ROUYN-NORANDA, QC, Aug. 21, 2013 /CNW Telbec/ - Visible Gold Mines Inc. (TSX-V: VGD) (Frankfurt: 3V4) acknowledges the announcement made on August 19, 2013 by Zara Resources
Inc. (CNSX: ZIR) of its intention to make an unsolicited offer to purchase 100% of the
issued share capital of Visible Gold Mines, Altai Resources Inc. and
Greencastle Resources Ltd.
Visible Gold Mines has had no discussions with Zara and Visible Gold
Mines has not received any communications with any details or other
information regarding the intended Zara offer other than the
correspondence by which it received a copy of Zara's press release. As
a result, Visible Gold Mines is currently reviewing and evaluating the
announcement with its legal advisors. If required, a special committee
of the Board of Directors of Visible Gold Mines will be appointed to
assist the Board in considering the announcement as well as any formal
offer actually made in order to maximize value for the benefit of
Visible Gold Mines' shareholders and other stakeholders. Visible Gold
Mines intends to engage a financial advisor to assist the special
committee of the Board of Directors of Visible Gold Mines reviewing and
evaluating the announcement of Zara's intention to make an unsolicited
offer.
Visible Gold Mines recommends that shareholders defer taking any action
in respect of the possible Zara offer until shareholders have received
further communication from the Board of Directors of Visible Gold
Mines. In the event that an actual offer is made, the Board of Directors of
Visible Gold Mines will issue a directors' circular concerning the
actual offer. The directors' circular will contain important
information including the determination of the Board of Directors of
Visible Gold Mines with respect to a recommendation to Visible Gold
Mines shareholders.
About Visible Gold Mines
Visible Gold Mines Inc. is a dynamic company aggressively searching for
the next important gold deposit in northwestern Québec, an area
consistently ranked as one of the world's best jurisdictions for mining
and exploration.
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 the release.
SOURCE: Visible Gold Mines Inc.
Martin Dallaire, President and Chief Executive Officer
Telephone: 819-762-0609, Fax: 819-762-0097
E-mail: mdallaire@visiblegoldmines.com
Website: www.visiblegoldmines.com
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