Kinbauri Provides Update on Strategic Alternatives
08 August 2009 - 1:33AM
Marketwired
The board of directors of Kinbauri Gold Corp. ("Kinbauri") (TSX
VENTURE: KNB)(FRANKFURT: 3KG.DE) advises that it is continuing to
conduct a value maximization process that is designed to facilitate
the proposal of superior alternatives from qualified third parties
to the unsolicited offer (the "Offer") made by Orvana Minerals
Corporation ("Orvana") and has recently entered into preliminary
discussions with third parties as part of this process.
On August 3rd Orvana announced that it has extended its all-cash
offer until August 17th.
As Kinbauri continues to conduct its value maximization process,
Kinbauri's board remains unable to make a recommendation to
shareholders at this time with respect to the Offer. The directors
and officers of Kinbauri advise that they have not tendered their
shares to the Offer.
For 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.
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. Vern Rampton President &
CEO 613-836-2594 vrampton@kinbauri-gold.com Kinbauri Gold Corp.
Darrell Munro, BB.A, LL.B Manager, Corporate Communications
613-836-0198 dmunro@kinbauri-gold.com Europe INVESTEL Ruediger
(Rudy) Hnyk, CEO Investor Relations & Telecommunications
ceo@investel.de www.kinbauri-gold.com
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