TORONTO,
March 28, 2014 /CNW/ - Wesdome Gold
Mines Ltd. ("Wesdome") (TSX:WDO) and Moss Lake Gold Mines
Ltd. ("Moss Lake") (TSXV:MOK) are pleased to announce that
Wesdome has completed its previously announced acquisition of the
issued and outstanding common shares of Moss Lake (the "Moss
Lake Shares") that it does not already own (the
"Acquisition"). As a result, Moss Lake has become a
wholly-owned subsidiary of Wesdome. It is anticipated that the Moss
Lake Shares will be delisted from the TSX Venture Exchange (the
"TSXV") on or about March 31,
2014. Wesdome will also cause Moss Lake to submit an
application to cease to be a reporting issuer in each reporting
jurisdiction in Canada. Under the
terms of the definitive agreement governing the Acquisition, each
former shareholder of Moss Lake (other than Wesdome) is entitled to
receive one common share of Wesdome for every 3.85 Moss Lake Shares
held.
Rowland Uloth,
President and Chief Executive Officer of Wesdome stated "Moss Lake
adds a potentially world class scale gold development opportunity
given favourable economic conditions. Combined with our
extensive mining and milling infrastructure and experienced
operating team, we are building an enviable portfolio of organic
growth projects. We welcome Moss Lake shareholders to the
Wesdome family."
Moss Lake shareholders requiring assistance with
submitting their Moss Lake Shares for exchange should contact their
broker or Computershare Investor Services Inc. at 1-800-564-6253 or
corporateactions@computershare.com.
About Wesdome
Wesdome is in its 26th year of
continuous mining operations in Canada. It currently has two producing gold
mines in Wawa, Ontario and owns
the Kiena Complex in Val d'Or,
Québec.
About Moss Lake
Moss Lake was created in 1994 to consolidate
ownership of the Moss Lake gold deposit.
Forward Looking Statements
This press release includes certain statements
that constitute "forward‐looking statements" and "forward‐looking
information" within the meaning of applicable securities laws
(collectively, "forward‐looking statements"). These
statements are typically identified by words such as "believe",
"anticipate", "estimate", "project", "intend", "expect", "may",
"will", "plan", "should", "would", "contemplate", "possible",
"attempts", "seeks" and similar expressions. Forward‐looking
statements may relate to Wesdome's or Moss Lake's future outlook
and anticipated events or results.
By their very nature, forward‐looking statements
involve numerous assumptions, inherent risks and uncertainties,
both general and specific, and the risk that predictions and other
forward‐looking statements will not prove to be accurate. Do not
unduly rely on forward‐looking statements, as a number of important
factors, many of which are beyond Wesdome's or Moss Lake's control,
could cause actual results to differ materially from the estimates
and intentions expressed in such forward‐looking
statements.
Forward‐looking statements speak only as of the
date those statements are made. Except as required by
applicable law, neither Wesdome nor Moss Lake assume any obligation
to update, or to publicly announce the results of any change to,
any forward‐looking statement contained herein to reflect actual
results, future events or developments, changes in assumptions or
changes in other factors affecting the forward‐looking
statements.
Neither the Toronto Stock Exchange, TSXV (nor
its Regulation Services Provider, as that term is defined in the
policies of the TSXV) accepts responsibility for the adequacy or
accuracy of this press release.
SOURCE Moss Lake Gold Mines Ltd.