Avesoro Resources Inc. Acquisition by Avesoro Jersey of Remaining Shares (7624Y)
06 Janeiro 2020 - 4:00AM
UK Regulatory
TIDMASO
RNS Number : 7624Y
Avesoro Resources Inc.
06 January 2020
6 January 2020
Avesoro Resources Inc.
TSX: ASO
AIM: ASO
Avesoro Announces Acquisition by Avesoro Jersey Limited of its
Remaining Outstanding Common Shares pursuant to Compulsory
Acquisition
Avesoro Resources Inc. (the "Company" or "Avesoro") announces
that its controlling shareholder, Avesoro Jersey Limited ("AJL")
has announced that AJL has completed the compulsory acquisition
(the "Compulsory Acquisition") of all remaining common shares
("Common Shares") of the Company not already owned by AJL pursuant
to Part 17 of the Canada Business Corporations Act following its
previously announced successful takeover bid (the "Offer").
Following the expiration of the Offer, as extended on November
22, 2019 to December 3, 2019 for the mandatory extension period,
AJL owned 79,875,277 Common Shares representing, on a non-diluted
basis, approximately 97.90% of the issued and outstanding Common
Shares. AJL acquired an additional 1,699,983 Common Shares pursuant
to the Compulsory Acquisition representing, on a non-diluted basis,
approximately 2.1% of the issued and outstanding Common Shares, at
a price of GBP1.00 (or its equivalent in Canadian or U.S. dollars)
in cash per Common Share for an aggregate price of GBP1,699,983, or
approximately C$2,904,421. Such Canadian values are calculated
based on the Bank of Canada exchange rate of GBP1.00 to C$1.7085 on
January 2, 2020. As a result of the Compulsory Acquisition, AJL now
owns 81,575,260 Common Shares representing 100% of the issued and
outstanding Common Shares of the Company.
Avesoro has applied to have the Common Shares delisted from the
Toronto Stock Exchange (the "TSX") and the AIM market of the London
Stock Exchange (the "AIM") in accordance with the policies of such
exchanges. It is anticipated that the Avesoro Common Shares will be
delisted from the TSX at the close of trading on January 7, 2020
and the depositary interests representing the Common Shares will be
delisted from the AIM effective as of 7:00 a.m. (London time) on
January 8, 2020. Avesoro is a reporting issuer in Canada, with its
head office located at 199 Bay Street, Suite 5300 Toronto, Ontario
M5L 1B9. AJL has reported that it intends to cause Avesoro to apply
to the relevant securities commissions for it to cease to be a
reporting issuer in all applicable jurisdictions in Canada
following the delisting.
Caution Concerning Forward-Looking Statements
Certain statements made in this news release are forward-looking
statements, including anticipated future events and circumstances,
including in particular, but not limited to, statements relating to
the proposed voluntary delisting of the Common Shares from the TSX
and the AIM. Forward-looking statements, by their very nature, are
subject to inherent risks and uncertainties and are based on
several assumptions, both general and specific, which give rise to
the possibility that actual results or events could differ
materially from our expectations expressed in or implied by such
forward-looking statements. As a result, Avesoro cannot guarantee
that any forward-looking statement will materialize and caution
readers against relying on any of these forward-looking statements.
The forward-looking statements contained in this news release
describe the Company's expectations as of January 6, 2020 and,
accordingly, are subject to change after such date. Except as may
be required by applicable Canadian securities laws, the Company
undertakes no obligation to update or revise any forward-looking
statements contained in this news release, whether as a result of
new information, future events or otherwise.
Contact Information
Avesoro Resources Inc. finnCap
Geoff Eyre (Nominated Adviser and Broker)
Tel: +44(0) 20 3405 9160 Christopher Raggett / Scott Mathieson
/ Camille Gochez
Tel: +44(0) 20 7220 0500
Camarco
(IR / Financial PR)
Gordon Poole / Nick Hennis
Tel: +44(0) 20 3757 4980
About Avesoro Resources Inc.
Avesoro Resources is a West Africa focused gold producer and
development company that operates two gold mines across West Africa
and is listed on the TSX and the AIM. The Company's assets include
the New Liberty Gold Mine in Liberia and the Youga Gold Mine in
Burkina Faso.
For more information, please visit www.avesoro.com
Certain information communicated in this announcement was, prior
to its publication, inside information for the purposes of Article
7 of Regulation 596/2014.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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(END) Dow Jones Newswires
January 06, 2020 02:00 ET (07:00 GMT)
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