West African Resources Receives Conditional Approval for TSX Venture Exchange Listing
2014年1月16日 - 11:00PM
Marketwired
West African Resources Receives Conditional Approval for TSX
Venture Exchange Listing
VANCOUVER, BRITISH COLUMBIA and PERTH, AUSTRALIA--(Marketwired -
Jan 16, 2014) - Channel Resources Ltd. ("Channel")
(TSX-VENTURE:CHU) and West African Resources Limited ("West
African") (ASX:WAF) jointly report that West African Resources has
received conditional approval from the TSX Venture Exchange (the
"TSXV") for West African's listing of ordinary shares and share
purchase warrants.
Approval of the TSXV listing by West African is a principal
condition required for closing the previously announced plan of
arrangement (the "Arrangement") whereby West African is to acquire
all of the issued and outstanding common shares of Channel (the
"Channel Shares").
Further submissions to the TSXV are being prepared by West
African to satisfy all of the outstanding conditions, which are of
an ordinary course nature and are expected to be fulfilled in
conjunction with the completion of the acquisition of Channel. To
accommodate this process, Channel and West African have extended
the completion deadline of the Arrangement to January 17, 2014.
Assuming TSXV acceptance is obtained in due course, closing of the
Arrangement would occur immediately thereafter with further notice
to the market.
This news release contains "forward-looking information"
within the meaning of applicable Canadian and Australian securities
legislation, including information relating to West African's or
Channel's future financial or operating performance may be deemed
"forward looking". All statements in this news release, other than
statements of historical fact, that address events or developments
that West African or Channel expects to occur, are "forward-looking
statements". Forward-looking statements are statements that are not
historical facts and are generally, but not always, identified by
the words "expects", "does not expect", "plans", "anticipates",
"does not anticipate", "believes", "intends", "estimates",
"projects", "potential", "scheduled", "forecast", "budget" and
similar expressions, or that events or conditions "will", "would",
"may", "could", "should" or "might" occur. All such forward-looking
statements are based on the opinions and estimates of the relevant
management as of the date such statements are made and are subject
to important risk factors and uncertainties, many of which are
beyond West African or Channel's ability to control or predict.
Forward-looking statements are necessarily based on estimates and
assumptions (including that the Transaction will be completed
successfully on the terms agreed upon by the parties and that the
business of Channel will be integrated successfully into the West
African organization) that are inherently subject to known and
unknown risks, uncertainties and other factors that may cause
actual results, level of activity, performance or achievements to
be materially different from those expressed or implied by such
forward-looking statements. In the case of Channel and West
African, these facts include their anticipated operations in future
periods, planned exploration and development of its properties, and
plans related to its business and other matters that may occur in
the future, including the listing of West African's ordinary shares
on the TSX Venture Exchange. This information relates to analyses
and other information that is based on expectations of future
performance and planned work programs. Statements concerning
mineral resource estimates may also be deemed to constitute
forward-looking information to the extent that they involve
estimates of the mineralization that will be encountered if a
mineral property is developed.
None of the securities anticipated to be issued under the
Arrangement have been or will be registered under the Securities
Act of 1933, as amended, or any state securities laws, and such
securities are anticipated to be issued in the United States
pursuant to exemptions from such registration requirements. This
press release shall not constitute an offer to sell or solicitation
of an offer to buy any securities in any jurisdiction where such an
offer or sale would be unlawful.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Channel Resources Ltd.Colin McAleenanPresident &
CEO604.684.7098info@channelresources.cawww.channelresources.caWest
African Resources LimitedRichard HydeManaging Director+ 61 8 9481
7344+ 61 8 9481
7355info@westafricanresources.comwww.westafricanresources.com
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