Trading Symbol: ADA: TSXV; ADAIF: OTCQX
HALIFAX, Oct. 11, 2013 /CNW/ - Acadian Mining Corporation (the "Company"
or "Acadian") (TSXV: ADA) and LionGold Corp. Ltd. ("LionGold")
(Singapore: LIGO) announced that they concluded the arrangement today
by which LionGold, through its wholly-owned subsidiary LionGold Mining
Canada Inc. (formerly 9286-0931 Québec Inc.) acquired all of the common
shares of Acadian ("Acadian Shares") that it did not already own (the
"Arrangement"). Effective today, LionGold directly or indirectly owns
100% of the outstanding shares of Acadian. This announcement comes
following the approval of the Arrangement by the Company's shareholders
on October 3, 2013 and the issuance of a final order of the Supreme
Court of Nova Scotia on October 4, 2013 approving the Arrangement.
Under the Arrangement, Acadian shareholders (other than LionGold and its
affiliates) received C$0.12 in cash for each Acadian Share. Registered
shareholders of Acadian are reminded that, in order to receive the cash
consideration for their Acadian Shares, they must complete and sign the
letter of transmittal and deliver it, together with certificates
representing their Acadian Shares and any other required documents, to
the depositary for the Arrangement, Computershare Investor Services
Inc. ("Computershare"), in accordance with the instructions specified in the letter of
transmittal and Acadian's management information circular dated
September 3, 2013, copies of which are available on SEDAR at www.sedar.com.
Beneficial owners of Acadian Shares whose Acadian Shares are registered
in the name of a broker, investment dealer, bank, trust company,
depositary or other nominee should contact that nominee to determine
how the nominee will arrange to have the Acadian Shares delivered to
Computershare in exchange for the cash consideration payable pursuant
As a result of the Arrangement, trading of the Acadian Shares on the TSX
Venture Exchange (the "Exchange") will be halted prior to the opening of the markets on October 11,
2013 and the Acadian Shares are expected to be delisted from the
Exchange shortly. In addition, Acadian will make the required
applications and filings with the relevant Canadian securities
regulatory authorities in order for Acadian to cease to be a reporting
issuer or the equivalent in the relevant Canadian provinces.
Acadian is a Halifax, Nova Scotia, based company with several gold
projects located in Atlantic Canada. The Company also owns barite
properties on Cape Breton Island, Nova Scotia. Acadian's primary focus
is centered on exploration and development of its two core gold
deposits, namely the Fifteen Mile Stream and Beaver Dam Projects.
Neither the TSX Venture Exchange nor its Regulation Services Provider
(as that term is defined in policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release.
SOURCE: Acadian Mining Corporation
For further information:
President and Chief Executive Officer,
Acadian Mining Corporation
Tan Soo Khoon Raymond
Director & Group General Counsel,
LionGold Corp. Ltd.
+65 6690 6864