CALGARY, Sept. 5 /CNW/ - (CDS - TSX) - Cadence Energy Inc. ("Cadence") is
pleased to announce that 56.1 million common shares of Cadence have been
validly deposited and taken-up under the offer of Cadence Acquisition Corp., a
wholly-owned subsidiary of Barrick Gold Corporation ("Barrick") to acquire all
of the outstanding common shares of Cadence. The deposited shares represent
over 94% of the outstanding common shares of Cadence.
In accordance with the terms of the previously announced support
agreement with Barrick, it is expected that the Cadence board of directors
will be replaced with Barrick nominees later today.
Advisory Regarding Forward-Looking Statements and Forward-Looking
This press release contains forward-looking statements and
forward-looking information within the meaning of applicable securities laws.
The use of any of the words "expect", "anticipate", "continue", "estimate",
"objective", "ongoing", "may", "will", "project", "should", "believe",
"plans", "intends" and similar expressions are intended to identify
forward-looking information or statements. More particularly and without
limitation, this press release contains forward-looking statements and
information concerning the timing of the making of and the conditions to
completion of the Barrick Offer.
The forward-looking statements and information are based on certain key
expectations and assumptions made by Cadence including expectations and
assumptions concerning the timing of the replacement of the Cadence board of
directors. Although Cadence believes that the expectations and assumptions on
which such forward-looking statements and information are based are
reasonable, undue reliance should not be placed on the forward-looking
statements and information because Cadence can give no assurance that they
will prove to be correct.
Since forward-looking statements and information address future events
and conditions, by their very nature they involve inherent risks and
uncertainties. Accordingly, readers should not place undue reliance on the
forward-looking statements and information contained in this press release
concerning these times.
The forward-looking statements and information contained in this press
release are made as of the date hereof and Cadence undertakes no obligation to
update publicly or revise any forward-looking statements or information,
whether as a result of new information, future events or otherwise, unless so
required by applicable securities laws.
For further information:
For further information: Cadence Energy Inc., Grant Fagerheim, President
and Chief Executive Officer, Phone (403) 290-3401