Business
Afferro Mining Inc. receives Court Approval in Connection with Proposed Plan of Arrangement with International Mining & Infrastructure Corporation Plc
/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, Oct. 10, 2013 /CNW/ - Afferro Mining Inc. (\"Afferro\" or the\n \"Company\") announces that on 9 October 2013 the British Columbia\n Supreme Court issued a final order approving the previously announced\n proposed acquisition by International Mining & Infrastructure\n Corporation Plc (\"IMIC\") of 100% of the issued and outstanding share\n capital of Afferro pursuant to a plan of arrangement (the\n \"Arrangement\").\n\n\nCompletion of the Arrangement remains conditional on, inter alia, approval by IMIC shareholders and the satisfaction or waiver of the\n conditions to closing, including receipt of all necessary regulatory\n approvals, all of which are more particularly set forth in the\n arrangement agreement made among IMIC, Afferro and a wholly-owned\n subsidiary of IMIC dated 23 June 2013, as amended 18 July 2013 and 12\n September 2013 (the \"Arrangement Agreement\").\n\n\nAbout Afferro Mining Inc.\n\n\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 39.2Mt at 34.0% Fe and an Inferred Mineral\n Resource Estimate of 76.4Mt at 34.2% Fe.\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 that involve various known and unknown\n risks and uncertainties as well as other factors. Such forward looking\n statements are subject to a number of risks and uncertainties that may\n cause actual results or events to differ materially from current\n expectations. There can be no assurance that such statements will prove\n to be accurate and actual results and future events could differ\n materially from those anticipated in such statements.\n\n\nInformation about ...