Coronado Announces Acquisition of Opunake Hydro Limited

About this update from Lqwd Technologies Corp

[{"type":"text","content":"\n\n\n\n\n\nVANCOUVER, May 14, 2013 /CNW/ - Coronado Resources Ltd. (TSX-V: CRD) and (OTCQX: CRDAF) (\"Coronado\" or the \"Company\") is pleased to announce that it has\n entered into a binding share purchase agreement dated May 13, 2013 (the\n \"Share Purchase Agreement\"), whereby Coronado has agreed to acquire all\n of the outstanding common shares of Opunake Hydro Limited (\"OHL\") from\n TAG Oil Ltd. (\"TAG\") and Opunake Hydro Holdings Limited (\"OHHL\") in\n exchange for common shares of Coronado (the \"OHL Acquisition\"), subject\n to the terms and conditions of the Share Purchase Agreement.\n\n\nThe Proposed Acquisition\n\n\nUnder the Share Purchase Agreement, Coronado agrees to issue 13,015,410\n common shares to TAG in exchange for 90% of the issued and outstanding\n shares of OHL and 1,446,157 common shares to OHHL in exchange for 10%\n of the issued and outstanding shares of OHL, representing an aggregate\n purchase price of CDN$5,584,000 based on the volume weighted average\n price of Coronado's common shares on the TSX Venture Exchange (the\n \"TSX-V\") for the 20 consecutive trading days ending on May 10, 2013.\n\n\nThe completion of the OHL Acquisition is subject to a number of\n conditions, including:\n\n\n(a)     approval of Coronado's shareholders at a special meeting to be\n called to consider the OHL Acquisition, including the approval of a\n majority of disinterested shareholders, excluding TAG and any of its\n affiliates;\n\n\n(b)     receipt of all required regulatory approvals, including the\n consent from the Overseas Investment Office of New Zealand and acceptance by the TSX-V;\n\n\n(c)     compliance by the parties to the Share Purchase Agreement with\n all covenants and agreements in such agreement;\n\n\n(d)     no material adverse effect with respect to OHL; and\n\n\n(e)     other conditions precedent set forth in the Share Purchase\n Agreement.\n\n\nThe full text of the Share Purchase Agreement may be found under\n Coronado's profile at www.sedar.com.  Additional information will be provided in the management information\n circular to be prepared in connection with the annual and special\n meeting of Coronado shareholders to approve the OHL Acquisition.\n\n\nDescription...

More updates from Lqwd Technologies Corp