Kinbauri Gold Provides Update on Review of Strategic Alternatives
26 Junio 2009 - 9:04AM
Marketwired
Kinbauri Gold Corp. ("Kinbauri") (TSX VENTURE: KNB)(FRANKFURT:
3KG.DE) today provided an update on its review of strategic
alternatives to maximize shareholder value in response to the
unsolicited offer to purchase all of the outstanding Kinbauri
shares made by Orvana Minerals Corporation (TSX: ORV) ("Orvana").
The Special Committee (the "Special Committee") of the Board of
Directors of Kinbauri is continuing to conduct a value maximization
process that is designed to facilitate the proposal of superior
alternatives from qualified third parties. A number of parties have
entered into confidentiality and standstill agreements with
Kinbauri and are conducting due diligence that includes reviewing
materials in an electronic data room and site visits.
Gryphon Partners is acting as financial advisor to the Special
Committee and Wildeboer Dellelce LLP is acting as legal
advisor.
On June 9, 2009, Kinbauri's Board of Directors unanimously
recommended that Kinbauri shareholders REJECT the unsolicited offer
to purchase all of the outstanding Kinbauri shares made by Orvana
Minerals Corporation (TSX: ORV) ("Orvana") as described in a
take-over bid circular dated May 25, 2009.
Shareholders do not have to take any action on the Orvana offer
and the Kinbauri Board urges you to reject it.
For assistance in withdrawing any shares already tendered, or
other questions, please contact Laurel Hill Advisory Group, the
Information Agent retained by Kinbauri in connection with the
Orvana Offer, toll free at 1-888-812-9184 from anywhere in Canada
or the United States and collect at 416-637-4661 from outside North
America.
About Kinbauri
Kinbauri (TSX VENTURE: KNB) is a mineral exploration company
focused on the development of precious metal prospects in Spain,
Nevada and Canada. Its immediate focus is to begin operations at
its El Valle/Carles property in Asturias, northwestern Spain in
2010. It currently has 59,348,051 common shares issued and
outstanding. For more information visit www.kinbaurimaximized.com
or www.kinbauri-gold.com.
This press release contains certain forward-looking statements,
which are based on the opinions and estimates of management at the
date the statements are made, and are subject to a variety of risks
and uncertainties and other factors that could cause actual events
or results to differ materially from those projected. Kinbauri
undertakes no obligation to update forward-looking statements if
circumstances or management's estimates or opinions should change.
The reader is cautioned not to place undue reliance on
forward-looking statements.
THIS PRESS RELEASE WAS PREPARED BY KINBAURI GOLD CORP. THE TSX
VENTURE EXCHANGE DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR
ACCURACY OF THIS RELEASE.
Contacts: Kinbauri Gold Corp. Mr. Brian McEwen Director, Special
Committee member 613-836-2594 613-831-2730 (FAX)
bmcewen@kinbauri-gold.com Europe INVESTEL Ruediger (Rudy) Hnyk, CEO
Investor Relations & Telecommunications ceo@investel.de
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