Pan American Silver and Minefinders Announce Final Court Approval of the Plan of Arrangement
29 March 2012 - 5:45AM
Marketwired
Pan American Silver Corp. (TSX:PAA)(NASDAQ:PAAS) ("Pan American")
and Minefinders Corporation Ltd. (TSX:MFL)(NYSE Amex:MFN)
("Minefinders") are pleased to announce that the Ontario Superior
Court of Justice has issued a final order approving the previously
announced statutory plan of arrangement (the "Arrangement") between
Minefinders and Pan American under the Business Corporations Act
(Ontario). Pursuant to the Arrangement, Pan American will acquire
all of the issued and outstanding common shares of Minefinders. As
previously announced, on March 26, 2012, Minefinders and Pan
American both received the required levels of approval of their
respective securityholders at their special meetings held in
connection with the Arrangement.
Subject to the satisfaction or waiver of all conditions to the
Arrangement, Pan American and Minefinders expect the Arrangement to
be effective on or about Friday, March 30, 2012.
Registered shareholders of Minefinders will be required to
submit their certificates representing common shares of Minefinders
together with a letter of transmittal to Kingsdale Shareholder
Services Inc. prior to receiving the consideration to which they
are entitled upon completion of the Arrangement. Minefinders
shareholders with questions about the process to submit their
certificates may contact Kingsdale toll-free at 1-877-657-5859.
Outside of North America, please dial 416-867-2272, or email
contactus@kingsdaleshareholder.com.
About Pan American
Pan American's mission is to be the world's largest low-cost
primary silver mining company by increasing its low-cost silver
production and silver reserves. It has seven operating mines in
Mexico, Peru, Argentina and Bolivia. Pan American also owns the
Navidad project in Chubut, Argentina, and is the operator of the La
Preciosa project in Durango, Mexico. For more information about Pan
American, please visit Pan American's website at
www.panamericansilver.com.
About Minefinders
Minefinders is a precious metals mining and exploration company
and operates the multi-million ounce Dolores gold and silver mine
in Mexico. For more information about Minefinders, please visit
Minefinders' website at www.minefinders.com.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS
CERTAIN OF THE STATEMENTS AND INFORMATION IN THIS NEWS RELEASE
CONSTITUTE "FORWARD-LOOKING STATEMENTS" WITHIN THE MEANING OF THE
UNITED STATES PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995 AND
"FORWARD-LOOKING INFORMATION" WITHIN THE MEANING OF APPLICABLE
CANADIAN PROVINCIAL SECURITIES LAWS. ALL STATEMENTS, OTHER THAN
STATEMENTS OF HISTORICAL FACT, ARE FORWARD-LOOKING STATEMENTS. WHEN
USED IN THIS NEWS RELEASE, THE WORDS, "TO BE", "MAY", "WILL",
"EXPECT", "INTEND", "ANTICIPATED", "ESTIMATED", AND OTHER SIMILAR
WORDS AND EXPRESSIONS, IDENTIFY FORWARD-LOOKING STATEMENTS OR
INFORMATION. THESE FORWARD-LOOKING STATEMENTS OR INFORMATION RELATE
TO, AMONG OTHER THINGS: THE ANTICIPATED DATE FOR CLOSING OF THE
ARRANGEMENT; AND OTHER STATEMENTS THAT ARE NOT HISTORICAL FACT.
THESE FORWARD-LOOKING STATEMENTS OR INFORMATION REFLECT
MINEFINDERS' AND PAN AMERICAN'S (COLLECTIVELY, THE "COMPANIES")
CURRENT VIEWS WITH RESPECT TO FUTURE EVENTS AND ARE NECESSARILY
BASED UPON A NUMBER OF ASSUMPTIONS AND ESTIMATES THAT, WHILE
CONSIDERED REASONABLE BY THE COMPANIES, ARE INHERENTLY SUBJECT TO
SIGNIFICANT UNCERTAINTIES AND CONTINGENCIES. MANY FACTORS, BOTH
KNOWN AND UNKNOWN, COULD CAUSE ACTUAL EVENTS, RESULTS OR
ACHIEVEMENTS TO BE MATERIALLY DIFFERENT FROM THE EVENTS, RESULTS,
OR ACHIEVEMENTS THAT ARE OR MAY BE EXPRESSED OR IMPLIED BY SUCH
FORWARD-LOOKING STATEMENTS CONTAINED IN THIS NEWS RELEASE. SUCH
FACTORS INCLUDE, WITHOUT LIMITATION: FAILURE OR DELAY TO SATISFY
THE OTHER CONDITIONS REQUIRED FOR COMPLETION OF THE ARRANGEMENT.
INVESTORS ARE CAUTIONED AGAINST ATTRIBUTING UNDUE CERTAINTY OR
RELIANCE ON FORWARD-LOOKING STATEMENTS OR INFORMATION. ALTHOUGH THE
COMPANIES HAVE ATTEMPTED TO IDENTIFY IMPORTANT FACTORS THAT COULD
CAUSE ACTUAL RESULTS TO DIFFER MATERIALLY, THERE MAY BE OTHER
FACTORS THAT CAUSE RESULTS NOT TO BE AS ANTICIPATED, ESTIMATED,
DESCRIBED OR INTENDED. THE COMPANIES DO NOT INTEND, AND DOES NOT
ASSUME ANY OBLIGATION, TO UPDATE THESE FORWARD-LOOKING STATEMENTS
OR INFORMATION TO REFLECT CHANGES IN ASSUMPTIONS OR CHANGES IN
CIRCUMSTANCES OR ANY OTHER EVENTS AFFECTING SUCH STATEMENTS OR
INFORMATION, OTHER THAN AS REQUIRED BY APPLICABLE LAW.
Contacts: Minefinders Corporation Ltd. Jonathan Hackshaw
Director of Corporate Communications (604) 687-6263 extension
113jon@minefinders.com www.minefinders.com Contacts: Pan American
Silver Corp. Kettina Cordero Manager, Investor Relations (604)
684-1175info@panamericansilver.com www.panamericansilver.com
Minefinders (AMEX:MFN)
Historical Stock Chart
From May 2024 to Jun 2024
Minefinders (AMEX:MFN)
Historical Stock Chart
From Jun 2023 to Jun 2024