SCOTTSDALE, AZ, Aug. 1, 2014 /CNW Telbec/ - Chaparral Gold Corp.
("Chaparral" or the "Company") (TSX: CHL) announced today that the
revised hostile take-over bid (the "Revised Offer") made by Waterton
Precious Metals Fund II Cayman, LP ("Waterton") on July 17, 2014 to
acquire for cash at a price of $0.55 per share 100% of the common
shares of the Company has expired. Waterton has taken-up 19,811,204
shares, representing approximately 16.8% of the issued and outstanding
shares of the Company.
Waterton now has beneficial ownership of and exercises control or
direction over, 23,214,704 Shares, representing approximately 19.7% of
the issued and outstanding common shares of the Company.
Nick Appleyard, CEO of Chaparral, stated "Firstly I would like to thank
the shareholders who recognize the value of our properties in Nevada
and did not tender their shares. Management can now focus on advancing
the Company on multiple value-enhancing fronts: i) continue with the
permitting at Gemfield, ii) continue negotiating with the EPA and
evaluate other strategies for mitigating the potential liability at
Eureka Nevada, and iii) continue to aggressively pursue corporate
alternatives to add shareholder value."
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 Eureka smelter site issue, in
respect of potential higher value proposals for the Company and in
respect of the Company's 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 a potential resolution of the Eureka smelter site issue and
permitting activities at Goldfield. 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