New Directors Appointed to Kinbauri's Board
01 9월 2009 - 12:00AM
Marketwired
Kinbauri Gold Corp. (TSX VENTURE: KNB)(FRANKFURT: 3KG.DE) today
announced the appointment of Peter Bradshaw, Richard Garnett, Kent
Jespersen, Malcolm King and Robert Mitchell to its board of
directors. The new directors have been appointed in connection with
the acquisition by Orvana Minerals Corp. of a majority of
Kinbauri's outstanding common shares. In connection with these
appointments, each of Vern Rampton, Marilyn Bloovol, Christopher
Gleeson and Brian McEwen has resigned as a director of Kinbauri.
Kinbauri also announced the resignations of Vern Rampton as
President and Chief Executive Officer, Simon Britt as Chief
Financial Officer, Christopher Gleeson as Vice-President
Exploration, and Christopher Irwin as Secretary, and the
appointment of Malcolm King as President and Chief Executive
Officer, Bill Williams as Vice President, Corporate Development,
and Wendy Sikora as Corporate Controller.
Kinbauri also confirmed that it is in the process of mailing a
circular to shareholders in connection with its previously
announced shareholders' meeting to be held on September 22, 2009.
At the meeting, shareholders will be asked to approve the
amalgamation of Kinbauri and Orvana Minerals Acquisitions Corp., a
wholly-owned subsidiary of Orvana Minerals Corp. The corporation
resulting from the proposed amalgamation will be a wholly-owned
subsidiary of Orvana Minerals Corp. As a result of the
amalgamation, Kinbauri shareholders other than Orvana Minerals
Acquisition Corp. and any shareholders who exercise statutory
dissent rights will be entitled to receive $0.75 for each Kinbauri
common share held by them. Kinbauri has been advised by Orvana
Minerals Corp. that, through it its wholly-owned subsidiary Orvana
Minerals Acquisition Corp., Orvana has acquired approximately 94.9%
of Kinbauri's outstanding shares and that it intends to vote in
favour of the proposed amalgamation. It is anticipated that the
corporation resulting from the amalgamation will take steps to
delist its shares from trading on the TSX Venture Exchange and to
cease to be a reporting issuer under applicable securities
laws.
About Kinbauri
Kinbauri (TSX VENTURE: KNB) is a mineral exploration company
focused on the development of precious metal prospects in Spain,
Nevada and Canada.
Forward Looking Disclaimer
Certain statements contained in this press release concerning
objectives, goals, strategies, intentions, plans, beliefs,
expectations and estimates are forward-looking statements. The
words "believe", "expect", "intend", "may", "anticipate", "will",
"would" and similar expressions and the negative of such
expressions are intended to identify forward-looking statements,
although not all forward-looking statements contain these
identifying words. These forward-looking statements are not based
on historical facts, but rather on current expectations,
assumptions and projections about future events. While Kinbauri
considers these expectations, assumptions and projections to be
reasonable based on information currently available, they may be
proven to be incorrect. Known and unknown factors could cause
actual results to differ materially from those projected in the
forward-looking statements. Such factors include, but are not
limited to, risks relating to any failure by Orvana to acquire the
remaining outstanding shares of Kinbauri that it does not own;
general economic conditions; dependence on key personnel; and
variations in required capital expenditures. Given these
uncertainties, readers are cautioned not to place undue reliance on
such forward-looking statements.
Contacts: Longview Communications Louise Kozier: 604-694-6033
Alan Bayless: 604-694-6035 Kinbauri Gold Corp. Malcolm King:
416-369-1629 www.kinbauri-gold.com
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