SCOTTSDALE, AZ, May 7, 2014 /CNW Telbec/ - Chaparral Gold Corp.
("Chaparral") (TSX: CHL) announces that Waterton Precious Metals Fund
II Cayman, LP ("Waterton") has again extended its hostile offer (the
"Hostile Bid") to acquire all of the outstanding common shares of
Chaparral from May 7, 2014 to 5:00 p.m. (Toronto time) on May 21,
2014. The offer price of C$0.50 per share and all other conditions
under the Hostile Bid remain unchanged.
Chaparral continues to pursue value-enhancing alternatives that are in
the best interests of the Chaparral shareholders, although there can be
no assurance that an alternative transaction will arise. As outlined in
Waterton's Notice of Extension of May 7, 2014 only 131,812 shares have
tendered to their bid, representing only approximately 0.1% of the
outstanding shares of Chaparral.
There is no change in the Board of Directors of Chaparral recommendation
that shareholders REJECT the Hostile Bid and DO NOT tender their shares.
About Chaparral Gold
Chaparral is a Nevada-focused precious metals company actively
permitting the 100%-owned Gemfield deposit at the Goldfield property,
in central Nevada. In addition, Chaparral holds a 100% interest in the
advanced-stage Converse property, also located in Nevada.
Some of the statements contained in this release are "forward-looking
statements" within the meaning of Canadian securities law requirements,
including statements relating to the Company's plans in respect of the
Hostile Bid and in respect of its Goldfield property. Such
forward-looking statements involve known and unknown risks,
uncertainties and other factors that may cause our actual results,
performance or achievements to differ materially from the anticipated
results, performance or achievements expressed or implied by such
forward-looking statements. Factors that could cause actual results to
differ materially from anticipated results include risks and
uncertainties such as: risks relating to potential amendments to the
terms of the Hostile Bid by Waterton and risks of arriving at an
alternative transaction. Except as required pursuant to applicable
securities laws, the Company disclaims any intention or obligation to
update or revise any forward-looking statements, whether as a result of
new information, future events or otherwise.
SOURCE: Chaparral Gold Corp
For further information:
In North America:
Tel: 1 480 483 9932
Renmark Financial Communications
Tel: 1 514 939 3989
Tel: +41 44 853 00 47
Or email the Company at: email@example.com
Web Site: www.chaparralgold.com