("Meeting") on October 26, 2012 to approve a plan of arrangement ("Arrangement") to separate its Mongolian metals exploration projects, which will stay within Erdene, from its North American projects (consisting primarily of its 25% interest in the Donkin Coal Project), which will become the major asset of Morien Resources Corp. ("Morien"), to be listed on the TSX Venture Exchange. Upon completion of the Arrangement, Erdene shareholders will control 100% of the Mongolia assets through Erdene and 97.25% of Morien.
"We believe the proposed division of our diverse key assets within the two public vehicles will greatly enhance the potential to create value in both the Mongolian metals projects and in the Donkin Coal Project and we are excited to launch these two focussed entities. We are confident the flexibility we will create within Morien with its interest in what we believe to be a premier global coal asset and the dedication we can commit to the Altan Nar gold project and our other Mongolian metals exploration projects, "
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