OAKVILLE, ON, May 15, 2014 /CNW/ - Canoe Mining Ventures
(TSXV: CLV) ("Canoe Mining") and Birch Hill Gold Corp.
(TSXV: BHG) ("Birch Hill") (collectively the
"Companies") announce that the shareholders of Birch Hill have approved the acquisition of
Birch Hill by Canoe Mining by way
of a three-cornered amalgamation (the "Transaction"). The
votes were tabulated during a Birch
Hill special shareholder meeting held on May 15, 2014. 100% of the votes at the meeting
representing 41.9% of the shares outstanding supported the
Transaction.
Completion of the Transaction remains subject to a number of
conditions, including but not limited to, the satisfaction of
standard closing conditions for transactions of this nature, and
the acceptance of the TSX Venture Exchange. Canoe Mining and
Birch Hill expect to complete the
Transaction in the week of May 26,
2014.
Details on the Transaction between Canoe Mining and Birch Hill can be reviewed in the joint news
releases issued by the Companies on March 4,
2014 and March 26, 2014.
Birch Hill will request that
its shares be delisted from trading on the TSX Venture Exchange
immediately following the completion of the Transaction.
Additional information on the Transaction and other corporate
documents may be found under the Companies' filings on
www.sedar.com, the Canoe Mining website at www.canoemining.com, and
the Birch Hill website at
www.birchhillgold.com.
On behalf of the
Board of Directors
|
|
Chuck
Allen
|
Barry
Girling
|
President and
CEO
|
President
|
Canoe Mining Ventures
Corp.
|
Birch Hill Gold
Corp.
|
Investors are cautioned that, except as disclosed in the
management information circular to be prepared in connection with
the Transaction, any information released or received with respect
to the Transaction may not be accurate or complete and should not
be relied upon.
The TSX Venture Exchange has in no way passed upon the merits
of the proposed transaction and has neither approved nor
disapproved the contents of this press release.
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.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION:
This news release includes certain "forward-looking statements"
under applicable Canadian securities legislation. Forward-looking
statements include, but are not limited to, statements with respect
to: the terms and conditions of the proposed transaction; the terms
and conditions of the Offering; and the business and operations of
the Canoe Mining after the proposed transaction. Forward-looking
statements are necessarily based upon a number of estimates and
assumptions that, while considered reasonable, are subject to known
and unknown risks, uncertainties, and other factors which may cause
the actual results and future events to differ materially from
those expressed or implied by such forward-looking statements. Such
factors include, but are not limited to: general business,
economic, competitive, political and social uncertainties; delay or
failure to receive board, shareholder or regulatory approvals; and
the results of current exploration and testing. There can be no
assurance that such statements 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 statements. The Parties
disclaim 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 law.
SOURCE Canoe Mining Ventures Corp.