HALIFAX AND VANCOUVER, April 23, 2014 /CNW/ - GoGold Resources Inc.
(TSX: GGD) ("GoGold") and Animas Resources Ltd. (TSXV: ANI) ("Animas") announce today the successful completion of the previously announced
arrangement (the "Arrangement") whereby GoGold has acquired, by way of court approved plan of
arrangement, 100% of the issued and outstanding securities of Animas.
Animas' shares will be delisted from the TSX Venture Exchange effective
as of the close of business today. In addition, Animas will begin the
process of applying to cease being a reporting issuer or the equivalent
in the relevant Canadian provinces.
Pursuant to the terms of the Arrangement, holders of common shares of
Animas ("Animas Shares") received $0.07 in cash and 0.0851 of a common share of GoGold (each a
"GoGold Share") for each Animas Share (for a deemed offer price of $0.15 for each
Animas Share based on the closing price of GoGold Shares on December
27, 2013 (the "Deemed Price")), and one GoGold Share for each $0.94 of cumulative in-the-money
value of Animas options ("Animas Options"), calculated using the Deemed Price, rounded down to the nearest whole
Following the Arrangement, GoGold owns and controls 100% of the issued
and outstanding Animas Shares. All outstanding Animas Options and
other convertible securities were cancelled pursuant to the
The GoGold Shares have been conditionally approved for listing on the
Toronto Stock Exchange ("TSX"), subject to receipt by the TSX of certain standard documentation
required by it in connection with completion of the Arrangement.
GoGold's counsel for the Arrangement is Fasken Martineau DuMoulin LLP
and its corporate counsel is JESSOMELAW. Animas' counsel is McCullough
O'Connor Irwin LLP.
GoGold Forward-Looking Statement
Except for statements of historical fact, this news release contains
certain "forward-looking information" and "forward-looking statements"
within the meaning of applicable securities laws including statements
regarding the terms of the Arrangement and timing of the Arrangement.
Such forward-looking information and forward-looking statements are
based on the opinions and estimates of management at the date the
statements are made, and are subject to known and unknown risks,
uncertainties and assumptions that could cause actual results to vary
materially from the anticipated results or events predicted in these
forward-looking information or forward-looking statements, including:
GoGold's assessment of the effect of the Arrangement on GoGold, Animas
and Animas' shareholders; the continuance of GoGold and its
subsidiaries as a going concern; general economic and market
conditions; mineral prices; the accuracy of mineral resource estimates
and the speculative nature of mineral exploration. There can be no
assurance that such information will prove to be accurate and actual
results and future events could differ materially from those
anticipated in such forward-looking information or forward-looking
statements. As a result, readers are cautioned not to place undue
reliance on these forward-looking information or forward-looking
statements. The forward-looking information and forward-looking
statements contained in this news release are made as of the date of
this release. Except as required by applicable law, GoGold disclaims
any intention and assumes no obligation to update or revise any
forward-looking information or forward-looking statements, whether as a
result of new information, future events or otherwise. For additional
information with respect to risk factors applicable to GoGold,
reference should be made to GoGold's continuous disclosure materials
filed from time to time with securities regulators, including, but not
limited to, GoGold's Annual Information Form.
Animas Forward-Looking Statement
This press release contains "forward-looking information" which may
include, but is not limited to, statements with respect to Animas'
management information circular, plans, projections, estimates and
expectations. Such forward-looking statements reflect Animas' current
views with respect to future events and are subject to certain risks,
uncertainties and assumptions, including, the risks and uncertainties
outlined in our most recent financial statements and reports and
registration statement filed with the Canadian securities
administrators (available at www.sedar.com). Should one or more of
these risks or uncertainties materialize, or should underlying
assumptions prove incorrect, actual results may vary materially from
those anticipated, believed, estimated or expected. The factors which
could cause actual results or events to differ materially from current
expectations include, but are not limited to: actions taken by GoGold;
the possible effect of the Arrangement on Animas' business; and other
factors identified and in Animas' filings with applicable Canadian
securities regulatory authorities filed on SEDAR and available at
Neither TSX Venture Exchange nor its Regulation Services Provider (as
that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release.
SOURCE: Animas Resources Ltd.
For further information:
For further information, contact Terence F. Coughlan, President and CEO,
Sean Tufford, Vice President, Corporate Development GoGold Resources Inc.,
T: 902 482-1998
F: 902 442-1898
Email : email@example.com
Or visit : www.gogoldresources.com
For additional information, contact Animas Resources Ltd. at 604-687-6197, or you may register to receive future news releases at www.animasresources.com.