ENP Newswire -
Release date- 01082014 -
Upon closing of the Arrangement,
Terms of the Arrangement
Under the terms of the Arrangement:
A total of approximately 23 million Abacus Shares are expected to be issued in connection with the Arrangement, representing approximately 10% of the outstanding Abacus Shares on completion of the Arrangement.
On closing of the Arrangement,
Each of the directors and officers of
The Arrangement is subject to a number of closing conditions including, but not limited to, a confirmatory due diligence review of
Information Regarding Burnstone
Additional Information Regarding the Arrangement
The terms of the Arrangement will be described in further detail in the management information circular of Abacus to be filed with the regulatory authorities and mailed to the Abacus shareholders. A copy of the Abacus information circular and other materials related to the Arrangement will be available for review as they become available at www.sedar.com under Abacus' profile.
Joint Venture Loan
To facilitate the Arrangement, Abacus also signed a loan and security agreement for a term loan facility of
As a condition of the loan, Abacus has agreed to continue to contribute its 20% share of the 2014 and 2015 programs and budget towards development of the
We intend to create significant value by making use of this funding to continue with the advancement of the Tomichi project while maintaining our 20% interest in the
Abacus is a mineral exploration and mine development company with a 20% interest in the
This document may contain 'forward-looking information' within the meaning of Canadian securities legislation and 'forward-looking statements' within the meaning of the United States Private Securities Litigation Reform Act of 1995 (collectively, 'forward-looking statements'). These forward-looking statements are made as of the date of this release.
All statements in this release, other than statements of historical facts, that address events or developments that Abacus expects to occur, are forward-looking statements. Such forward-looking statements include, but are not limited to, statements with respect to the timing and implementation of the Arrangement, the integration of Abacus and
Although Abacus believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements.
Assumptions upon which such forward-looking statements are based include that Abacus and
Many of these assumptions are based on factors and events that are not within the control of Abacus or
In certain cases, forward-looking statements can be identified by the use of words such as 'plans', 'expects' or 'does not expect', 'is expected', 'budget', 'potential', 'scheduled', 'estimates', 'forecasts', 'intends', 'anticipates' or 'does not anticipate', or 'believes', or variations of such words and phrases or statements that certain actions, events or results 'may', 'could', 'would', 'might' or 'will be taken', 'occur' or 'be achieved' or the negative of these terms or comparable terminology.
By their very nature forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Abacus to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Such factors include, among others, market prices; exploration and development successes; continued availability of capital and financing and general economic, market or business conditions.
Please see our public filings on SEDAR at www.sedar.com. Although Abacus 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 not to be as anticipated, estimated or intended. Abacus provides no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements.
Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of Abacus' management on the date the statements are made.
Except as required by applicable securities laws, Abacus undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change. Accordingly, readers should not place undue reliance on forward-looking statements.
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