Wesdome and Moss Lake Announce Closing of Amalgamation
TORONTO, March 28, 2014 /CNW/ - Wesdome Gold Mines Ltd. ("Wesdome") (TSX:WDO) and Moss Lake Gold Mines Ltd. ("Moss Lake") (TSXV:MOK) are pleased to announce that Wesdome has completed its previously announced acquisition of the issued and outstanding common shares of Moss Lake (the "Moss Lake Shares") that it does not already own (the "Acquisition"). As a result, Moss Lake has become a wholly-owned subsidiary of Wesdome. It is anticipated that the Moss Lake Shares will be delisted from the TSX Venture Exchange (the "TSXV") on or about March 31, 2014. Wesdome will also cause Moss Lake to submit an application to cease to be a reporting issuer in each reporting jurisdiction in Canada. Under the terms of the definitive agreement governing the Acquisition, each former shareholder of Moss Lake (other than Wesdome) is entitled to receive one common share of Wesdome for every 3.85 Moss Lake Shares held.
Rowland Uloth, President and Chief Executive Officer of Wesdome stated "Moss Lake adds a potentially world class scale gold development opportunity given favourable economic conditions. Combined with our extensive mining and milling infrastructure and experienced operating team, we are building an enviable portfolio of organic growth projects. We welcome Moss Lake shareholders to the Wesdome family."
Moss Lake shareholders requiring assistance with submitting their Moss Lake Shares for exchange should contact their broker or Computershare Investor Services Inc. at 1-800-564-6253 or email@example.com.
Wesdome is in its 26th year of continuous mining operations in Canada. It currently has two producing gold mines in Wawa, Ontario and owns the Kiena Complex in Val d'Or, Québec.
About Moss Lake
Moss Lake was created in 1994 to consolidate ownership of the Moss Lake gold deposit.
Forward Looking Statements
This press release includes certain statements that constitute "forward‐looking statements" and "forward‐looking information" within the meaning of applicable securities laws (collectively, "forward‐looking statements"). These statements are typically identified by words such as "believe", "anticipate", "estimate", "project", "intend", "expect", "may", "will", "plan", "should", "would", "contemplate", "possible", "attempts", "seeks" and similar expressions. Forward‐looking statements may relate to Wesdome's or Moss Lake's future outlook and anticipated events or results.
By their very nature, forward‐looking statements involve numerous assumptions, inherent risks and uncertainties, both general and specific, and the risk that predictions and other forward‐looking statements will not prove to be accurate. Do not unduly rely on forward‐looking statements, as a number of important factors, many of which are beyond Wesdome's or Moss Lake's control, could cause actual results to differ materially from the estimates and intentions expressed in such forward‐looking statements.
Forward‐looking statements speak only as of the date those statements are made. Except as required by applicable law, neither Wesdome nor Moss Lake assume any obligation to update, or to publicly announce the results of any change to, any forward‐looking statement contained herein to reflect actual results, future events or developments, changes in assumptions or changes in other factors affecting the forward‐looking statements.
Neither the Toronto Stock Exchange, TSXV (nor its Regulation Services Provider, as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this press release.
SOURCE Moss Lake Gold Mines Ltd.For further information:
Wesdome Gold Mines Ltd.
President and Chief Executive Officer
Moss Lake Gold Mines Ltd.