/NOT FOR DISTRIBUTION IN THE UNITED STATES OR FOR DISSEMINATION TO US
NEWS WIRE SERVICES./
LONDON, UK, Nov. 29, 2013 /CNW/ - Afferro Mining Inc. ("Afferro", or the
"Company", ticker: AFF) is pleased to release the expected timetable of
principal events leading to the completion of the Arrangement, pursuant
to which International Mining & Infrastructure Corporation plc
("IMIC"), through its wholly owned subsidiary, Afferro Holdings Ltd.,
will acquire all of the issued and to be issued common share capital of
the Company.
Milestone
|
Date
|
IMIC posts Circular and Notice of General Meeting to shareholders
|
29 November 2013
|
IMIC General Meeting held to vote on the Arrangement
|
16 December 2013
|
Last day of dealings in Afferro shares
|
16 December 2013
|
Afferro shares suspended from trading on AIM and TSX-V and IMIC shares
suspended from trading on AIM
|
17 December 2013
|
Anticipated completion of the Arrangement
|
19 December 2013
|
Cancellation of admission to trading of Afferro shares on AIM and the
TSX-V
|
20 December 2013
|
These dates may be subject to change and such changes will be notified
to a Regulatory Information Service. As previously announced, the
outside date for the Arrangement remains at 31 December 2013.
Forward Looking Statements
This announcement includes certain forward-looking statements. All
statements, other than statements of historical fact, included herein
are forward-looking statements that involve various known and unknown
risks and uncertainties as well as other factors. Such forward looking
statements are subject to a number of risks and uncertainties that may
cause actual results or events to differ materially from current
expectations. There can be no assurance that such statements will prove
to be accurate and actual results and future events could differ
materially from those anticipated in such statements.
Information about the risks and uncertainties of the Company's business
is provided in its disclosure materials, including its Annual
Information Form for the 12 months ended 31 December 2012, available
under the Company's profile on SEDAR at www.sedar.com. Although the
Company has attempted to identify important factors that could cause
actions, events or results to differ materially from those described in
forward looking information, there may be other factors that cause
actions, events or results not to be as anticipated, estimated or
intended.
This news release contains forward-looking statements concerning the
expected completion date of the Arrangement. There can be no assurance
that the Arrangement will occur or that the anticipated strategic
benefits and operational, competitive and cost synergies will be
realized. The Arrangement remains conditional on approval by IMIC
shareholders and the satisfaction or waiver of the conditions to
closing, including receipt of all necessary regulatory approvals, and
there can be no assurance that any such approvals will be obtained in a
timely manner or at all and/or any such conditions will be met.
The Arrangement could be modified, restructured or terminated. Readers
are cautioned that the foregoing list of factors is not exhaustive.
Other risks and uncertainties not presently known to Afferro or that
Afferro presently believes are not material could also cause actual
results or events to differ materially from those expressed in the
forward-looking statements contained herein.
There can be no assurance that forward looking information will prove to
be accurate, as actual results and future events could differ
materially from those anticipated in such information. Accordingly,
readers should not place undue reliance on forward-looking information.
The forward-looking information contained herein, speaks only as of the
date hereof (unless stated otherwise) and, except as may be required by
applicable law, Afferro disclaims any obligation to update or modify
such forward-looking statements, either as a result of new information,
future events or for any other reason.
About Afferro
Afferro is an established exploration and development company listed on
the TSX-V (AFF) and AIM (AFF). Afferro's portfolio includes the 100%
owned Nkout, Ntem and Akonolinga iron ore projects. It also holds a 70%
interest in the Ngoa project, an exploration target bordering Nkout.
All projects are subject to government rights. Nkout has an Indicated
Mineral Resource Estimate of 1.6Bt at 33.3% Fe and an Inferred Mineral
Resource Estimate of 0.9Bt at 30.8% Fe which are supported by the
technical report titled "Mineral Resource Estimate and Preliminary
Economic Assessment for the Nkout Iron Project, Community of Djoum,
Cameroon May 2013" with the effective date May 28, 2013 . Ntem has an
Indicated Mineral Resource Estimate of 39.1Mt at 34.0% Fe and an
Inferred Mineral Resource Estimate of 76.4Mt at 34.2% Fe which are
supported by the technical report titled "Mineral Resource Estimate for
the Ntem (Fe08) Iron Ore Project, South Province, Cameroon May 2013,
with the effective date 3 May 2013.
Neither TSX Venture Exchange nor its Regulation Services Provider (as
that term is defined in policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release
SOURCE Afferro Mining Inc.
For further information please contact one of the following or visit the Company's website at www.afferro-mining.com:
Afferro Mining Inc.
Luis da Silva/Jeremy Cave
+44 (0) 20 7010 7680