/NOT FOR DISTRIBUTION IN THE UNITED
STATES OR FOR DISSEMINATION TO U.S. NEWS WIRE SERVICES./
TSX-V: AFF
AIM: AFF
LONDON, UK, Aug. 23, 2013 /CNW/ - Afferro Mining Inc.
("Afferro" or the "Company") announces that a special meeting (the
"Meeting") of shareholders and optionholders of Afferro
(collectively, "Securityholders") to consider the previously
announced proposed acquisition by International Mining &
Infrastructure Corporation Plc ("IMIC") of 100% of the issued and
outstanding share capital of Afferro pursuant to a Canadian court
approved plan of arrangement (the "Arrangement") will be held on
16 September 2013 at 10:30 a.m. Pacific Day Time at the offices of
Blake, Cassels & Graydon LLP, 595 Burrard Street, Suite 2600,
Three Bentall Centre, Vancouver,
BC V7X 1L3, Canada.
Only Securityholders of record as of the close
of business on 16 August 2013 are
entitled to receive notice of and to attend, and to vote at, the
Meeting or any adjournments or postponements thereof. The notice of
Meeting and management information circular have been sent by post
to each such Securityholder. A copy of these materials is also
available under the Company's profile on www.sedar.com and on the
Company's website at: www.afferro-mining.com.
Proxies are being solicited by the management of
the Company and should be completed in accordance with the
instructions set out therein and delivered to Computershare
Investor Services Inc. in the manner set out in such proxy on or
before 10.30 a.m. (Vancouver time), 12
September 2013. Holders of the Company's depositary
interests who wish to cast their votes with respect to the Meeting
should follow the explanatory notes set out in the Form of
Instruction.
In addition to Securityholders' approval, the
Arrangement is subject inter alia to final court approval,
approval by IMIC shareholders and the satisfaction or waiver of the
conditions to closing, including receipt of all necessary
regulatory approvals. Should the Arrangement be completed, Afferro
will be de-listed from the TSX Venture Exchange and admission to
trading of its securities from the AIM market of the London Stock
Exchange will be cancelled, and Afferro will become an indirect
wholly-owned subsidiary of IMIC. The proposed Arrangement is
currently anticipated to close in September
2013.
About Afferro Mining Inc.
Afferro is an established exploration and development company
listed on the TSX-V (AFF) and AIM (AFF). Afferro's portfolio
includes the 100% owned Nkout, Ntem and Akonolinga iron ore
projects. It also holds a 70% interest in the Ngoa project, an
exploration target bordering Nkout. All projects are subject to
government rights. Nkout has a National Instrument 43-101 ("NI
43-101") compliant Indicated Mineral Resource Estimate of 1.6Bt at
33.3% Fe and an Inferred Mineral Resource Estimate of 0.9Bt at
30.8% Fe. In addition Nkout has a NI 43-101 compliant Preliminary
Economic Assessment ("PEA") which indicates that the project is
economically viable. Ntem comprises a NI 43-101 compliant Indicated
Mineral Resource Estimate of 39.1Mt at 34.0% Fe and an Inferred
Mineral Resource Estimate of 76.4Mt at 34.2% Fe.
Qualified Person
Howard Baker (MAusIMM(CP)) has 19
years' experience in the mining industry and 11 years' experience
in the exploration, definition and mining of iron ore mineral
resources. Mr Baker is a full-time employee of SRK Consulting (UK)
Ltd., an independent consultancy, and has sufficient experience
which is relevant to the style of mineralisation and type of
deposit under consideration, and to the type of activity which he
is undertaking to qualify as a Qualified Person in accordance with
NI 43-101 and a Competent Person as defined in the June 2009 Edition of the AIM Note for Mining and
Oil & Gas Companies. Howard
Baker consents to the inclusion in the announcement of the
matters based on their information in the form and context in which
it appears and confirms that this information is accurate and not
false or misleading.
Forward Looking Statements
This announcement includes certain forward-looking statements. All
statements, other than statements of historical fact, included
herein are forward-looking statements that involve various known
and unknown risks and uncertainties as well as other factors. Such
forward looking statements are subject to a number of risks and
uncertainties that may cause actual results or events to differ
materially from current expectations, including delays in obtaining
or failure to obtain required regulatory approvals. There can be no
assurance that such statements will prove to be accurate and actual
results and future events could differ materially from those
anticipated in such statements.
Information about the risks and uncertainties of
the Company's business is provided in its disclosure materials,
including its Annual Information Form and the MD&A for the 12
months ended 31 December 2012,
available under the Company's profile on SEDAR at www.sedar.com.
Although the Company has attempted to identify important factors
that could cause actions, events or results to differ materially
from those described in forward looking information, there may be
other factors that cause actions, events or results not to be as
anticipated, estimated or intended. There can be no assurance that
forward looking information will prove to be accurate, as actual
results and future events could differ materially from those
anticipated in such information. Accordingly, readers should not
place undue reliance on forward-looking information. The
forward-looking information contained herein, speaks only as of the
date hereof (unless stated otherwise) and, except as may be
required by applicable law, Afferro disclaims any obligation to
update or modify such forward-looking statements, either as a
result of new information, future events or for any other
reason.
Neither TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in policies
of the TSX Venture Exchange) accepts responsibility for the
adequacy or accuracy of this release.
SOURCE Afferro Mining Inc.