LUCERNE, Switzerland, June 27, 2012 /CNW/ - Iberian Minerals Corp. (TSX VENTURE:IZN)
Reference is made to the Notice of Meeting and Management Information Circular of Iberian Minerals Corp. ("Iberian") dated May 22, 2012 in respect of the Annual and Special Meeting of Shareholders held on June 19, 2012.
Management of Iberian is pleased to confirm that all of the matters presented at the meeting were approved by the shareholders of Iberian including the proposed transfer of the corporate seat to Jersey, Channel Islands. The proposed transfer is subject to obtaining binding and unconditional tax rulings from the tax authorities of the Canton of Lucerne and the Swiss Federal Tax Administration confirming that following completion of the transfer of the corporate seat, Iberian will maintain its tax residency with respect to income tax, capital tax, withholding tax and stamp tax in Lucerne, Switzerland.
Management anticipates receiving a response to the applications for the tax rulings in the third quarter and, assuming favorable rulings, will move to complete the corporate migration. Assuming the corporate migration is completed, management of Iberian understands that Trafigura Beheer B.V., the indirect owner of over 98% of Iberian's issued and outstanding registered shares, intends to use procedures available under Jersey corporate law, to complete the acquisition of the minority interest in Iberian.
Subsequently to the transfer of the Corporate Seat to Jersey, Channel Islands, the new corporate name will become "Iberian Minerals Corp. plc"
Following such acquisition, management intends to apply to delist the Registered Shares from the TSX Venture Exchange.
There can be no assurance that favorable tax rulings will be obtained or that the corporate migration will be completed within the time frame proposed, or at all.
Management of Iberian is also pleased to communicate the re-election of Directors for the ensuing year. Accordingly, Norman Brewster, Jeremy Weir, Jesus Fernandez Lopez, Lionel J. Gunter and Phillipe Blavier have been re-elected as Directors of Iberian.
Iberian Minerals Corp. is a Canadian listed global base metals company with interests in Spain and Peru. The Condestable Mine, located in Peru approximately 90 km south of Lima operates at 2.4 million tonnes per year producing copper, and associated silver and gold in a concentrate. The Aguas Tenidas Mine is in the Andalucia region of Spain approximately 110 km north-west of Seville and operates a 2.2 million tonnes per year underground mine and concentrator that produces copper, zinc and lead concentrates that also contain gold and silver.
FORWARD LOOKING STATEMENTS:
This news release contains "forward-looking statements" and "forward-looking information", based on assumptions and judgments of management regarding future events and results. Such "forward-looking statements" and "forward-looking information" may include, but is not limited to, statements regarding the intentions of Trafigura to acquire all of the outstanding Registered Shares that it does not currently own and to apply to the TSXV to delist. Many of these assumptions are based on factors and events that are not within the control of Iberian and there is no assurance they will prove to be correct. Often, but not always, forward-looking information can be identified by the use of words such as "intends" (including negative variations) of such words and phrases, or state that certain actions, events or results "may", "would", or "will" be taken, occur or be achieved. The purpose of forward-looking information is to provide the reader with information about the intentions of Trafigura. Readers are cautioned that forward-looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Iberian to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. There can be no assurance that forward-looking information will prove to be accurate. Accordingly, readers should not place undue reliance on forward looking information.
For further information:
Iberian Minerals Corp.
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