Business
Afferro Mining Inc. and International Mining & Infrastructure Corporation plc Update on IMIC Acquisition
/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\nTSX-V: AFFAIM: AFF\n\n\nLONDON, UK, Nov. 25, 2013 /CNW/ - Afferro Mining Inc. (\"Afferro\" or the\n \"Company\") and International Mining & Infrastructure Corporation plc\n (\"IMIC\") are updating the market on the Arrangement Agreement, details\n of which were announced on 24 June 2013, 18 July 2013, 13 September\n 2013 and 23 October 2013, pursuant to which IMIC, through its wholly\n owned subsidiary, Afferro Holdings Ltd., will acquire all of the issued\n and to be issued common share capital of the Company (the\n \"Arrangement\").\n\n\nThe Board of Afferro (the \"Board\") advises that the current outside date\n of 26 November 2013 for the completion of the Arrangement will not be\n met. The Parties are in discussion to amend the Arrangement Agreement\n for a new outside date, which is expected to be no later than 31\n December 2013. The Board also notes that IMIC announced to the market\n on 22 November 2013 its intention to mail its AIM Re-admission Document\n this week and hold its general meeting to approve the Arrangement in\n the week commencing 16 December 2013, which is consistent with the\n expectation that the deal be concluded by the 31 December 2013 at the\n latest. A further announcement will be made once the amendment to the\n Arrangement Agreement has been signed.\n\n\nIn accordance with this timing Afferro has applied for the cancellation\n of its shares from admission to the AIM Market of the London Stock\n Exchange (\"Cancellation\"). Following completion of the Arrangement, the\n Company's shares will also be de-listed from the TSX-V. The\n Cancellation is currently expected to take place at 07:00 (GMT) on a\n date no earlier than 24 December 2013 and no later than 31 December\n 2013. These dates are subject to change and confirmation on the final\n timetable for the Arrangement. Following completion of the Arrangement\n and the Cancellation, Afferro's shareholders will cease to hold shares\n in the Company and accordingly no dealings in Afferro's shares will be\n able to be effected.\n\n\nForward Looking Statements\n\n\nThis announcement includes certain forward-looking statements. All\n statements, other than statements of historical fact, included herein\n are forward-looking statements t...