Crocodile Gold Board Advises Shareholders to TAKE NO ACTION at This Time as Discussions With Luxor to Improve the Current Offer Are Ongoing and Alternatives Continue to Be Explored
Crocodile Gold Corp. (TSX:CRK)(OTCQX:CROCF)(FRANKFURT:XGC) ("Crocodile Gold" or the "Company") announces that it has mailed its directors' circular (the "Directors' Circular") in response to the offer (the "Luxor Offer") from Armant, LLC, an affiliate of investment funds managed by Luxor Capital Group, LP (Armant, LLC and Luxor Capital Group, LP together with all affiliates, the "Luxor Group") to Crocodile Gold shareholders ( the "Shareholders") to purchase up to 215,386,435 of the outstanding common shares of Crocodile Gold (the "Common Shares") for $0.56 per Common Share.