Till Capital Ltd. (TSX.V: TIL) (the "Company" or "Till")
announces that the common shares of Americas Bullion Royalty Corp.
("AMB") were delisted from the Toronto Stock Exchange at the close of
trading on April 23, 2014, and that the restricted voting shares of Till
(the "Till Shares") have commenced trading on the TSX Venture Exchange
("TSX-V") under the stock symbol TIL. The Company has a total of
3,612,684 Till Shares outstanding as at April 24, 2014.
As a result of the arrangement (the "Arrangement"), shareholders of
AMB (the "AMB Shareholders") received 0.01 of Till Share in exchange for
each common share of AMB held by such AMB Shareholder. Till issued
1,806,789 Till Shares to former AMB Shareholders under the Arrangement. Till
also purchased certain assets of Kudu Partners, L.P. ("Kudu") under the
Arrangement in exchange for the issuance of 1,805,895 Till Shares
pursuant to an asset purchase agreement between Till and Kudu dated
April 17, 2014.
Company Assets
On April 17th, 2014, Till
completed the Arrangement with AMB (see AMB news release dated April 17th,
2014) and the general nature of the assets of Till include:
-
Over CAD$35 million in cash and securities; and
-
Approximately 55 separate royalty interests, including deeded and
option royalties;
-
Ownership of all of the issued and outstanding shares of Resource Re
Ltd., which holds a Class 3A insurance license in Bermuda;
-
Assuming completion of the proposed subscription, on a private
placement basis, of common shares of Silver Predator Corp. ("SPD")
(see AMB news release dated March 25th, 2014), ownership of
up to 83,000,000 shares of SPD, representing approximately 64% of the
issued and outstanding shares of SPD, assuming no additional shares
are issued by SPD;
-
Ownership of 14,963,584 shares of Golden Predator Mining Corp.
("GPY"), representing approximately 54% of the issued and outstanding
shares of GPY, assuming no additional shares are issued by GPY;
-
Ownership of 6,000,000 shares of Wolfpack Gold Corp. ("WFP"),
representing approximately 12% of the issued and outstanding shares of
WFP, assuming no additional shares are issued by WFP; and
-
Ownership of Cuesta del Cobre, S.A.; interest in the Adelaide,
Tuscarora and Carlin Vanadium Projects in Nevada, USA; and
-
Approximately 160 oz of gold bullion.
Full details of the Arrangement are described in the management
information circular of AMB dated February 21, 2014, the arrangement
agreement between AMB and Till dated February 18, 2014, as amended by
amending agreement dated March 25, 2014, and the press release of AMB
dated March 25, 2014, all of which are available under AMB's company
profile on SEDAR at www.sedar.com.
Further details about Till are set out in the TSX-V listing application
of Till dated April 22, 2014, which is available under Till's company
profile on SEDAR at www.sedar.com.
Till Capital Ltd.
Till Capital merges talented teams to lead
a unique Bermuda-domiciled company primarily engaged in the reinsurance
business, supported by ancillary investments in royalties and equity
holdings in the resource sector. This non-traditional approach creates a
company with diversified investments and significant upside potential,
well-positioned for future growth through access to and strategic
deployment of capital. Till brings together a key technical team from
the financial and market side with the specific engineering, mining,
metallurgical and geological expertise.
For additional information:
Till Capital Ltd.
William M. Sheriff
Chairman
and Chief Executive Officer
(208) 635 5415
info@tillcap.com
www.tillcap.com
Cautionary Note
The Till shares are restricted voting
shares, whereby no single shareholder of Till is able to exercise voting
rights for more than 9.9% of the voting rights of the total issued and
outstanding Till shares (the "9.9% Restriction"). However, if any one
shareholder of Till beneficially owns, or exercises control or direction
over, more than 50% of the issued and outstanding Till shares, the 9.9%
Restriction will cease to apply to the Till shares.
This news release shall not constitute an offer to sell or a
solicitation of an offer to buy any securities of Till or any other
securities, and shall not constitute an offer, solicitation or sale in
any state or jurisdiction in which such an offer, solicitation or sale
would be unlawful. Trading in the securities of Till should be
considered speculative.
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.
Cautionary Statement Regarding Forward Looking Information
Except
for statements of historical fact, this news release contains certain
"forward-looking information" within the meaning of applicable
securities law. Forward-looking information is frequently characterized
by words such as "plan", "expect", "project", "intend", "believe",
"anticipate", "estimate", "will", "could" and other similar words, or
statements that certain events or conditions "may" occur. Such
forward-looking statements are subject to risks and uncertainties that
may cause actual results, performance or developments to differ
materially from those contained in the statements. These and all
subsequent written and oral forward-looking information are based on
estimates and opinions of management on the dates they are made and are
expressly qualified in their entirety by this notice. Except as required
by law, Till assumes no obligation to update forward-looking information
should circumstances or management's estimates or opinions change.
Copyright Business Wire 2014