VANCOUVER, BRITISH COLUMBIA — (Marketwired) — 10/08/14 — Argus Metals Corp. („Argus“) (TSX VENTURE: AML) provides an update on its planned acquisition of the Yanamina Gold Project in Peru and details of its planned private placement.
On June 16, 2014 the Company announced its proposed purchase of the Yanamina Gold project from Coronet Metals Inc. („Coronet“). The transaction would involve the Company acquiring Coronet–s wholly owned Peruvian subsidiary, Coronet Metals Peru S.A.C. („Coronet Peru“) in exchange for Argus:
Argus advises that since June 16, 2014:
CSE listing requirements do not require that Argus engage a sponsor or obtain shareholder approval to the transaction. A comprehensive CSE Listings Statement will be prepared and filed on SEDAR.
Argus intends to undertake the Private Placement on a non-brokered basis, using available prospectus exemptions, including the exemption under BCI 45-534 – Exemption from Prospectus Requirement for Certain Trades to Existing Security Holders, (effective March 2014) whereby all existing shareholders of Argus will have the right to participate. To that end, Argus advises that:
Argus– shares are currently halted from trading, and will remain halted pending listing on the CSE.
ON BEHALF OF THE BOARD OF DIRECTORS
Michael Collins, President and CEO
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.
We seek safe harbor.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION: This news release includes certain „forward-looking statements“ under applicable Canadian securities legislation. Forward-looking statements include, but are not limited to, statements with respect to: the terms and conditions of the proposed transaction; the terms and conditions of the proposed private placement; future exploration and testing; use of funds; and the business and operations of Argus after the proposed transaction. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: general business, economic, competitive, political and social uncertainties; delay or failure to receive board, shareholder or regulatory approvals; and the results of current exploration and testing. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. Argus and Coronet disclaim any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
Contacts: Argus Metals Corp. +1 (604) 764-7094
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