Business
Zara Take-Over Bids Cease Trade Order
Toronto, Ontario--(Newsfile Corp. - September 16, 2013) - On Friday, September 13, 2013, fol...
About this update from Altai Resources Inc.
[{"type":"text","content":"\nZara Take-Over Bids Cease Trade OrderToronto, Ontario--(Newsfile Corp. - September 16, 2013) - On Friday, September 13, \n2013, following a contested hearing , the Bureau de Decision et de Revision \n(Quebec) (\"BDR\") issued its decision and cease trade order on the Zara Resources \nInc. (CNSX: ZRI) (\"Zara\") simultaneous bid for Visible Gold Mines Inc. \n(TSXV: VGD), Greencastle Resources Ltd (TSXV: VGN) and Altai Resources Inc. \n(TSXV: ATI) pending correction and translation of all offer documents into French \nand review by the Autorité des marchés financiers (\"AMF\"). \n\"Zara's novel and innovative multiple bids engaged the interest \nof the AMF and defensive arguments from 3 teams of expensive lawyers from the \ntargets, Visible, Greencastle and Altai. Zara was nearing completion of the \ntranslation processes at the time of the hearing\" said Danny Wettreich, Zara's \nChairman and CEO. \"We welcome the input of the AMF and recognize the merit of \nproviding enhanced disclosure offer documents to long suffering target \nshareholders. Zara will be filing the complete French versions of the offer \ndocuments, originally scheduled for Monday, September 16, 2013, upon \nsatisfaction of the terms of the order of the BDR and look forward to review by \nthe AMF. As a result of this delay, upon re-filing the offers will be extended \nand shareholders of all target companies will be notified of the new expiry date \nin due course.\" Mr Wettreich concluded. \nZara is a Toronto, Ontario-based mineral company developing its \nForge Lake gold project and its Pigeon River nickel-copper project in Ontario, \nCanada. It continues to seek the acquisition of other Canadian natural resource \nproperties. For further information please visit our website at www.ZaraResourcesInc.com.\nFor further information: \nDanny Wettreich, Chairman & CEO Zara Resources \nInc.Email: [email protected] \n647-931-9775\n\nForward-Looking Information: This press release may include forward-looking information within the meaning of Canadian securities legislation, concerning the business and trading in the common stock of Zara Resources Inc. The forward-looking \ninformation is based on certain key expectations and assumptions made by the company’s management. Although the company believes that the expectations and assumptions on ...