Coronado Announces Update on Acquisition of Opunake Hydro Limited
VANCOUVER, Aug. 21, 2013 /PRNewswire/ – Coronado Resources Ltd. (TSX-V: CRD) and (OTCQX: CRDAF) (“Coronado”) is pleased to provide an update on Coronado’s proposed
change of business acquisition of all of the outstanding common shares
of Opunake Hydro Limited from TAG Oil Ltd. and Opunake Hydro Holdings
Limited in exchange for common shares of Coronado (the “OHL
Acquisition”), which was announced on May 14, 2013. Coronado received
conditional acceptance from the TSX Venture Exchange in respect of the
OHL Acquisition on August 16, 2013.
As the OHL Acquisition is subject to the approval of the shareholders of
Coronado, the meeting of the shareholders of Coronado will take place
on August 29, 2013. Further information about the OHL Acquisition and
the shareholders’ meeting can be found in the notice of meeting and
information circular filed by Coronado and available for viewing on www.sedar.com.
Coronado is in the process of applying for the requisite regulatory
approval in New Zealand and the transaction remains subject to the
final approval of the TSX Venture Exchange. Coronado expects that the
OHL Acquisition will be completed during the third calendar quarter of
Completion of the OHL Transaction is subject to a number of conditions,
including acceptance from the TSX Venture Exchange and disinterested
shareholder approval. The OHL Acquisition cannot close until the
required shareholder approval is obtained. There can be no assurance
that the OHL Acquisition will be completed as proposed or at all.
The TSX Venture Exchange has in no way passed upon the merits of the
proposed OHL Acquisition and has neither approved nor disapproved the
contents of this press release.
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.
Cautionary Note Regarding Forward-Looking Statements:
Statements contained in this news release that are not historical facts
are forward-looking statements that involve various risks and
uncertainty affecting the business of Coronado. Such statements can
generally, but not always, be identified by words such as “expects”,
“plans”, “anticipates”, “intends”, “estimates”, “forecasts”,
“schedules”, “prepares”, “potential” and similar expressions, or that
events or conditions “will”, “would”, “may”, “could” or “should” occur.
Forward-looking statements and information concerning anticipated
financial performance are based on management’s assumptions using
information currently available. Forward-looking statements in this
news release include Coronado’s expectations regarding the ability to
complete, and the anticipated timing of, the OHL Acquisition.
In making the forward-looking statements in this news release, Coronado
has applied certain factors and assumptions that are based on
information currently available to Coronado as well as Coronado’s
current beliefs and assumptions made by Coronado, including that
Coronado will be able to complete the OHL Acquisition and that OHL will
be able to maintain its current operations and that a strategic plan
for the near and mid-term can be determined. Although Coronado
considers these beliefs and assumptions to be reasonable based on
information currently available to it, they may prove to be incorrect,
and the forward-looking statements in this release are subject to
numerous risks, uncertainties and other factors that may cause future
results to differ materially from those expressed or implied in such
forward-looking statements. Such risk factors include, among others,
that OHL’s operations will not continue at their current levels, and
that Coronado will be unable to determine or will experience delays in
determining a strategic plan for the near and mid-term range. Although
Coronado has attempted to identify important factors that could cause
actual results to differ materially from those contained in
forward-looking information, there may be other factors that cause
results not to be as anticipated, estimated or intended. There can be
no assurance that such information will prove to be accurate, as actual
results and future events could differ materially from those
anticipated in such statements. Accordingly, readers should not place
undue reliance on forward-looking information. Coronado does not
undertake to update any forward-looking information, except in
accordance with applicable securities laws.
SOURCE CORONADO RESOURCES LTD.