TORONTO, ONTARIO--(Marketwired - July 5, 2013) -
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
Equinox Minerals Limited ("Equinox"), a wholly-owned subsidiary of Barrick Gold Corporation, announces that, on July 5, 2013, it entered into a debt settlement agreement with Alturas Mineral Corp. ("Alturas"), pursuant to which it agreed, subject to approval of the transaction by the TSX Venture Exchange (the "TSXV") within thirty (30) days, to settle an aggregate debt of US$231,001 (CAD $242,851) owed to Equinox in consideration for ownership and control of 4,857,027 common shares of Alturas (representing a per common share price of CAD $0.05). Alturas is listed on the TSXV.
If approved by the TSXV, the common shares of Alturas will be acquired by Equinox as settlement of debt. Equinox may from time to time, depending on market and other conditions, increase or decrease such holdings of common shares or other securities of Alturas.
Equinox will acquire the common shares pursuant to the prospectus exemption contained in section 2.14 of National Instrument 45-106.
Following the completion of this acquisition, Equinox will hold 15,727,202 common shares of Alturas, representing approximately 11.89% of the outstanding common shares of Alturas. Prior to the acquisition, Equinox held 10,870,175 common shares of Alturas, representing approximately 8.53% of the outstanding common shares of Alturas.
Additional details regarding the acquisition will be contained in an early warning report filed by Equinox pursuant to Canadian securities laws under Alturas's profile at www.sedar.com. A copy of the report can be obtained from Equinox at the contact information noted below.
CAUTIONARY STATEMENT ON FORWARD-LOOKING INFORMATION
Certain information contained in this press release, including any information as to our plans, constitutes "forward-looking statements". All statements, other than statements of historical fact, are forward-looking statements. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by the company, are inherently subject to significant business, economic and competitive uncertainties and contingencies. Known and unknown factors could cause actual results to differ materially from those projected in the forward-looking statements. Readers are cautioned that forward-looking statements are not guarantees of future performance. Any forward-looking statements made in this press release are qualified by these cautionary statements. Equinox disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by applicable law.
- Mergers, Acquisitions & Takeovers
- Stocks & Offerings
- Equinox Minerals Limited
- Barrick Gold Corporation
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