TORONTO, July 20, 2015 /CNW/ - NWM Mining Corporation ("NWM" or the "Company") (TSX-V: NWM) announces that that it has received today a final order from the Ontario Superior Court of Justice (Commercial List) approving the proposed arrangement (the "Arrangement") among NWM, GFM Minería, S.A.P.I. de C.V. ("GFMM"), and one of its affiliates, and the Company's lender, Global Resource Fund ("Global") previously announced on June 8, 2015.
Under the Arrangement, GFMM will acquire, for cash, all of the issued and outstanding common shares of NWM ("NWM Shares") for cash consideration of C$0.005 per NWM Share.
Completion of the Arrangement remains subject to the satisfaction or waiver of all remaining conditions precedent, all of which are proceeding. NWM will continue to provide updates as the Arrangement advances towards completion.
About NWM Mining Corporation:
NWM is in commercial gold production at its wholly owned Lluvia-Jojoba gold mine. The mine is an open pit heap leach operation in Sonora State, Mexico.
On behalf of Management and the Board:
"Darren Koningen", President and CEO "Mark Selby", Chairman
Cautionary Note Regarding Forward Looking Information
Certain information set forth in this press release contains "forward-looking statements", and "forward-looking information under applicable securities laws. Except for statements of historical fact, certain information contained herein constitutes forward-looking statements, which include the Company's expectations about the completion of the Arrangement, and are based on the Company's current internal expectations, estimates, projections, assumptions and beliefs, which may prove to be incorrect. Some of the forward-looking statements may be identified by words such as "will", "expects", "anticipates", "believes", "projects", "plans", and similar expressions. These statements are not guarantees of future performance and undue reliance should not be placed on them. Such forward-looking statements necessarily involve known and unknown risks and uncertainties, which may cause the Company's actual performance and financial results in future periods to differ materially from any projections of future performance or results expressed or implied by such forward-looking statements. These risks and uncertainties include, but are not limited to: the successful completion of the Arrangement and an inability to satisfy the conditions required to complete the Arrangement; the timing and receipt of certain approvals and unanticipated events related to political risk, social unrest, and changes in general economic conditions or conditions in the financial markets; liabilities inherent in mine development and production; geological, mining and processing technical problems; mine permits and regulatory approvals required in connection with mining and mineral processing operations; competition for, among other things, capital, acquisitions of reserves, undeveloped lands and skilled personnel; incorrect assessments of the value of acquisitions; changes in commodity prices and exchange rates; currency and interest rate fluctuations; various events that could disrupt operations and/or the transportation of mineral products, including labour stoppages and severe weather conditions; the demand for and availability of rail, port and other transportation services; the ability to secure adequate financing, and management's ability to anticipate and manage the foregoing factors and risks. There can be no assurance that forward-looking statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. The Company undertakes no obligation to update forward-looking statements if circumstances or management's estimates or opinions should change except as required by applicable securities laws.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy of this press release.
SOURCE NWM Mining Corporation
For further information: please contact NWM Mining Corporation at (416) 364-6799.