Gold-Ore Tax InfoAcquisition of Gold-Ore Resources Ltd. by Elgin Mining Inc. on May 1, 2012 - Tax Election and Information
A. Canadian Tax Election
Section 85 Tax Election
The elections available to the eligible shareholders of Gold-Ore Resources Ltd. ("Gold-Ore") in respect of the consideration received under the Arrangement are complex and involve tax consequences. Gold-Ore shareholders should consult their professional tax advisors prior to making their tax election(s).
An Eligible Holder filing a Section 85 Election (and applicable Provincial Election) with Elgin Mining Inc. pursuant to Section 85 of the Income Tax Act (Canada) (the "ITA") should, depending on that individual's circumstances, be able to obtain a full or partial tax deferral (a "rollover") for Canadian federal income tax purposes.
All Eligible Holders who wish to make a Section 85 Election (and applicable Provincial Election) for Canadian income tax purposes should give their immediate attention to this matter and in particular, should consult their tax advisors without delay.
Any Eligible Holder who does not ensure that Elgin Mining Inc. receives the holder's information necessary to complete a Section 85 Election (and applicable Provincial Election) form in accordance with the procedures set out in the available "Tax Election Instructions Letter" on or before July 30, 2012 cannot be assured of benefiting from the rollover provisions of the ITA (or the corresponding provisions of any applicable provincial tax legislation).
Click here for a copy of the "Tax Election Instructions Letter"
B. US Form 8937
Click here for a copy of the US Form 8937 Form