Trading Symbol: ADA: TSXV; ADAIF: OTCQX
HALIFAX,
Oct. 4, 2013 /CNW/ - Acadian Mining
Corporation (the "Company" or "Acadian") (TSXV: ADA) and LionGold
Corp. Ltd. ("LionGold") (Singapore: LIGO) are pleased to announce
that the Supreme Court of Nova
Scotia has approved the arrangement pursuant to Section 192
of the Canada Business Corporations Act proposed under the
terms of an arrangement agreement dated as of July 28, 2013 among Acadian, LionGold Corp. Ltd.
and its wholly owned subsidiary LionGold Mining Canada Inc.
(formerly 9286-0931 Québec Inc.) ("AcquisitionCo"), and to be
effected on the terms and conditions set out in the plan of
arrangement (the "Arrangement"), which had been previously approved
by the shareholders of Acadian at a special meeting held on
October 3, 2013. The effective date
of the Arrangement ("Effective Date") is expected to be on or about
October 11, 2013.
Pursuant to the terms of the Arrangement, on the
Effective Date, LionGold will acquire, through AcquisitionCo, all
of the issued and outstanding common shares of Acadian ("Acadian
Shares") (other than the Acadian Shares currently owned by it or
its affiliates) in consideration of C$0.12 in cash for each Acadian Share. Closing of
the Arrangement is subject to the satisfaction or waiver of the
other conditions to the Arrangement, including receipt of all
necessary regulatory approvals.
Further information on the Arrangement is set
out in Acadian's management information circular dated September 3, 2013 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.
Acadian Shares will continue to trade on the TSX
Venture Exchange under the symbol "ADA" until the end of the
trading day before the Effective Date of the Arrangement.
A Letter of Transmittal has been mailed to all
registered Acadian shareholders and is available on the Company's
profile at www.sedar.com. Copies of the letter of transmittal may
also be obtained by contacting Computershare Investor Services
Inc., the depositary for the Arrangement, or the Company
directly.
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