Zara Resources (CNSX:ZRI) Mails Offering Material Documents to Shareholders of Visible Gold (TSXV:VGD) - Video Posted on InvestmentPitch.com
(Thomson Reuters ONE) -
Vancouver, British Columbia, June 21, 2013 - Zara Resources (CNSX:ZRI), has
followed up its recent offer to purchase up to 19.9% of the shares of Visible
Gold Mines (TSXV:VGD), by sending out a letter to shareholders containing all
the documents required to tender the Visible shares.
Danny Wettreich, President and CEO of Zara commented that the offer price is a
premium of 125% to the price of Visible shares prior to the offer.
InvestmentPitch.com has produced a "video news alert" about this offer by Zara.
If this link is not enabled, please visit www.InvestmentPitch.com and enter
"Zara" in the search box.
Mr. Wettreich stated, "I am also a shareholder of Visible. I have requisitioned
a Special Meeting of the shareholders of Visible in order to replace the current
board of directors of Visible with Zara's nominees, and I am seeking your
support."
According to the latest news release issued by Zara Resources:
* The current Directors only own 1.6% of Visible's shares
* They have received $769,585 in fees in the last 3 years
* They have spent over $12 million with little result and no commercially
viable gold deposit being identified
* They recently stated ".a significantly depressed share price provides the
Corporation with few alternatives other than to significantly reduce its
exploration activities."
In addition, Mr. Wettreich stated that, "Despite being inactive, the Current
Directors continue to draw their fees. With that record, there is no reason for
the Visible shareholders to continue with the Current Directors."
All information regarding the offer, including the proposed new slate of Visible
Gold directors, the reasons why current Visible shareholders should tender their
shares, and the Letter of Transmittal are available for viewing at
www.ZaraVisibleSupportTheNewBoard.com.
The Offer to purchase up to 11,369,767 shares of Visible Gold, representing up
to 19.9% of the issued and outstanding shares of Visible, is open only to
Accredited Investors, as defined in applicable securities legislation, that are
domiciled in Canada. The Offer will remain open until July 25, 2013.
The Offer is priced at $0.03375 per share to be satisfied by the issuance of
Zara shares, with tendering shareholders receiving 0.28125 shares of Zara in
exchange for each tendered share of Visible.
Zara is a Toronto based mineral company developing its Forge Lake gold project
and its Pigeon River nickel-copper project in Ontario.
Zara is currently trading at $0.12, and with 33.4 million shares outstanding, is
capitalized at $4 million.
For more information about Zara, please visit the company's website at
www.ZaraResourcesInc.com, call Danny Wettreich at 647-931-9775 or email
dw(at)zararesourcesinc.com.
About InvestmentPitch
InvestmentPitch.com, a multimedia company that provides a combined solution for
creating and hosting financial video content, and distributing it across
multiple platforms to investors and financial professionals, specializes in
producing three minute videos based on news releases and research reports.
CONTACT:
InvestmentPitch.com
Barry Morgan, CFO
bmorgan(at)investmentpitch.com
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(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: InvestmentPitch via Thomson Reuters ONE
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Unternehmensinformation / Kurzprofil:
Datum: 21.06.2013 - 23:36 Uhr
Sprache: Deutsch
News-ID 272216
Anzahl Zeichen: 4112
contact information:
Kategorie:
Business News
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