ROAD TOWN, Tortola, British Virgin Islands, May 16 /CNW/ - Talon Metals Corp., ("Talon" or the "Company") (TSX: TLO) announces that
an information circular and related materials are being mailed today to
shareholders of record as of May 3, 2011. The annual and special
meeting of Talon shareholders (the "Meeting") is scheduled for Monday
June 6, 2011 in Nassau, Bahamas.
The Meeting has been called for several purposes including for
shareholders to consider and vote on the proposed distribution of Rio
Verde Minerals Corp. ("Rio Verde") shares to Talon shareholders (the
"RV Distribution"), as previously announced in the Company's news
release of April 5, 2011. The anticipated completion of the RV
Distribution, subject to the receipt of all necessary approvals, is
scheduled for no later than June 30, 2011. The number of Rio Verde
shares to be distributed per outstanding Talon share will be announced
prior to the date of distribution. Talon owns approximately 25.6
million shares in Rio Verde.
The RV Distribution will be facilitated through a plan of arrangement
involving Talon, Rio Verde, EM Resources Inc. (a reporting issuer in
Ontario) and a subsidiary of EM Resources Inc. As a result of the
completion of the arrangement, Rio Verde will become a reporting
In addition, Talon shareholders will vote on a resolution on the
shareholder rights protection plan, announced in the Company's news
release of January 17, 2011.
The notice of meeting, information circular and related materials will
be filed on SEDAR at www.sedar.com today.
This news release does not constitute an offer to sell or the
solicitation of an offer to buy any securities in the United States.
The securities described in this news release have not been and will
not be registered under the United States Securities Act of 1933, as
amended, or the securities laws of any state and may not be offered,
sold or delivered in the United States absent registration or an
applicable exemption from registration.
Talon is a TSX-listed company focused on the exploration and development
of its 100% owned Trairão Iron Project in Pará State, Brazil. The
Company has a well-qualified exploration and management team with
extensive experience in exploration and project management.
Talon has a treasury of approximately CDN$34 million and has 91,547,037
common shares outstanding and 105,546,189 shares fully diluted.
This press release contains certain "forward-looking information". All
information, other than information pertaining to historical fact,
which addresses activities, events or developments that Talon believes,
expects or anticipates will or may occur in the future constitutes
forward-looking information. Forward-looking information reflects the
current expectations or beliefs of Talon based on information currently
available to Talon. Such forward-looking information includes, without
limitation, the completion and proposed terms of RV Distribution and
timing related thereto; and the anticipated effect of the RV
Distribution on shareholder value.
Forward-looking information is subject to a number of risks and
uncertainties that may cause the actual results of the Company to
differ materially from those discussed in the forward-looking
information, and even if such actual results are realized or
substantially realized, there can be no assurance that they will have
the expected consequences to, or effects on the Company. Factors that
could cause actual results or events to differ materially from current
expectations include, among other things, risks related to the
exploration stage of the Company's properties, the possibility that
future exploration results will not be consistent with the Company's
expectations (including identifying additional and/or deeper
mineralization), changes in the price of iron ore, changes in equity
markets, political developments in Brazil, uncertainties relating to
the availability and costs of financing needed in the future, changes
to regulations affecting the Company's activities, delays in obtaining
or failures to obtain required regulatory approvals, the uncertainties
involved in interpreting exploration results and other geological data
and the other risks involved in the mineral exploration business.
Forward-looking information speaks only as of the date on which it is
made and, except as may be required by applicable securities laws, the
Company disclaims any intent or obligation to update forward-looking
information, whether as a result of new information, future events or
results or otherwise. Although the Company believes that the
assumptions inherent in the forward-looking information are reasonable,
forward-looking information is not a guarantee of future performance
and accordingly undue reliance should not be put on such information
due to the inherent uncertainty therein.
SOURCE Talon Metals Corp.
For further information:
For additional information on Talon please visit the Company's website at www.talonmetals.com or contact:
VP Investor Relations
Tau Capital Corp.
Tel: (416) 361-9636 x 243