ENP Newswire -
Release date- 10062014 -
'We are excited to be adding True North's high grade sulphide nickel and PGM exploration targets at the West Raglan project to RNC's project portfolio. Located in northern
The definitive agreement provides that RNC's acquisition of an approximate 56% interest in True North is for a consideration of approximately 5.6 million RNC Common Shares. Closing is conditional on 50.1% of the outstanding True North shares accepting on a fully diluted basis. Closing is anticipated on
Cautionary Statement Concerning Forward-Looking Statements
This news release contains 'forward-looking information' including without limitation statements relating to the completion of the transaction contemplated by the definitive agreement and the potential of the West Raglan project.
Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of RNC to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements.
Factors that could affect the outcome include, among others: failure of the parties to satisfy conditions of closing under the definitive agreement; future prices and the supply of metals; the results of drilling; inability to raise the money necessary to incur the expenditures required to retain and advance the properties; environmental liabilities (known and unknown); general business, economic, competitive, political and social uncertainties; accidents, labour disputes and other risks of the mining industry; political instability, terrorism, insurrection or war or delays in obtaining governmental approvals.
For a more detailed discussion of such risks and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements, refer to RNC's filings with Canadian securities regulators available on SEDAR at www.sedar.com.
Although RNC has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended. Forward-looking statements contained herein are made as of the date of this news release and RNC disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or results or otherwise, except as required by applicable securities laws.
Cautionary Statement Concerning Definitive Agreements
The transaction will be subject to TSX approval. The transaction is subject to the parties respective due diligence investigations and customary closing conditions. There is no assurance that the transaction will be completed as planned or at all.
Information Concerning West Raglan Property
Information concerning the West Raglan property in this news release is taken from sources, some of which are historical, that RNC believes to be reliable, but RNC has not verified the information and does not assume responsibility for such third party information. The proximity to two producing nickel mines does not mean the West Raglan project will obtain similar results. West Raglan is an exploration project without any current resource estimates and there is no certainty that any such estimates will ever be established.
Tel: (416) 363-0649
Most Popular Stories
- GE Healthcare Bringing Jobs to Massachusetts
- Spiders Get Bigger, Reproduce Faster in Cities
- Faith Groups Divest From Fossil Fuels
- Apple Stock Bounces Back Big Time
- James Foley Beheading Video Is Real Thing: White House
- Entrepreneur Contest Announced in Idaho
- Why BofA Won't Pay $17 Billion After All
- Notes From the July FOMC Meeting
- Obama Weighs Move on Legal Immigration
- Eric Holder Arrives in Ferguson