TORONTO, Oct. 1, 2013 /CNW/ - Wesdome Gold Mines Ltd.
("Wesdome") (TSX:WDO) and Windarra Minerals Ltd.
("Windarra") (TSXV:WRA.V) are pleased to announce that
Wesdome has completed its previously announced acquisition of all
of the outstanding common shares of Windarra pursuant to the terms
of a business combination agreement (the "Amalgamation"). As
a result, Windarra has become a wholly-owned subsidiary of Wesdome.
The common shares of Windarra were halted from trading at
Windarra's request and an application has been made for the
delisting of such shares from the TSX Venture Exchange. Wesdome
will also cause Windarra to submit an application to cease to be a
reporting issuer in each reporting jurisdiction in Canada. Under the terms of the Amalgamation,
each former shareholder of Windarra will be entitled to receive
one-tenth of one Wesdome common share for each Windarra common
share held.
Rolly Uloth,
President & CEO of Wesdome, stated "We welcome Windarra
shareholders to the family. The unification of ownership in this
mining camp in in everyone's best interest."
Windarra shareholders requiring assistance with
submitting their 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. Wesdome has
approximately 101.8 million common shares issued and outstanding
which trade on the Toronto Stock
Exchange under the symbol "WDO".
About Windarra
Windarra is an established Canadian exploration
company. It has actively been involved in exploration and
development projects in the Mishibishu Greenstone belt for 20
years, and holds a further 100% interest in the two Mishi mining
leases consisting of approximately 705 hectares in the Mishibishu
Lake township and a 25% interest in the Magnacon East property.
* * * * *
This news release contains "forward-looking
information" which may include, but is not limited to, statements
with respect to the proposed Transaction between Windarra and
Wesdome, the expected timetable for completing the Transaction,
future financial and operating results, benefits and synergies of
the Transaction, future opportunities for Wesdome and any other
statements about the future expectations, beliefs, goals, plans or
prospects expressed by the management of either Windarra or
Wesdome. Often, but not always, forward-looking statements
can be identified by the use of words such as "plans", "expects",
"is expected", "budget", "scheduled", "estimates", "forecasts",
"intends", "anticipates", or "believes" or variations (including
negative variations) of such words and phrases, or state that
certain actions, events or results "may", "could", "would", "might"
or "will" be taken, occur or be achieved. Forward-looking
statements involve known and unknown risks, uncertainties and other
factors which may cause the actual results, performance or
achievements of Windarra and/or Wesdome to be materially different
from any future results, performance or achievements expressed or
implied by the forward-looking statements. Forward-looking
statements contained herein are made as of the date of this press
release and each of Windarra and Wesdome disclaims any obligation
to update any forward-looking statements, whether as a result of
new information, future events or results or otherwise. There can
be no assurance that forward-looking statements will prove to be
accurate, as actual results and future events could differ
materially from those anticipated in such statements. Each of
Windarra and Wesdome undertakes no obligation to update
forward-looking statements if circumstances, management's estimates
or opinions should change, except as required by securities
legislation. Accordingly, the reader is cautioned not to place
undue reliance on forward-looking statements.
SOURCE Wesdome Gold Mines Ltd.