VANCOUVER, Sept. 23, 2015 /CNW/ - Red Eagle Mining
Corporation (TSX-V: RD, OTCQX: RDEMF, SSE-V: RDCL) provided a
Subsequent Offering Period of ten days after acquiring all of the
common shares ("Shares") of CB Gold Inc. ("CB Gold")
which were tendered to its share exchange takeover bid (the
"Offer") on September 14,
2015. All CB Gold shareholders are reminded that the
Subsequent Offering Period expires at 4:00 PM Eastern Time on Friday, September 25, 2015 ("Expiry
Time") and that it will not be extended. No further
action is required for Shares which have already been tendered.
Red Eagle Mining now owns 47% of CB Gold. Batero Gold
Corp. ("Batero") did not acquire any Shares under its bid
which expired on September 18, 2015
and instead extended the bid to Monday,
September 28, 2015. Shareholders of CB Gold should
contact Laurel Hill immediately for
assistance to tender to the Offer or if they have tendered their CB
Gold Shares to Batero in order to withdraw them as there is no
assurance Batero will take up the Shares.
How to Tender Shares to the Offer
Shareholders who wish to tender their CB Gold Shares to the Red
Eagle Mining Offer should simply call and provide tender
instructions to their advisor before the Expiry Time.
Shareholders are encouraged to provide tender instructions well in
advance of the expiry as nominees may implement internal tender
submission deadlines as early as today.
Any questions regarding the Offer and how to tender CB Gold
Shares should be directed to the Information Agent, Laurel Hill
Advisory Group at +1 877 452 7184 (North American Toll-Free) or +1
416 304 0211 (Collect Calls) or by email at
assistance@laurelhill.com.
About the Red Eagle Mining Offer
The Red Eagle Mining Offer is for all of the issued and
outstanding Shares of CB Gold, including any CB Gold Shares that
may become issued and outstanding upon the exercise of existing CB
Gold convertible securities. Under the terms of the Offer,
each CB Gold Share will be exchanged for 0.162 of a Red Eagle
Mining common share with an implied value of $0.05 per CB Gold Share. The Offer will
remain open until 4:00 PM Eastern
Time on September 25,
2015.
The full details of the Offer are set out in the takeover bid
circular, accompanying offer documents and the notice of variation
and extension (collectively the "Offer Documents"), which
Red Eagle Mining has filed with Canadian securities regulatory
authorities on SEDAR and mailed to CB Gold's shareholders. CB
Gold shareholders are encouraged to carefully review the Offer
Documents, which contains the full terms and conditions of the
Offer as well as detailed instructions on how to tender their
common shares to the Offer. No further action is required for
Shares which have already been tendered.
This press release does not constitute an offer to buy or an
invitation to sell, or the solicitation of an offer to buy or
invitation to sell, any securities of Red Eagle Mining or CB
Gold. Such an offer may only be made pursuant to an offer and
takeover bid circular filed with the securities regulatory
authorities in Canada and pursuant
to registration or qualification under the securities laws of any
other such jurisdiction.
Advisors
Red Eagle Mining has engaged National Bank Financial Inc. as its
financial advisor and Farris Vaughan
Wills & Murphy LLP as its legal counsel in respect of
the Offer.
About Red Eagle Mining
Red Eagle Mining is a well-financed gold exploration and
development corporation with an experienced mine-development
team. Management is focused on building shareholder value
through discovering and developing gold projects with low costs and
low technical risks in Colombia, a
jurisdiction with prolific historic production but until recently
limited modern exploration. Red Eagle Mining is developing
the 100 square kilometre historic Santa Rosa Gold Project located
in the Antioquia Batholith. Construction is underway at the
fully permitted and fully financed San Ramon Gold Mine with
production expected to commence in the second half of 2016.
Neither the 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. This news release includes
forward-looking statements that are subject to risks and
uncertainties. All statements within, other than statements
of historical fact, are to be considered forward looking.
Although the Company believes the expectations expressed in
such forward-looking statements are based on reasonable
assumptions, such statements are not guarantees of future
performance and actual results or developments may differ
materially from those in forward-looking statements. Factors
that could cause actual results to differ materially from those in
forward-looking statements include market prices, exploitation and
exploration successes, continued availability of capital and
financing, and general economic, market or business conditions.
There can be no assurances that such statements will prove
accurate and, therefore, readers are advised to rely on their own
evaluation of such uncertainties. We do not assume any
obligation to update any forward-looking statements. This news
release does not constitute an offer to sell or a solicitation of
an offer to sell any securities in the United States. The
securities have not been and will not be registered under the
United States Securities Act of 1933, as amended (the "U.S.
Securities Act") or any state securities laws and may not be
offered or sold within the United
States or to U.S. Persons unless registered under the U.S.
Securities Act and applicable state securities laws or an exemption
from such registration is available.
SOURCE Red Eagle Mining Corporation