DGAP-News: Golden Touch Resources Corp.: GOLDEN TOUCH RECEIVES FINAL TSX VENTURE EXCHANGE ACCEPTANCE FOR ACQUISITION
(firmenpresse) - DGAP-News: Golden Touch Resources Corp. / Key word(s):
Acquisition/Merger
Golden Touch Resources Corp.: GOLDEN TOUCH RECEIVES FINAL TSX VENTURE
EXCHANGE ACCEPTANCE FOR ACQUISITION
22.03.2011 / 14:10
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Golden Touch Resources Corp.
Suite 530 - 580 Hornby Street,
Vancouver, B.C., V6C 3B6, Canada
NEWS RELEASE
GOLDEN TOUCH RECEIVES FINAL TSX VENTURE EXCHANGE ACCEPTANCE FOR ACQUISITION
OF JAB RESOURCES LIMITED
March 21, 2011 TSX-V Symbol: GOT
Frankfurt: 0GT
Vancouver, BC: Golden Touch Resources Corp. ('Golden Touch' or the
'Company') (TSX-V Symbol: GOT; Frankfurt: 0GT) is pleased to announce that
it has received final acceptance from the TSX Venture Exchange of the
definitive agreement with Jab Resources Limited ('JAB'), whereby Golden
Touch will acquire, through schemes of arrangement under Australian law
(the 'Arrangement'), all of the outstanding securities of JAB.
The Company now intends to implement the schemes of arrangement involving
JAB and its security holders and acquire all of the outstanding securities
of JAB. In consideration of the JAB securities, the Company will issue JAB
security holders 8,513,607 common shares, warrants to purchase 250,021
common shares at an exercise price of $1.20 per share exercisable until
December 31, 2011 and warrants to purchase 1,925,091 common shares at an
exercise price of $1.80 per share exercisable until December 31, 2011. In
addition, the Company will make a $200,000 cash payment to JAB to cover
administrative costs to date.
Golden Touch is also very pleased to announce the appointment of Mr. Robert
Murdoch a new addition to the Board of Directors and as the Company's new
Chairman upon closing of the acquisition.
Mr. Aly Mawji, President of Golden Touch stated: 'Golden Touch and JAB have
achieved another significant milestone by obtaining TSX-V final acceptance
for the acquisition of JAB. The Company looks forward to completing the
scheme of arrangement over the coming days with security holders of JAB. I
would like to welcome Mr. Rob Murdoch to the Board of Directors and look
forward to advancing on the significant work already completed to date by
JAB and its team. Mr. Murdoch brings over 40 years production and
exploration experience to Golden Touch.'
Mr. Rob Murdoch, Executive Chairman of JAB, and new Chairman of Golden
Touch stated: 'I am very pleased to join the current Board of Golden Touch
with the directive to advance the work of JAB over the last five years. I
feel with the capital market experience Golden Touch brings, along with
JAB's technical expertise, the Company can become an industry leader in
Albania.'
JAB's principal asset (held through its wholly owned subsidiary JAB
Resources SH PK, an Albanian registered company) is the 100-per-cent-owned
Albanian Exploration Projects, a portfolio of exploration permits totalling
approximately 140 sq. km, located in Northern Albania. JAB has already
spent in excess of US$5 million on exploration within the permit areas,
which has resulted in the outlining of significant gold, platinum group
elements (PGE) and chromite mineralization. Golden Touch has filed updated
National Instrument 43-101 ('NI 43-101') compliant technical reports on the
Albanian Exploration Projects with the TSX-V and once they have cleared
comments the updated NI 43-101 reports will be posted on SEDAR.
On Behalf of the Board of Directors
Golden Touch Resources Corp.
'Aly B. Mawji', President
For information with respect to the Company or the contents of this news
release, please contact Aly B. Mawji at 604-306-5415.
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS
THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS
RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS NEWS RELEASE
End of Corporate News
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116429 22.03.2011
Datum: 22.03.2011 - 14:10 Uhr
Sprache: Deutsch
News-ID 33536
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