Kinbauri Gold Provides Update on Court Hearing and Update on Review of Strategic Alternatives
2009年6月30日 - 10:15PM
Marketwired
Kinbauri Gold Corp. ("Kinbauri") (TSX VENTURE: KNB)(FRANKFURT:
3KG.DE) advises that its application to have Glen Eagle Resources
Inc. ("Glen Eagle") claims summarily dismissed was not approved so
the matters will now proceed to arbitration . Kinbauri intends to
assert a counter claim against Glen Eagle for substantial damages
in the arbitration as well as asking for a dismissal of all of Glen
Eagle's claims. Kinbauri expects the reasons of the Court on its
application for summary dismissal to be released on Thursday July
2, 2009 and intends to provide further information at that time."
The Special Committee (the "Special Committee") of the Board of
Directors of Kinbauri is continuing to conduct a value maximization
process that is designed to facilitate the proposal of superior
alternatives from the unsolicited offer made by Orvana Minerals
Corporation ("Orvana") from qualified third parties. A number of
parties have entered into confidentiality and standstill agreements
with Kinbauri and are conducting due diligence that includes
reviewing materials in an electronic data room and site visits.
On June 9, 2009, Kinbauri's Board of Directors unanimously
recommended that Kinbauri shareholders REJECT the unsolicited offer
to purchase all of the outstanding Kinbauri shares made by Orvana
for the reasons as set out in the directors' circular of Kinbauri
dated June 9, 2009.
Shareholders do not have to take any action on the Orvana offer
and the Kinbauri Board urges you to reject it.
For assistance in withdrawing any shares already tendered, or
other questions, please contact Laurel Hill Advisory Group, the
Information Agent retained by Kinbauri in connection with the
Orvana Offer, toll free at 1-888-812-9184 from anywhere in Canada
or the United States and collect at 416-637-4661 from outside North
America.
About Kinbauri
Kinbauri (TSX VENTURE: KNB) is a mineral exploration company
focused on the development of precious metal prospects in Spain,
Nevada and Canada. Its immediate focus is to begin operations at
its El Valle/Carles property in Asturias, northwestern Spain in
2010. It currently has 59,348,051 common shares issued and
outstanding. For more information visit www.kinbaurimaximized.com
or www.kinbauri-gold.com.
THIS PRESS RELEASE WAS PREPARED BY KINBAURI GOLD CORP. THE TSX
VENTURE EXCHANGE DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR
ACCURACY OF THIS RELEASE.
This press release contains certain forward-looking statements,
which are based on the opinions and estimates of management at the
date the statements are made, and are subject to a variety of risks
and uncertainties and other factors that could cause actual events
or results to differ materially from those projected. Kinbauri
undertakes no obligation to update forward-looking statements if
circumstances or management's estimates or opinions should change.
The reader is cautioned not to place undue reliance on
forward-looking statements.
Contacts: Kinbauri Gold Corp. Mr. Brian McEwen Director, Special
Committee member 613-836-2594 613-831-2730 (FAX)
bmcewen@kinbauri-gold.com Europe: INVESTEL Ruediger (Rudy) Hnyk,
CEO Investor Relations & Telecommunications ceo@investel.de
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