VANCOUVER,
Aug. 21, 2013 /CNW/ - Coronado
Resources Ltd. (TSX-V: CRD) and (OTCQX: CRDAF)
("Coronado") is pleased to provide an update on Coronado's proposed change of business
acquisition of all of the outstanding common shares of Opunake
Hydro Limited from TAG Oil Ltd. and Opunake Hydro Holdings Limited
in exchange for common shares of Coronado (the "OHL Acquisition"),
which was announced on May 14,
2013. Coronado
received conditional acceptance from the TSX Venture Exchange in
respect of the OHL Acquisition on August 16,
2013.
As the OHL Acquisition is subject to the
approval of the shareholders of Coronado, the meeting of the shareholders of
Coronado will take place on
August 29, 2013. Further information
about the OHL Acquisition and the shareholders' meeting can be
found in the notice of meeting and information circular filed by
Coronado and available for viewing
on www.sedar.com.
Coronado is in
the process of applying for the requisite regulatory approval in
New Zealand and the transaction
remains subject to the final approval of the TSX Venture
Exchange. Coronado expects
that the OHL Acquisition will be completed during the third
calendar quarter of 2013.
Completion of the OHL Transaction is subject
to a number of conditions, including acceptance from the TSX
Venture Exchange and disinterested shareholder approval. The OHL
Acquisition cannot close until the required shareholder approval is
obtained. There can be no assurance that the OHL Acquisition will
be completed as proposed or at all.
The TSX Venture Exchange has in no way passed
upon the merits of the proposed OHL Acquisition and has neither
approved nor disapproved the contents of this press
release.
Neither 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 release.
Cautionary Note Regarding Forward-Looking
Statements:
Statements contained in this news release
that are not historical facts are forward-looking statements that
involve various risks and uncertainty affecting the business of
Coronado. Such statements can
generally, but not always, be identified by words such as
"expects", "plans", "anticipates", "intends", "estimates",
"forecasts", "schedules", "prepares", "potential" and similar
expressions, or that events or conditions "will", "would", "may",
"could" or "should" occur.
Forward-looking statements and information
concerning anticipated financial performance are based on
management's assumptions using information currently
available. Forward-looking statements in this news release
include Coronado's expectations
regarding the ability to complete, and the anticipated timing of,
the OHL Acquisition.
In making the forward-looking statements in
this news release, Coronado has
applied certain factors and assumptions that are based on
information currently available to Coronado as well as Coronado's current beliefs and assumptions
made by Coronado, including that
Coronado will be able to complete
the OHL Acquisition and that OHL will be able to maintain its
current operations and that a strategic plan for the near and
mid-term can be determined. Although Coronado considers these beliefs and
assumptions to be reasonable based on information currently
available to it, they may prove to be incorrect, and the
forward-looking statements in this release are subject to numerous
risks, uncertainties and other factors that may cause future
results to differ materially from those expressed or implied in
such forward-looking statements. Such risk factors include, among
others, that OHL's operations will not continue at their current
levels, and that Coronado will be
unable to determine or will experience delays in determining a
strategic plan for the near and mid-term range. Although
Coronado has attempted to identify
important factors that could cause actual results to differ
materially from those contained in forward-looking information,
there may be other factors that cause results not to be as
anticipated, estimated or intended. There can be no assurance that
such information 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 information. Coronado does not undertake to update any
forward-looking information, except in accordance with applicable
securities laws.
SOURCE CORONADO RESOURCES
LTD.