VANCOUVER, Nov. 20, 2013 /PRNewswire/ - Brazil Resources
Inc. ("Brazil Resources") (TSX-V:
BRI; OTCQX: BRIZF) and Brazilian Gold Corporation ("BGC") (TSX-V:
BGC) are pleased to jointly announce that at a special meeting of
shareholders of BGC held earlier today (the "Meeting"), BGC
shareholders voted in favour of the proposed transaction pursuant
to which Brazil Resources will acquire all of the issued and
outstanding common shares of BGC by way of a plan of arrangement
under the Business Corporations Act (British Columbia) (the "Arrangement").
Over 94% of the shares voted at the Meeting were voted in favour of
the special resolution approving the Arrangement.
BGC's application to the Supreme Court of
British Columbia to obtain the
final order approving the Arrangement is currently scheduled for
Thursday, November 21, 2013. If
court approval is obtained and all other conditions precedent to
the Arrangement are satisfied or waived, the Arrangement is
expected to become effective on or about November 22, 2013.
About Brazil Resources Inc.
Brazil Resources is a public mineral exploration
company with a focus on the acquisition and development of projects
in emerging producing gold districts in Brazil, Paraguay and other parts of South America. Currently, Brazil Resources is
advancing its Cachoeira, Montes Áureos and Trinta Gold Projects
located in the Gurupi Gold Belt in northeastern-Brazil, and its Artulandia Copper-Gold Project
in central Brazil.
About Brazilian Gold Corporation
BGC is a Canadian-based public company with a
focus on the acquisition, exploration and development of gold
properties located in northern Brazil. BGC has title to one of the largest
mineral exploration land packages (3,753 km2) in the
Tapajós and adjacent Alta Floresta
gold provinces. The land package contains green fields to more
advance stage projects including BGC's flagship São Jorge project.
Rapid improvements to regional infrastructure continue to provide
underlying support to Brazilian Gold's activities in northern
Brazil.
Forward Looking Statements
This document contains certain
forward-looking statements that reflect the current views and/or
expectations of Brazil Resources and/or BGC (the "Companies") with
respect to their respective business and future events, including
statements regarding the Companies' beliefs and expectations
regarding the completion and/or timing of the Arrangement.
Forward-looking statements are based on the then-current
expectations, beliefs, assumptions, estimates and forecasts about
the business and the markets in which the Companies operate,
including that: the Companies will be able to obtain all necessary
consents and approvals, including any necessary court, third-party
consents and/or regulatory approval; and other conditions under the
Arrangement will be fulfilled or waived by the parties. Investors
are cautioned that all forward-looking statements involve risks and
uncertainties, including that the Companies may not be able to
satisfy and/or obtain a waiver of their respective conditions to
the transaction thereunder. These risks, as well as others,
including those set forth in the Companies' respective filings with
Canadian securities regulators, could cause actual results and
events to vary significantly. Accordingly, readers should not place
undue reliance on forward-looking statements and information. There
can be no assurance that forward-looking information, or the
material factors or assumptions used to develop such forward
looking information, will prove to be accurate. Neither Company
undertakes any obligations to release publicly any revisions for
updating any voluntary forward-looking statements, except as
required by applicable securities law.
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 news release.
Brazil Resources Inc.
Stephen Swatton, Chief Executive
Officer
Patrick Obara, Chief Financial
Officer
Telephone: (855) 630-1001
Brazilian Gold Corporation
Ian (John) Stalker, Chief Executive
Officer
Joanne Yan, President
Telephone: (604) 602-8188
SOURCE Brazil Resources Inc.