Welcome To The Orvana Minerals HUB On AGORACOM

Operations: Copper-gold-silver-mine in Bolivia, Gold/copper mine/Mill in Spain and its developing copper project in Michigan

Hub Home

> Log In

Demo Video
Private Messages
Edit My Profile
View/Edit Portfolio

AGORACOM News Flash

AGORACOM WIRE - FRIDAY MAY 25TH, 2012

FOCUS METALS (TSXV:FMS) Changes Its Name to Focus Graphite Inc.

Aim to develop and manufacture the best technology graphite in the world
Additional shareholder value will come from investment in commercialized graphene through joint venture partner, Grafoid Inc.

Read More | *SPONSOR

INTERNATIONAL PBX VENTURES (TSX:PBX) Signs Copaquire Joint Venture Option Agreement - $90M Potential Payment Read More

AGORACOM Maintenance Alert: Friday Evening Downtime for About an Hour Read More

LOMIKO METALS (TSXV:LMR) Graphite and Zinc Price Outlook is Favourable Through 2013 Read More | *SPONSOR

Message: Formally Commences All-Cash Offer to Acquire Kinbauri Gold Corp. for $0.55 Share

Reply New Message

« Prev Message Back To Forum Go to Threaded View Next Message »

Clavis

Rank: [?]

President

Points: [?]

23987

Rating: [?]

Votes: 222 Score: 3.5

Currently 3.6/5 Stars.

Your Vote:

Please Log In to Vote

Did you know? You can earn activity points by filling your profile with information about yourself (what city you live in, your favorite team, blogs etc.

Formally Commences All-Cash Offer to Acquire Kinbauri Gold Corp. for $0.55 Share

posted on May 25, 09 06:01AM

May 25, 2009

Orvana Formally Commences All-Cash Offer to Acquire Kinbauri Gold Corp. for $0.55 Per Share

Offer provides full liquidity and a 39.2% premium to Kinbauri shareholders

TORONTO, ONTARIO--(Marketwire - May 25, 2009) - Orvana Minerals Corp. (TSX:ORV) today announced that it has formally commenced its all-cash offer of C$.0.55 per share for all outstanding common shares of Kinbauri Gold Corp. (TSX VENTURE:KNB), a gold exploration company based in Carp, Ontario. The Company has mailed its take-over bid circular and relating documentation to Kinbauri security holders and filed all such documentation on SEDAR.

The offer represents a premium of 39.2% over the closing price of Kinbauri's common shares on May 8, 2009, the last trading day prior to the announcement of Orvana's intention to make an offer to acquire Kinbauri, and a 36.1% premium over the average closing price for Kinbauri's common shares over the ten-day trading period ended May 8, 2009.

Orvana's offer is open for acceptance until 8 p.m. (Toronto time) on June 30, 2009, unless it is extended or withdrawn. The offer is subject to the condition that Kinbauri terminate its previously announced proposed transaction with Glen Eagle Resources Inc., as well as conditions that are customary for a transaction of this nature. The full details of Orvana's offer, including the conditions to the offer, are included in the take-over bid circular and related documentation being mailed to Kinbauri's security holders and filed on SEDAR.

"We are offering Kinbauri shareholders a choice: tender to our offer and receive liquidity, value and certainty today or face a risky future with Kinbauri, whose plan to bring its Spanish properties into production relies upon uncertain financing and inexperienced management," said Kent Jespersen, Chairman of Orvana.

Should you have any questions regarding the offer, please contact Kingsdale Shareholder Services Inc., the information agent in connection with the offer, at 1-800-749-9052 (toll-free) or 416-867-2272 (outside North America).

Orvana is a well-established mine operator with an experienced management team that has collectively brought a number of underground mines into production. Orvana had cash of approximately US$96.2 million (C$112.5 million) as of March 31,2009, more than sufficient to acquire Kinbauri's shares and then to develop Kinbauri's Spanish mineral project.

Reply New Message

« Prev Message Back To Forum Go to Threaded View Next Message »