/NOT FOR DISTRIBUTION IN THE UNITED STATES OR FOR DISSEMINATION TO US
NEWS WIRE SERVICES./
LONDON, UK, Oct. 10, 2013 /CNW/ - Afferro Mining Inc. ("Afferro" or the
"Company") announces that on 9 October 2013 the British Columbia
Supreme Court issued a final order approving the previously announced
proposed acquisition by International Mining & Infrastructure
Corporation Plc ("IMIC") of 100% of the issued and outstanding share
capital of Afferro pursuant to a plan of arrangement (the
Completion of the Arrangement remains conditional on, inter alia, approval by IMIC shareholders and the satisfaction or waiver of the
conditions to closing, including receipt of all necessary regulatory
approvals, all of which are more particularly set forth in the
arrangement agreement made among IMIC, Afferro and a wholly-owned
subsidiary of IMIC dated 23 June 2013, as amended 18 July 2013 and 12
September 2013 (the "Arrangement Agreement").
About Afferro Mining Inc.
Afferro is an established exploration and development company listed on
the TSX-V (AFF) and AIM (AFF). Afferro's portfolio includes the 100%
owned Nkout, Ntem and Akonolinga iron ore projects. It also holds a 70%
interest in the Ngoa project, an exploration target bordering Nkout.
All projects are subject to government rights. Nkout has an Indicated
Mineral Resource Estimate of 1.6Bt at 33.3% Fe and an Inferred Mineral
Resource Estimate of 0.9Bt at 30.8% Fe. Ntem has an Indicated Mineral
Resource Estimate of 39.2Mt at 34.0% Fe and an Inferred Mineral
Resource Estimate of 76.4Mt at 34.2% Fe.
Forward Looking Statements
This announcement includes certain forward-looking statements. All
statements, other than statements of historical fact, included herein
are forward-looking statements that involve various known and unknown
risks and uncertainties as well as other factors. Such forward looking
statements are subject to a number of risks and uncertainties that may
cause actual results or events to differ materially from current
expectations. There can be no assurance that such statements will prove
to be accurate and actual results and future events could differ
materially from those anticipated in such statements.
Information about the risks and uncertainties of the Company's business
is provided in its disclosure materials, including its Annual
Information Form and the MD&A for the 12 months ended 31 December 2012,
available under the Company's profile on SEDAR at www.sedar.com. Although the Company has attempted to identify important factors that
could cause actions, events or results to differ materially from those
described in forward looking information, there may be other factors
that cause actions, events or results not to be as anticipated,
estimated or intended.
This news releases contains forward-looking statements concerning the
expected completion date of the Arrangement. There can be no assurance
that the Arrangement will occur or that the anticipated strategic
benefits and operational, competitive and cost synergies will be
realized. The Arrangement remains conditional on approval by IMIC
shareholders and the satisfaction or waiver of the conditions to
closing, including receipt of all necessary regulatory approvals, and
there can be no assurance that any such approvals will be obtained in a
timely manner or at all and/or any such conditions will be met.
The Arrangement could be modified, restructured or terminated. Readers
are cautioned that the foregoing list of factors is not exhaustive.
Other risks and uncertainties not presently known to Afferro or that
Afferro presently believes are not material could also cause actual
results or events to differ materially from those expressed in the
forward-looking statements contained herein.
There can be no assurance that forward looking information will prove to
be accurate, as actual results and future events could differ
materially from those anticipated in such information. Accordingly,
readers should not place undue reliance on forward-looking information.
The forward-looking information contained herein, speaks only as of the
date hereof (unless stated otherwise) and, except as may be required by
applicable law, Afferro disclaims any obligation to update or modify
such forward-looking statements, either as a result of new information,
future events or for any other reason.
Neither 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: Afferro Mining Inc.
For further information:
For further information please see the Company's website at www.afferro-mining.com or contact one of the following:
Afferro Mining Inc.
Luis da Silva / Jeremy Cave
Tel: +44 (0) 20 7010 7680
Canaccord Genuity Limited
Melissa So / Joe Weaving
Tel: +44 (0) 20 7523 8000
Investec Bank Plc
Nominated Adviser and Joint Broker:
Chris Sim / Jeremy Ellis / George Price
Tel: +44 (0) 20 7597 5970
RBC Capital Markets
Joint Broker: Martin Eales / Richard Hughes
Tel: +44 (0) 20 7653 4000
Pelham Bell Pottinger
Daniel Thöle / James MacFarlane
Tel: +44 (0) 20 7861 3232