Brilliant Mining Corp.: Distribution of Panoramic Shares Pursuant to Plan of Arrangement
01 Dezember 2009 - 11:55PM
Marketwired
Brilliant Mining Corp. (TSX VENTURE: BLT) (the "Company" or
"Brilliant") is pleased to advise shareholders of record as at May
29, 2009 (the "Shareholders") that the six month escrow period
imposed on the ordinary shares in Panoramic Resources Ltd.
("Panoramic") that were issued to Brilliant as part-consideration
for the acquisition by Panoramic of Brilliant's interest in the
Lanfranchi Nickel Mine in Western Australia, has elapsed effective
November 26, 2009. As such, these shares are now available for
transfer in accordance with the Plan of Arrangement involving
Brilliant and its shareholders (the "Arrangement").
Subsequent to expiry of the escrow period, Computershare
Investor Services Pty Ltd. ("Computershare"), which maintains
Panoramic's share register as agent of Panoramic, has advised
Brilliant that each eligible Shareholder and Clearing and
Depository Services Inc. ("CDS") or Depository Trust & Clearing
Corporation ("DTC") participant must submit an original executed
transfer form to Computershare in order for the Panoramic shares to
be transferred from Brilliant and registered into their name.
Shareholders that held their Common Shares in a brokerage account
as at the Effective Date are not required to execute such a
transfer form as this will be done by the broker on their
behalf.
Transfer forms have been prepared by Brilliant with Shareholder
registration information as it appears on the Company's share
register or as provided by CDS or DTC; the number of shares of
Panoramic distributed to the Shareholder under the Arrangement; as
well as other pertinent information required to effect the
transfer. These forms are being mailed out to each eligible
Shareholder and CDS or DTC participant with instructions for
execution and submission for processing.
Once Computershare has received and processed the original
signed documents, they shall send, by post, to the address
appearing on the share transfer form, a notice indicating the
assigned Shareholder Reference Number and other pertinent
information.
Shareholders should note that Computershare has advised
Brilliant that it will be unable to provide Brilliant with any
information concerning the holdings of the transferees once the
transfers have been completed; as such Brilliant will be unable to
provide Shareholder Reference Numbers or any other information
concerning shareholdings in Panoramic once the transfer has been
complete.
Background
As previously disclosed in news releases and a letter from
Olympia Trust Company to shareholders dated October 8, 2009, under
the Arrangement Brilliant distributed an aggregate of 12,000,000
ordinary shares of Panoramic to holders of Class "A" common shares
of Brilliant ("Common Shares") on the basis of 0.1639042 Panoramic
shares for each pre-consolidated Common Share held at the close of
trading on Friday, May 29, 2009 (the "Effective Date").
Shareholders became beneficial owners of the Panoramic shares as at
May 29, 2009, however legal title to the Panoramic shares remained
in the name of Brilliant due to the escrow requirement, which has
now expired.
Since the Effective Date, the Shareholders have realized a
dividend from Panoramic of AU$0.02 per share of Panoramic, which
was distributed by the Company's transfer agent on October 8, 2009
to the Shareholders. Information about the plans and performance of
Panoramic can be found at their website at
www.panoramicresources.com.
About Brilliant Mining Corp.
Brilliant Mining Corp. is a two-time TSX-Venture Top 50 award
winning resource company in search of undervalued resource
opportunities. Brilliant's internationally experienced technical
team and Board of Directors aim to leverage their broad range of
expertise to acquire and develop high quality, advanced stage
mineral projects.
On behalf of the Board of Directors
John Williamson, P. Geol., CEO, President & Director
Brilliant Mining Corp.
Brilliant Mining Corp. is a member of the Discovery Group of
Companies, for more information on the group visit
www.discoveryexp.com.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Contacts: Brilliant Mining Corp. Derek Iwanaka Manager, Investor
Relations Toll Free: 1-888-331-2269 or 604-646-4524
info@brilliantmining.com www.brilliantmining.com
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