Business
Afferro Mining Inc. (AFF) and International Mining & Infrastructure Corporation plc ("IMIC") - Amendment to Outside Date and Intention of Afferro to Delist from AIM and TSX-V
/NOT FOR DISTRIBUTION IN THE UNITED STATES OR FOR DISSEMINATION TO US NEWS WIRE SERVICES....
About this update from Affinity Metals Corp
[{"type":"text","content":"\n\n\n/NOT FOR DISTRIBUTION IN THE UNITED STATES OR FOR DISSEMINATION TO US\n NEWS WIRE SERVICES./\n\n\nLONDON, UK, Oct. 23, 2013 /CNW/ - Afferro Mining Inc. (\"Afferro\" or the\n \"Company\") and International Mining & Infrastructure Corporation plc\n (\"IMIC\") have agreed to amend the Arrangement Agreement details of\n which were announced on 24 June 2013, 18 July 2013 and 13 September\n 2013, pursuant to which IMIC, through its wholly owned subsidiary,\n Afferro Holdings Ltd., will acquire all of the issued and to be issued\n common share capital of the Company (the \"Arrangement\").\n\n\nThe amendments provide for the extension of the outside date to 26\n November 2013. In addition to the approval of the shareholders of IMIC,\n the Arrangement remains subject to, inter alia, the satisfaction or waiver of the conditions to closing. It is expected\n that the Arrangement will complete prior to 26 November 2013.\n\n\nAfferro has applied for the cancellation of its shares from admission to\n the AIM Market of the London Stock Exchange (\"Cancellation\"). Following\n completion of the Arrangement, the Company's shares will also be\n de-listed from the TSX-V. The Cancellation is currently expected to\n take place at 07:00 (GMT) on a date no earlier than 21 November 2013\n and no later than 26 November 2013. These dates are subject to change\n and confirmation on the final timetable for the Arrangement. Following\n completion of the Arrangement and the Cancellation, Afferro's\n shareholders will cease to hold shares in the Company and accordingly\n no dealings in Afferro's shares will be able to be effected.\n\n\nAbout Afferro \nAfferro is an established exploration and development company listed on\n the TSX-V (AFF) and AIM (AFF). Afferro's portfolio includes the 100%\n owned Nkout, Ntem and Akonolinga iron ore projects. It also holds a 70%\n interest in the Ngoa project, an exploration target bordering Nkout.\n All projects are subject to government rights. Nkout has an Indicated\n Mineral Resource Estimate of 1.6Bt at 33.3% Fe and an Inferred Mineral\n Resource Estimate of 0.9Bt at 30.8% Fe. Ntem has an Indicated Mineral\n Resource Estimate of 39.1Mt at 34.0% Fe and an Inferred Mineral\n Resource Estimate of 76.4Mt at 34.2% Fe.\n\n\nAbout IMIC\nIMIC in conjunction with its privately held strategic partner African\n Iron Ore ...