VANCOUVER, June 14, 2013 /CNW/ - Coronado Resources Ltd. (TSX-V: CRD) and (OTCQX: CRDAF) ("Coronado") is pleased to provide an update on Coronado's proposed
change of business acquisition of all of the outstanding common shares
of Opunake Hydro Limited from TAG Oil Ltd. and Opunake Hydro Holdings
Limited in exchange for common shares of Coronado (the "OHL
Acquisition"), which was announced on May 14, 2013. As the OHL
Acquisition is subject to the approval of the shareholders of Coronado,
Coronado is currently preparing the notice of meeting and management
information circular that will call the shareholders' meeting and
describe the OHL Acquisition as well as the requisite materials to
receive the approval of the TSX Venture Exchange. Also, Coronado is in
the process of applying for the requisite regulatory approval in New
Zealand. Coronado expects that the OHL Acquisition will be completed
during the third calendar quarter of 2013.
Completion of the OHL Acquisition is subject to a number of conditions,
including Exchange acceptance and disinterested Shareholder approval.
The OHL Acquisition cannot close until the required shareholder
approval is obtained. There can be no assurance that the OHL
Acquisition will be completed as proposed or at all.
The TSX-V has in no way passed upon the merits of the proposed OHL
Acquisition and has neither approved nor disapproved the contents of
this press release.
Neither TSX-V nor its Regulation Services Provider (as that term is
defined in the policies of the TSX-V) accepts responsibility for the
adequacy or accuracy of this release.
Cautionary Note Regarding Forward-Looking Statements:
Statements contained in this news release that are not historical facts
are forward-looking statements that involve various risks and
uncertainty affecting the business of Coronado and the OHL Acquisition.
Such statements can generally, but not always, be identified by words
such as "expects", "plans", "anticipates", "intends", "estimates",
"forecasts", "schedules", "prepares", "potential" and similar
expressions, or that events or conditions "will", "would", "may",
"could" or "should" occur.
Forward-looking statements and information concerning anticipated
financial performance are based on management's assumptions using
information currently available. Forward-looking statements in this
news release include Coronado's expectations regarding the ability to
complete, and the anticipated timing of, the OHL Acquisition.
In making the forward-looking statements in this news release, Coronado
has applied certain factors and assumptions that are based on
information currently available to Coronado as well as Coronado's
current beliefs and assumptions made by Coronado, including that
Coronado will be able to complete the OHL Acquisition and that all
requisite approvals will be obtained. Although Coronado considers
these beliefs and assumptions to be reasonable based on information
currently available to it, they may prove to be incorrect, and the
forward-looking statements in this release are subject to numerous
risks, uncertainties and other factors that may cause future results to
differ materially from those expressed or implied in such
forward-looking statements. Such risk factors include, among others,
that the regulators or the shareholders do not approve the OHL
Acquisition or that OHL's operations do not continue at their current
levels. Although Coronado has attempted to identify important factors
that could cause actual results to differ materially from those
contained in forward-looking information, there may be other factors
that cause results not to be as anticipated, estimated or intended.
There can be no assurance that such information will prove to be
accurate, as actual results and future events could differ materially
from those anticipated in such statements. Accordingly, readers should
not place undue reliance on forward-looking information. Coronado does
not undertake to update any forward-looking information, except in
accordance with applicable securities laws.
SOURCE: CORONADO RESOURCES LTD.
For further information:
Daniel Brown, CEO
Phone at 604-683-6338