Compañia Minera Milpo S.A.A. Completes Acquisition of Inca Pacific Resources Inc.
27 October 2011 - 7:10AM
PR Newswire (Canada)
/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED STATES OF AMERICA. FAILURE TO
COMPLY WITH THIS RESTRICTION MAY CONSTITUTE A VIOLATION OF U.S.
SECURITIES LAWS/ VANCOUVER AND LIMA, Peru, Oct. 26, 2011 /CNW/ -
Inca Pacific Resources Inc. ("Inca Pacific") and Compañía Minera
Milpo S.A.A. (BVL: MILPOC1) ("MILPO") jointly announce the
completion of the acquisition by MILPO of all of the issued and
outstanding common shares of Inca Pacific, effective today, by way
of a statutory arrangement under the provisions of the Business
Corporations Act (British Columbia). Shareholders of Inca Pacific
will receive C$0.61 in cash for each common share (each, a "Share")
of Inca Pacific held and holders of options to acquire Shares
(each, an "Option") will receive a cash payment in respect of each
Option held equal to the excess, if any, of C$0.61 over the
applicable exercise price of such Option. Registered
shareholders and holders of Options should follow the instructions
in Inca Pacific's management information circular dated September
22, 2011 in order to obtain the cash consideration in respect of
their Shares and Options. The Shares were halted from trading on
the TSX Venture Exchange on October 26, 2011 and will be
voluntarily delisted from the TSX Venture Exchange and the Lima
Stock Exchange in the near future. Inca Pacific will also apply to
terminate its status as a reporting issuer in certain provinces of
Canada and as a public company in Peru. About MILPO MILPO is a
Peruvian mining company headquartered in Lima and listed on the
Lima Stock Exchange. The company was founded in 1949 and is
controlled by Votorantim Metais Ltda. MILPO is engaged in the
exploration, development, and mining of zinc, copper, lead, silver
and gold. It operates four mines in Peru: the El Porvenir and
the Atacocha mines, located in Pasco; the Chapi mine, located in
Moquegua, and the Cerro Lindo mine, located in Ica. In
addition, MILPO operates the Ivan mine and refinery, located in
Antofagasta, Chile. Also, MILPO has a strong pipeline of
exploration projects at different development stages and is working
to expand its operational footprint. CAUTIONARY NOTE REGARDING
FORWARD-LOOKING INFORMATION Certain information contained in this
news release, including any information relating to the
transaction, Inca Pacific, may be deemed "forward-looking". All
statements in this news release, other than statements of
historical fact, that address events or developments that Inca
Pacific expects to occur, are considered "forward-looking
information". These statements relate to future events
and reflect Inca Pacific's current internal projections,
expectations or beliefs and are based on information currently
available to Inca Pacific. In some cases forward-looking
information can be identified by terminology such as "may", "will",
"should", "expect", "intend", "plan", "anticipate", "believe",
"estimate", "projects", "potential", or the negative of those terms
or other comparable terminology. Although Inca Pacific
believes that the forward-looking information contained in this
news release is based on reasonable assumptions, readers cannot be
assured that actual results will be consistent with such
statements. Accordingly, readers are cautioned against
placing undue reliance on forward-looking information. Inca
Pacific expressly disclaims any intention or obligation to update
or revise any forward-looking information, whether as a result of
new information, events or otherwise, except in accordance with
applicable securities laws. This news release and the
information contained herein does not constitute an offer of
securities for sale in the United States and securities may not be
offered or sold in the United States absent registration or
exemption from registration. Neither the TSX Venture Exchange
nor the Investment Industry Regulatory Organization of Canada
accepts responsibility for the adequacy or accuracy of this
release. Inca Pacific Resources Inc. CONTACT: regarding MILPO
contact Francisco Ismodes Mezzano, (51-1)710-5517
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