TORONTO, Nov. 30, 2011 /CNW/ - RAP Acquisition Corp. (NEX: RAP.H) ("RAP") is pleased to announce that the shareholders of RAP approved the
amalgamation (the "Amalgamation") of RAP with Ferrum Americas Mining Inc. ("Ferrum Americas") and related matters including the consolidation of RAP's common
shares on the basis of one post-consolidation common share for every 5
common shares issued and outstanding immediately before the
consolidation (the "Consolidation"). RAP completed the Consolidation on November 29, 2011. The
Amalgamation is expected to be effective on November 30, 2011.
The TSX Venture Exchange (the "TSXV") had conditionally approved the qualifying transaction of RAP. In
addition, the TSXV has conditionally approved the listing of the shares
of the amalgamated corporation on the TSXV. Listing of the shares is
subject to Ferrum Americas fulfilling all of the requirements of the
TSXV on or before February 7, 2011.
Completion of the Amalgamation is subject to a number of conditions,
including but not limited to, TSXV acceptance. There can be no
assurance that the Amalgamation will be completed as proposed or at
all. Investors are cautioned that, except as disclosed in the
Information Circular of RAP filed on SEDAR in connection with the
Amalgamation and other matters, any information released or received
with respect to the Amalgamation may not be accurate or complete and
should not be relied upon. Trading in the securities of RAP should be
considered highly speculative.
The TSX Venture Exchange has not in any way passed upon the merits of
the Amalgamation and has not approved nor disapproved the contents of
this press release.
Haywood Securities Inc., subject to completion of satisfactory due
diligence, has agreed to act as sponsor to Ferrum Americas in
connection with the Amalgamation. An agreement to sponsor should not be
construed as any assurance with respect to the merits of the
Amalgamation or the likelihood of completion.
Notice on forward-looking statements:
This release includes forward-looking statements regarding RAP, Ferrum
Americas and their respective businesses. Such statements are based on
the current expectations of the management of each entity. The
forward-looking events and circumstances discussed in this release,
including completion of the Amalgamation, may not occur and could
differ materially as a result of known and unknown risk factors and
uncertainties affecting the companies, including risks regarding the
mining industry, economic factors and the equity markets generally. No
forward-looking statement can be guaranteed. Except as required by
applicable securities laws, forward-looking statements speak only as of
the date on which they are made and RAP and Ferrum Americas undertake
no obligation to publicly update or revise any forward-looking
statement, whether as a result of new information, future events, or
Neither 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 or accuracy of this release.
SOURCE RAP Acquisition Corp.
For further information:
Ronald Schmeichel, Director of RAP Acquisition Corp. at 416-972-6574