Bayhorse Silver Announces Record Date for Plan of Arrangement
04 Fevereiro 2014 - 4:05PM
Marketwired
Bayhorse Silver Announces Record Date for Plan of Arrangement
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Feb 4, 2014) -
BAYHORSE SILVER INC. (TSX-VENTURE:BHS) (the "Company") is pleased
to report that the Company's previously announced plan of
arrangement (the "Arrangement") with the Company's shareholders and
SILCOM SYSTEMS INC. (formerly 0982550 B.C. Ltd.) ("Spinco")
received shareholder approval on December 13, 2013 and final
approval of the Supreme Court of British Columbia on January 24,
2014. Refer to the Company's Information Circular dated November
15, 2013, for additional information concerning the
Arrangement.
The purpose of the Arrangement is to restructure the Company by
creating a company, Spinco, which the Company believes will be
beneficial to the shareholders of the Company, as it is expected
that Spinco will enter into a definitive agreement to acquire a
business upon completion of the Arrangement. Management also
believes that by creating this new company and providing the
Company's shareholders with an interest in this company,
shareholder value will be enhanced. The effective date for the
Arrangement has been set as February 12, 2014. Shareholders of
record as of February 10, 2014 will be entitled to participate in
the Arrangement. The shares of the Company will trade
ex-distribution on February 6, 2014.
ABOUT BAYHORSE SILVER INC.
Bayhorse Silver Inc. is a junior exploration company with a 100%
interest in its three major high grade New Zealand gold prospects
(Alexander River, Paparoa and Lyell), in the highly prolific West
Coast South Island gold fields of New Zealand, where it offers
investors the potential for a major gold discovery and is earning
an 80% interest in its newly acquired historic Bayhorse Silver Mine
that has the potential for a substantial silver discovery. The
Company has an experienced management and technical team with
extensive exploration expertise.
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 or
accuracy of this release.
Caution Regarding Forward-Looking Statements - This news
release contains certain forward-looking statements, including
statements regarding the business of the Company, including with
respect to completion of the Arrangement. These statements are
subject to a number of risks and uncertainties. Actual results may
differ materially from results contemplated by the forward-looking
statements. There is no guarantee that the Arrangement will be
completed as proposed or at all. When relying on forward-looking
statements to make decisions, investors and others should carefully
consider the foregoing factors and other uncertainties and should
not place undue reliance on such forward-looking statements. The
Company does not undertake to update any forward looking
statements, oral or written, made by itself or on its behalf except
as required by law.
Bayhorse Silver Inc.Graeme O'NeillPresident and Chief Executive
Officer(604) 684-3394
Bayhorse Silver (TSXV:BHS)
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