Argonaut Gold Inc. Completes Compulsory Acquisition of Castle Gold Corporation
24 Februar 2010 - 2:17PM
Marketwired
Argonaut Gold Inc. (the "Offeror"), a wholly-owned subsidiary of
Argonaut Gold Ltd. (TSX: AR), is pleased to announce that it has
completed the compulsory acquisition process under the Canada
Business Corporations Act (the "Act") and has acquired the
remaining issued and outstanding common shares of Castle Gold
Corporation ("Castle") (TSX VENTURE: CSG) not acquired pursuant to
the Offeror's take-over bid dated November 23, 2009 to acquire all
of the issued and outstanding common shares Castle (the "Offer").
As a result of the compulsory acquisition, Castle is now a
wholly owned subsidiary of the Offeror and Castle shareholders,
other than those who exercise dissent rights, are entitled to
receive $1.29 for each Castle share formerly held by them. To
effect the compulsory acquisition, the Offeror has mailed a Notice
of Compulsory Acquisition ("Notice") to each of Castle's registered
shareholders and has deposited with Computershare Trust Company of
Canada ("Computershare"), as agent for Castle, the total
consideration payable for the Castle share acquired under the
compulsory acquisition. Computershare will hold such funds in trust
for Castle's former shareholders and pay the acquisition price to
them upon deposit of the certificates representing the Castle
common shares formerly held by them. Deposits of the certificates
representing Castle common shares can be effected by using the
Letter of Transmittal that has been mailed to Castle's registered
shareholders along with the Notice.
Castle has applied to have its common shares delisted from the
TSX Venture Exchange. Trading of Castle common shares has been
halted and the common shares will be delisted from the TSX Venture
Exchange as of the close of market on February 23, 2010. In
addition, Castle intends to apply to the relevant provincial
securities regulators to cease to be a reporting issuer.
Cautionary Note Regarding Forward-looking Statements
This news release contains forward-looking statements that
involve risks and uncertainties that could cause results to differ
materially from management's current expectations. Actual results
may differ materially due to a number of factors. Except as
required by law, Argonaut Gold Inc. assumes no obligation to update
the forward-looking information contained in this news release.
Contacts: Argonaut Gold Inc. Nichole Cowles Investor Relations
Manager (775) 284-4422 x 101 nichole.cowles@argonautgoldinc.com
www.argonautgoldinc.com
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