Trading Symbol: ADA: TSXV; ADAIF: OTCQX
HALIFAX,
Oct. 3, 2013 /CNW/ - Acadian Mining
Corporation (the "Company" or "Acadian") (TSXV: ADA) and LionGold
Corp. Ltd. ("LionGold") (Singapore: LIGO) are pleased to announce
that at the special meeting of shareholders held today, the
shareholders of Acadian ("Acadian Shareholders") approved the
resolution authorizing the previously announced plan of arrangement
involving Acadian, LionGold Corp. Ltd. and its wholly owned
subsidiary LionGold Mining Canada Inc. (formerly 9286-0931 Québec
Inc.) (the "Arrangement"), as well as a reduction in the stated
capital of the common shares of Acadian proposed in connection with
the Arrangement.
The above-mentioned resolutions each required
the approval of 66⅔% of the votes cast by Acadian Shareholders. At
the meeting, over 81% of Acadian Shareholders were represented in
person or by proxy and, of those, over 99% voted in favour of the
Arrangement and reduction in stated capital. Under the terms of the
Arrangement, Acadian Shareholders (other than LionGold or its
affiliates) will receive C$0.12 in
cash for each common share of the Company they hold on the
effective date of the Arrangement, all as more particularly
described in Acadian's management information circular dated
September 3, 2013 (the
"Circular").
The Arrangement remains subject to, among other
things, the final approval of the Supreme Court of Nova Scotia. The hearing for the final order
of the Court to approve the Arrangement is scheduled to occur on
October 4, 2013 and the effective
date of the Arrangement is expected to be on or about October 11, 2013.
Further information on the Arrangement is set
out in the Circular and the joint news release of Acadian and
LionGold dated July 29, 2013, which
are available on the Company's profile on SEDAR at
www.sedar.com.
About Acadian
Acadian is a Halifax, Nova Scotia,
based company with several gold projects located in Atlantic Canada. The Company also owns barite
properties on Cape Breton Island, Nova
Scotia. Acadian's primary focus is centered on exploration
and development of its two core gold deposits, namely the Fifteen
Mile Stream and Beaver Dam Projects.
For additional information on Acadian's
properties and activities, please visit its website at:
www.acadianmining.com.
About LionGold Corp Ltd
LionGold Corp Ltd is Singapore's
first Main Board listed gold company. LionGold has rapidly
established itself in the global gold mining industry. Since
March 2012, interests in seven gold
exploration and mining companies have been acquired, two of which
are in production. Primary concessions are currently in
Australia, Ghana and Bolivia. Future expansion will be achieved
through further acquisitions and organic growth. For more
information visit: www.liongoldcorp.com.
Forward-Looking Statements
Certain information contained in this news release, including any
information relating to the proposed transaction (the
"Transaction") and Acadian's future financial or operating
performance may be deemed "forward-looking". These statements
relate to future events or future performance and reflect Acadian's
expectations regarding the Transaction, and the future growth,
results of operations, business prospects and opportunities of
Acadian and the combined company. These forward-looking statements
also reflect Acadian's current internal projections, expectations
or beliefs and are based on information currently available to
Acadian, respectively. In some cases forward-looking information
can be identified by terminology such as "may", "will", "should",
"expect", "intend", "plan", "anticipate", "believe", "estimate",
"projects", "potential", "scheduled", "forecast", "budget" or the
negative of those terms or other comparable terminology.
Assumptions upon which such forward looking information regarding
completion of the Transaction is based include that Acadian will be
able to satisfy the conditions to the Transaction, that all third
party regulatory and governmental approvals to the Transaction will
be obtained and all other conditions to completion of the
Transaction will be satisfied or waived. Although Acadian believes
that the expectations reflected in such forward-looking statements
are reasonable, it can give no assurance that such expectations
will prove to have been correct. Acadian cautions that actual
performance will be affected by a number of factors, many of which
are beyond Acadian's control, and that future events and results
may vary substantially from what Acadian currently foresees.
Accordingly, readers are cautioned against placing undue reliance
on forward-looking information. Acadian expressly disclaims any
intention or obligation to update or revise any forward-looking
information, whether as a result of new information, events or
otherwise, except in accordance with applicable securities laws.
Discussion of the various factors that may affect future results is
contained in Acadian's Annual Information Form dated March 29, 2012 and Acadian's management
information circular dated September 3,
2013, which are available at www.sedar.com. Acadian's
forward looking statements are expressly qualified in their
entirety by this cautionary statement.
Neither the TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in policies
of the TSX Venture Exchange) accepts responsibility for the
adequacy or accuracy of this release.
SOURCE Acadian Mining Corporation