|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 the Arrangement.
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