Argonaut Gold Inc. and Pediment Gold Corp. Complete Business Combination
27 1월 2011 - 10:41PM
Marketwired
Argonaut Gold Inc. (TSX: AR) ("Argonaut" or the "Company") and
Pediment Gold Corp. (TSX: PEZ)(OTCBB: PEZGF) ("Pediment") are
pleased to announce the completion of their previously announced
plan of arrangement (the "Arrangement").
Pursuant to the Arrangement, Argonaut has acquired all of the
issued and outstanding common shares of Pediment ("Pediment
Shares") in a transaction valued at approximately $137 million. In
accordance with the Arrangement, former Pediment shareholders are
entitled to receive 0.625 of a common share of Argonaut ("Argonaut
Shares") for each Pediment Share. Outstanding options to acquire
Pediment Shares have been converted into options to acquire
Argonaut Shares, adjusted in accordance with the same ratio. The
Pediment common shares are expected to be delisted from the TSX on
or about February 1, 2011. The Argonaut Shares issued under
Arrangement will be listed on the TSX the same day that the
Pediment Shares are de-listed from the TSX. The Pediment Shares
will also be removed from quotation on the OTCBB. We anticipate the
share certificates representing the Argonaut Shares issued pursuant
to the Arrangement will be sent to the former Pediment shareholders
place shortly after the de-listing, for more information regarding
the new Argonaut share certificates please refer to Computershare
Investor Services Inc. at Toll Free: 1.800.564.6253 (North
America); Telephone: 1.514.982.7555 (Overseas); E-Mail:
corporateactions@computershare.com.
As part of the Arrangement, Peter Mourdant will be appointed to
the board of directors of Argonaut.
Mr. Dougherty President and CEO of Argonaut stated "We are
pleased to have completed the amalgamation of Pediment into the
Argonaut family. This marks an important step in our goals of
creating the next immerging mid-tier gold producer. We appreciate
the continued support of our shareholders, and welcome our new
shareholders formerly of Pediment."
About Argonaut Gold Inc.
Argonaut is a gold company engaged in exploration, mine
development and production activities. Its primary assets are the
producing El Castillo Mine, early stage development project San
Antonio and two advance stage exploration projects La Colorada and
La Fortuna all located in Northern Mexico. For further information
about Argonaut, including summary technical information, please see
the Annual Information Form of Argonaut dated March 31, 2010 in
relation to the year ended December 31, 2009 and our web site at
www.argonaugoldinc.com.
Cautionary Note Regarding Forward-looking Statements
This news release contains forward looking statements of
Argonaut and Pediment, within the meaning of the U.S. Private
Securities Litigation Reform Act of 1995 and within the meaning of
applicable Canadian provincial securities legislation.
Forward-looking statements are statements which are not historical
facts. There can be no assurance that such statements will prove
accurate. Such statements are necessarily based upon a number of
assumptions that are subject to numerous risks and uncertainties
that could cause actual results and future events to differ
materially from those anticipated or projected. Important factors
that could cause actual results to differ materially from
Argonaut's or Pediment's expectation are in the documents filed by
Argonaut and Pediment, respectively, from time to time with the
Toronto Stock Exchange and provincial securities regulators, most
of which are available at www.sedar.com. Other than as required by
applicable securities legislation, Argonaut and Pediment disclaim
any intention and assumes no obligation to revise or update any
forward-looking statement even if new information becomes
available, as a result of future events or for any other
reason.
Contacts: Argonaut Gold Inc. Nichole Cowles Investor Relations
Manager (775) 284-4422 x 101 www.argonautgoldinc.com
Argonaut Gold (TSX:AR)
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