Kinbauri Shareholders Are Advised to Take No Action at This Time
Regarding Orvana's Revised Offer>
Kinbauri Shareholders Are Advised to Take No Action at This Time Regarding Orvana's Revised Offer
(Thomson Reuters ONE) - OTTAWA, ONTARIO--(Marketwire - July 21, 2009) - Kinbauri Gold Corp.("Kinbauri") (TSX VENTURE: KNB)(FRANKFURT: 3KG.DE) has been advisedthat Orvana Minerals Corp. ("Orvana") has raised its all-cash offerfor Kinbauri to C$0.75 per share from C$0.55 (the "Orvana Offer") andthat investors holding 23.6 percent of Kinbauri's outstanding shareshave signed lockup agreements in support of the Orvana Offer. TheOrvana Offer will expire at 11:59 pm (Vancouver time) on July 31,2009, unless withdrawn or extended.On July 12, 2009, Kinbauri announced that it had signed a bindingletter agreement with ATW Gold Corp. (TSX VENTURE: ATW) ("ATW") tocombine the two companies at the agreed exchange ratio of 1.35 ATWshares per Kinbauri share, which implies a purchase price of C$0.85per Kinbauri share using closing share prices on July 10, 2009.Kinbauri's Board of Directors recommends that shareholders do nottake any action (including the tendering of shares) with respect tothe Orvana Offer, until the Special Committee of the Board ofDirectors has completed its review and the Board of Directors has hadan opportunity to fully evaluate the Orvana Offer and communicate itsviews to shareholders.For assistance in withdrawing any shares already tendered, or otherquestions, please contact Laurel Hill Advisory Group, the InformationAgent retained by Kinbauri in connection with the Orvana Offer, tollfree at 1-888-812-9184 from anywhere in Canada or the United Statesand collect at 416-637-4661 from outside North America.About KinbauriKinbauri (TSX VENTURE: KNB) is a mineral exploration company focusedon the development of precious metal prospects in Spain, Nevada andCanada. Its immediate focus is to begin operations at its ElValle/Carles property in Asturias, northwestern Spain in 2010. Itcurrently has 59,348,051 common shares issued and outstanding. Formore information visit www.kinbaurimaximized.com orwww.kinbauri-gold.com.THIS PRESS RELEASE WAS PREPARED BY KINBAURI GOLD CORP. THE TSXVENTURE EXCHANGE DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY ORACCURACY OF THIS RELEASE.This press release contains certain forward-looking statements, whichare based on the opinions and estimates of management at the date thestatements are made, and are subject to a variety of risks anduncertainties and other factors that could cause actual events orresults to differ materially from those projected. Kinbauriundertakes no obligation to update forward-looking statements ifcircumstances or management's estimates or opinions should change.The reader is cautioned not to place undue reliance onforward-looking statements.Contacts:Kinbauri Gold Corp.Mr. Brian McEwenDirector, Special Committee member613-836-2594613-831-2730 (FAX)bmcewen(at)kinbauri-gold.comKinbauri Gold Corp.Darrell Munro, BB.A, LL.B,Manager613-836-0198dmunro(at)kinbauri-gold.comEuropeINVESTELRuediger (Rudy) Hnyk, CEOInvestor Relations & Telecommunicationsceo(at)investel.deThis announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.
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Datum: 21.07.2009 - 22:14 Uhr
Sprache: Deutsch
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