| Trading Symbol: ADA: TSXV; ADAIF: OTCQX |
HALIFAX,
Oct. 11, 2013 /CNW/ - Acadian Mining
Corporation (the "Company" or "Acadian") (TSXV: ADA) and LionGold
Corp. Ltd. ("LionGold") (Singapore: LIGO) announced that they
concluded the arrangement today by which LionGold, through its
wholly-owned subsidiary LionGold Mining Canada Inc. (formerly
9286-0931 Québec Inc.) acquired all of the common shares of Acadian
("Acadian Shares") that it did not already own (the
"Arrangement"). Effective today, LionGold directly or
indirectly owns 100% of the outstanding shares of Acadian.
This announcement comes following the approval of the Arrangement
by the Company's shareholders on October 3,
2013 and the issuance of a final order of the Supreme Court
of Nova Scotia on October 4, 2013 approving the Arrangement.
Under the Arrangement, Acadian shareholders
(other than LionGold and its affiliates) received C$0.12 in cash for each Acadian Share.
Registered shareholders of Acadian are reminded that, in order to
receive the cash consideration for their Acadian Shares, they must
complete and sign the letter of transmittal and deliver it,
together with certificates representing their Acadian Shares and
any other required documents, to the depositary for the
Arrangement, Computershare Investor Services Inc.
("Computershare"), in accordance with the instructions
specified in the letter of transmittal and Acadian's management
information circular dated September 3,
2013, copies of which are available on SEDAR at
www.sedar.com.
Beneficial owners of Acadian Shares whose
Acadian Shares are registered in the name of a broker, investment
dealer, bank, trust company, depositary or other nominee should
contact that nominee to determine how the nominee will arrange to
have the Acadian Shares delivered to Computershare in exchange for
the cash consideration payable pursuant the Arrangement.
As a result of the Arrangement, trading of the
Acadian Shares on the TSX Venture Exchange (the "Exchange")
will be halted prior to the opening of the markets on October 11, 2013 and the Acadian Shares are
expected to be delisted from the Exchange shortly. In
addition, Acadian will make the required applications and filings
with the relevant Canadian securities regulatory authorities in
order for Acadian to cease to be a reporting issuer or the
equivalent in the relevant Canadian provinces.
About Acadian
Acadian is a Halifax, Nova Scotia,
based company with several gold projects located in Atlantic Canada. The Company also owns
barite properties on Cape Breton Island,
Nova Scotia. Acadian's primary focus is centered on
exploration and development of its two core gold deposits, namely
the Fifteen Mile Stream and Beaver Dam Projects.
Neither the TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in policies
of the TSX Venture Exchange) accepts responsibility for the
adequacy or accuracy of this release.
SOURCE Acadian Mining Corporation