Ballyliffin Capital Corp.: Qualifying Transaction Announcement
10 August 2011 - 1:19AM
Marketwired
Mr. Devinder Randhawa, President of Ballyliffin Capital Corp. (TSX
VENTURE: BLL.H) (the "Corporation" or "Ballyliffin") announces that
Ballyliffin has entered into a non-binding letter of intent with
Grupo Dias Participacoes LTDA ("GD"), of Sao Paulo, Brazil in
connection with a proposed qualifying transaction whereby
Ballyliffin will, subject to a number of conditions, acquire a
fifty-one percent (51%) interest in all of the mining and
operational assets of GD known as the Grupo Dias Gold Projects. The
transaction will constitute Ballyliffin's qualifying transaction
("QT") under the policies of the TSX Venture Exchange (the
"Exchange").
Ballyliffin has agreed to work towards the completion of a
definitive agreement with GD and further details will be announced
shortly. Trading in the common shares of Ballyliffin will remain
halted pending the release of further disclosure regarding this QT
and the satisfaction of the initial filing requirements of the
Exchange and a preliminary review by the Exchange.
CAUTIONARY STATEMENT
Completion of the above transaction is subject to a number of
conditions, including but not limited to, Exchange acceptance and
if applicable pursuant to Exchange requirements, majority of the
minority shareholder approval. Where applicable, the transaction
cannot close until the required shareholder approval is obtained.
There can be no assurance that the transaction will be completed as
proposed or at all.
Investors are cautioned that, except as disclosed in the
management information circular or filing statement to be prepared
in connection with the transaction any information released or
received with respect to the transaction may not be accurate or
complete and should not be relied upon. Trading in the securities
of a capital pool company should be considered highly
speculative.
Certain information in this press release may constitute
forward-looking information. This information is based on current
expectations that are subject to significant risks and
uncertainties that are difficult to predict. Actual results might
differ materially from results suggested in any forward-looking
statements. The Corporation assumes no obligation to update the
forward-looking statements, or to update the reasons why actual
results could differ from those reflected in the forward
looking-statements unless and until required by securities laws
applicable to the Corporation. Additional information identifying
risks and uncertainties is contained in the Corporation's filings
with the Canadian securities regulators, which filings are
available at www.sedar.com.
The TSX Venture Exchange has in no way passed upon the merits of
the proposed transaction and has neither approved nor disapproved
the contents of this press release. Neither the 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 release.
Contacts: Ballyliffin Capital Corp. Mr. Devinder Randhawa
President (250) 868-8177 (250) 868-8493 (FAX)
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