TORONTO, July 29, 2015 /CNW/ - Anaconda Mining Inc.
("Anaconda" or the "Company") – (TSX: ANX) comments on the
press release of Plantro Venture Group Ltd. issued on
Wednesday July 29, 2015, which
announces its intention to commence an offer to acquire all of
the issued and outstanding common shares of Anaconda at a price of
CAD$0.035, which is below the recent
market price of the Company's common shares.
Dustin Angelo President and CEO
of Anaconda commented: "The Plantro proposed offer is stated to be
subject to due diligence and is significantly lower than our share
price. When a formal offer is received, the board of directors of
the Company will meet and carefully review and consider such offer.
Until such time, there is no formal offer to consider or respond
to. The board will provide shareholders with updates as necessary.
In the meantime, Shareholders are urged to take no actions in
connection with the offer."
ABOUT ANACONDA
Headquartered in Toronto,
Canada, Anaconda is a growth-oriented, gold mining and
exploration company with a producing project, called the Point
Rousse Project, and approximately 6,000 hectares of exploration
property on the Ming's Bight Peninsula located in the Baie Verte
Mining District in Newfoundland,
Canada. Since 2012, Anaconda has increased its property
control by nine-fold. It is currently exploring three primary,
prospective gold trends, which have approximately 20 kilometres of
cumulative strike length and include four deposits and numerous
prospects and showings, all within 8 kilometres of the Pine Cove
Mill. The Company's plan is to discover and develop more
resources within the project area and double annual production from
its current rate of approximately 15,000 ounces to 30,000
ounces.
FORWARD LOOKING STATEMENTS
This document contains or refers to forward-looking
information. Such forward-looking information includes, among other
things, statements regarding growth and is based on current
expectations and assumptions of management that involve a number of
business risks and uncertainties. Factors that could cause actual
results to differ materially from any forward-looking statements
include, but are not limited to: the expectations of the Company in
expanding mineral resources and project mine life and the timing
thereof, current and future market trends and growth opportunities
and whether the Company will be able to capitalize upon them.
Forward-looking statements may include words such as "plans,"
"may," "estimates," "expects," "indicates," "targeting,"
"potential" and similar expressions. These forward-looking
statements are based on current expectations and are subject to
significant risks and uncertainties, including the risks factors
outlined in the Company's latest annual information form and other
continuous disclosure documents filed at www.sedar.com, and other
factors that could cause actual results to differ materially from
expected results. Readers should not place undue reliance on
forward-looking statements. These forward-looking statements are
made as of the date hereof and the Company assumes no
responsibility to update them or revise them to reflect new events
or circumstances, except as required by law.
SOURCE Anaconda Mining Inc.