Pursuant to the terms of the Agreement, Cadillac shareholders will receive 0.12195 of a
The Transaction represents a 121% premium over the closing price of Cadillac shares as of
Within the context of persistent depressed junior equity markets, the means of raising adequate financing to properly explore the large complex gold system at Goldstrike in southwestern
In addition to continued exposure to progress at the Goldstrike project and its interests on the Cadillac Break in
Consequently, the Board of Directors of Cadillac (the "Board") have unanimously approved the Transaction and will recommend that Cadillac shareholders vote in favour of the Transaction. Certain of Cadillac's shareholders, including all of the senior officers and members of the Board have entered into voting and support agreements with
The transaction will be carried out by way of a plan of arrangement, the implementation of which will be subject to shareholder approval representing at least 66 2/3 of the votes cast at a special meeting of Cadillac shareholders that is expected to be held in
The terms and conditions of the Agreement will be disclosed in more detail in the Cadillac management information circular which is expected to be filed and mailed to Cadillac shareholders in July 2014. It is anticipated that the Transaction, if approved by Cadillac's shareholders, will be completed in late August 2014. Copies of the Plan of Arrangement and management information circular will be filed with Canadian securities regulators and will be available under Cadillac's company profile at www.sedar.com.
Under the Agreement,
For further information: Website www.cadillacmining.com Company Victor Erickson 604-684-7300 President & CEO firstname.lastname@example.org
THIS NEWS RELEASE WAS PREPARED BY MANAGEMENT WHICH TAKES FULL RESPONSIBILITY FOR ITS CONTENTS. THE TSX-VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX-VENTURE EXCHANGE) DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
This news release contains "forward-looking information" within the meaning of the Canadian securities laws. Forward-looking information is generally identifiable by use of the words "believes," "may," "plans," "will," "anticipates," "intends," "budgets", "could", "estimates", "expects", "forecasts", "projects" and similar expressions, and the negative of such expressions. Forward-looking information in this news release include statements about the consummation of the proposed transaction and obtaining necessary shareholder, court, and regulatory approval.
In connection with the forward-looking information contained in this news release, Cadillac has made numerous assumptions, regarding, among other things: successful completion of the Plan of Arrangement, obtaining governmental approvals and financing on time, obtaining renewals for existing licenses and permits and obtaining required licenses and permits.
Additionally, there are known and unknown risk factors which could cause Cadillac's actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information contained herein. Known risk factors include, among others: risks related to approval by the applicable governmental or regulatory authorities, the risk that the parties will not obtain the required shareholder approval and necessary court and stock exchange approvals, risks related to the satisfaction or waiver of certain other conditions contemplated by the arrangement agreements, risks related to the availability of financing and the future price of metals, risks regarding timing and amount of expenses related to the to the transaction, as well as those risk factors described in Cadillac's public filings under its profile at www.sedar.com.
All forward-looking information herein is qualified in its entirety by this cautionary statement, and Cadillac disclaims any obligation to revise or update any such forward-looking information or to publicly announce the result of any revisions to any of the forward-looking information contained herein to reflect future results, events or developments, except as required by law.
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