NEW YORK, July 12, 2013 /PRNewswire/ -- Blue Wolf
Mongolia Holdings Corp. (NASDAQ: MNGL) ("Blue Wolf" or the
"Company") today announced today that it is terminating, effective
immediately, its previously announced tender offer, as amended,
(the "Tender Offer") to purchase for cash up to 1,467,970 of its
ordinary shares, no par value ("Ordinary Shares"), at a price of
$9.97 per share, net to the seller in
cash, without interest. Blue Wolf terminated the Offer
because it did not satisfy the terms and conditions of each of its
offer to purchase, as amended and supplemented, and the Agreement
and Plan of Merger with Li3 Energy, Inc. ("Li3"). Blue Wolf
intends to terminate the Agreement and Plan of Merger and
will not consummate the merger of Li3 with and into its subsidiary,
Blue Wolf Acquisition Sub, Inc., and will, beginning on the first
business day following July 22, 2013:
(i) commence the process to distribute the aggregate amount in the
trust account, pro rata, less interest earned on the proceeds of
its initial public offering placed in the trust account, to its
public shareholders by way of redemption and (ii) cease all
operations except for the purposes of any winding up of its
affairs.
Blue Wolf is not accepting for payment any Ordinary Shares that
have been tendered, and such Ordinary Shares will be returned
promptly, without expense, to the holders who have tendered such
shares (or, in the case of shares tendered by book-entry transfer
through the DTC, such shares will be credited to the appropriate
account maintained with the DTC). The Tender Offer consideration of
$9.97 will not be paid or become
payable to any holders of Ordinary Shares pursuant to the Tender
Offer. Under no circumstances should Ordinary Shares be
tendered to Blue Wolf or DTC and, if tendered, such Ordinary Shares
will not be accepted and will be promptly returned to the tendering
shareholder.
This press release is for informational purposes only and is not
an offer to buy or the solicitation of an offer to sell or a
solicitation of consents with respect to any securities.
CONTACT:
Blue Wolf Mongolia Holdings Corp.
Lee O. Kraus, CEO &
Chairman
Phone: (203) 622-4903
SOURCE Blue Wolf Mongolia Holdings Corp.