The Minister of Industry, under the Investment Canada Act
(Canada), has approved the
Arrangement upon the basis that the Arrangement is likely to
be of net benefit to Canada.
Completion of the Arrangement remains conditional on
satisfaction of other conditions precedent such as the
approval of the Hong Kong Stock Exchange to permit the
Purchaser to complete the Arrangement. Subject to the
satisfaction or waiver of these and all other conditions
precedent, Grande Cache Coal anticipates that the Arrangement
will be completed on or about February 28,
2012.
Upon completion of the Arrangement, the Purchaser will
acquire all of the issued and outstanding common shares of
the Corporation at a cash price of C$10.00 per share, for a
total cash consideration of approximately C$1.0 billion. The
details of the Arrangement are described in the
Corporation's management information circular dated
December 12, 2011 and the arrangement agreement which are
available for review at www.sedar.comunder
the Corporation's profile.
About Grande Cache Coal
Grande Cache Coal is an Alberta based metallurgical coal mining company whose experienced team of coal professionals are managing a mine that produces metallurgical coal for the steel industry and holds coal leases covering over 22,000 hectares containing an estimated 346 million tonnes of coal resources in the Smoky River Coalfield located in west-central Alberta. Grande Cache Coal's common shares are listed on the Toronto Stock Exchange under the trading symbol "GCE".
W: 60124 001Press Releases2012News Release - February 8, 2012.docx
For further information, please contact:
Ian Bootle
Vice President, Finance and Chief Financial Officer
Grande Cache Coal Corporation Suite 1610, 800 - 5th Avenue
S.W. Calgary, Alberta T2P 3T6
Canada
Telephone: (403) 543-7070
Facsimile: (403) 543-7092 www.gccoal.com
This news release contains forward-looking statements and
forward-looking information within the meaning of applicable
securities laws. The use of any of the words
"expect", "anticipate",
"continue", "estimate",
"objective", "ongoing", "may",
"will", "project", "should",
"believe", "plans", "intends"
and similar expressions are intended to identify
forward-looking statements or information. More particularly
and without limitation, this news release contains
forward-looking statements and information concerning the
anticipated completion of the Arrangement and the anticipated
timing for completion of the Arrangement.
In respect of the forward-looking statements and information
concerning the anticipated completion of the Arrangement and
the anticipated timing for completion of the Arrangement,
Grande Cache Coal has provided such in reliance on certain
assumptions that it believes are reasonable at this time,
including assumptions as to the ability of the parties to
receive, in a timely manner, the necessary regulatory
approvals, including but not limited to Hong Kong Stock
Exchange approval; and the ability of the parties to satisfy,
in a timely manner, the other conditions to the closing of
the Arrangement. These dates may change for a number of
reasons, including inability to secure necessary approvals in
the time assumed or the need for additional time to satisfy
the other conditions to the completion of the Arrangement.
Accordingly, readers should not place undue reliance on the
forward-looking statements and information contained in this
news release concerning these times.
Risks and uncertainties inherent in the nature of the
Arrangement include the failure of Grande Cache Coal, the
Purchaser or Winsway to obtain necessary approvals, or to
otherwise satisfy the conditions to the Arrangement, in a
timely manner, or at all. Failure to so obtain such
approvals, or the failure of Grande Cache Coal, the Purchaser
or Winsway to otherwise satisfy the conditions to the
Arrangement, may result in the Arrangement not being
completed on the proposed terms, or at all. In addition, the
failure of Grande Cache Coal to comply with the terms of the
Arrangement Agreement may result in Grande Cache Coal being
required to pay a non- completion or other fee to the
Purchaser, the result of which could have a material adverse
effect on Grande Cache Coal's financial position and
results of operations and its ability to fund growth
prospects and current operations.
Readers are cautioned that the foregoing list of factors is
not exhaustive. Additional information on other factors that
could affect the operations or financial results of Grande
Cache Coal are included in reports on file with applicable
securities regulatory authorities, including but not
W: 60124 001Press Releases2012News Release - February 8, 2012.docx
limited to, Grande Cache Coal's Annual Information Form
for the fiscal year ended March 31,
2011 which may be accessed on Grande Cache Coal's SEDAR
profile at www.sedar.com.
The forward-looking statements and information contained in
this news release are made as of the date hereof and Grande
Cache Coal undertakes no obligation to update publicly or
revise any forward-looking statements or information, whether
as a result of new information, future events or otherwise,
unless so required by applicable securities laws.
W: 60124 001Press Releases2012News Release - February 8, 2012.docx
distribué par | Ce noodl a été diffusé par Grande Cache Coal Corporation et initialement mise en ligne sur le site http://www.gccoal.com. La version originale est disponible ici. Ce noodl a été distribué par noodls dans son format d'origine et sans modification sur 2012-02-08 20:00:00 PM et restera accessible depuis ce lien permanent. Cette annonce est protégée par les règles du droit d'auteur et toute autre loi applicable, et son propriétaire est seul responsable de sa véracité et de son originalité. |
Documents associés | |
Grande Cache Coal Provides Update with Respect to Its Plan of Arrangement |