www.aldridgeminerals.ca
TSX-V: AGM
TORONTO, Nov. 13, 2018 /CNW/ - Aldridge Minerals Inc.
(TSX-V: AGM) ("Aldridge" or the "Company") today
announced that its previously announced plan of arrangement under
section 192 the Canada
Business Corporations Act (the "Arrangement") has
been approved at a special meeting of the Company's shareholders.
The Arrangement received support from 89,052,134 of the votes cast
(or 100%) by shareholders present in person or by proxy. In
addition, the Arrangement received support from 26,774,081 of the
votes cast (or 100%) by the Company's "minority" shareholders
present in person or by proxy at the meeting fulfilling the
majority of the minority approval requirements of Multilateral
Instrument 61-101.
Completion of the Arrangement is subject to customary and other
conditions including, among other things, approval of the Ontario
Superior Court of Justice. If such approval is obtained, and all
other conditions to completion of the Arrangement are satisfied or
waived, Aldridge and Virtus Mining Ltd. expect to close the
Arrangement prior to November 30,
2018.
The Company will make further announcements regarding the
approval by the court and the implementation of the Arrangement, as
appropriate.
Caution Regarding Forward-Looking Information
This news release contains forward-looking information within
the meaning of applicable securities laws that reflects the current
expectations, estimates and projections of management about the
future results, performance, achievements, prospects or
opportunities for the companies following the transaction and
expectations regarding whether a transaction will be consummated,
including whether conditions to the consummation of the transaction
will be satisfied, or the timing for completing the transaction.
When used in this press release, words such as "proposed", "may",
"would", "could", "will", "expect", "anticipate", "estimate",
"believe", "intend", "plan", and other similar expressions are
intended to identify forward-looking statements.
Forward-looking statements set out in this news release are
subject to a number of known and unknown risks, uncertainties and
other factors that could cause actual results, performance,
prospects and opportunities to differ materially from those
expressed in or implied by such forward-looking statements. Such
risks, uncertainties and factors, include, but are not limited to,
the ability of the Company to satisfy the conditions to completion
of the Arrangement, including to reach an acceptable commercial
arrangement with BKT in respect of its secured term credit
facility, and to obtain court approvals of the Arrangement; the
occurrence of any event, change or other circumstance that could
give rise to the termination of the Arrangement Agreement; the
retention of employees, tenants, suppliers and other personnel
being adversely affected by uncertainty surrounding the
Arrangement; the availability of funds pursuant to the Loan; and
the other factors discussed under the heading "Risk Factors" in the
Company's Management's Discussion and Analysis for the year ended
December 31, 2017 and in other
continuous disclosure filings made by the Company with Canadian
securities regulatory authorities and available at www.sedar.com.
Any number of important factors could cause actual results to
differ materially from these forward-looking statements as well as
future results.
Forward-looking statements set out in this news release are
based on a number of factors and assumptions which have been used
to develop such information but which may prove to be incorrect,
including, but not limited to, assumptions in connection with the
continuance of Aldridge and its subsidiaries as a going concern,
Aldridge's ability to complete the transaction and the absence of
viable alternative transactions; that funds will be made available
to Aldridge pursuant to the Loan; and general economic, political
and market conditions, mineral prices, and the accuracy of mineral
resource estimates. Although Aldridge believes that the assumptions
and factors used in making the forward-looking statements are
reasonable, undue reliance should not be placed on these
statements, which only apply as of the date of this news release,
and no assurance can be given that such events will occur in the
disclosed time frames or at all. Aldridge disclaims any intention
or obligation to update or revise any forward-looking statement,
whether as a result of new information, future events or otherwise
unless required by law.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this news release.
SOURCE Aldridge Minerals Inc.