July 22 (Reuters) - Golden Band Resources Inc GBNh.V
* Golden Band seeks court approval of proposal to creditors & cancellation of existing shares
* Bankruptcy and Insolvency Act Proposal by co to its creditors was approved by creditors on July 22, 2016
* Says proposal contemplates Procon Resources Inc. or its nominee acquiring shares of co under a bid transaction
* Says closing date of transaction is expected to be August 12, 2016
* Golden Band Resources says purchase price by Procon under stalking horse credit bid equals obligations of Golden Band to Procon under credit agreement
* Says all existing shares and equity interests in Golden Band will be retracted, cancelled and extinguished Source text for Eikon: ID:nCNWCmV9Wa Further company coverage: GBNh.V
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