TORONTO, July 12, 2018 /CNW/ - Anaconda Mining Inc.
("Anaconda" or the "Company") – (TSX:ANX)(OTCQX:
ANXGF) announces today the withdrawal of its previously announced
premium take-over bid (the "Offer") to acquire all the
issued and outstanding shares of Maritime Resources Corp.
(TSX-V:MAE) ("Maritime"). Anaconda will not take up any of
the Maritime shares tendered in connection with the
Offer.
"With the recently completed private placement, Maritime
shareholders made it clear that they stood with management and
wanted to pursue a stand-alone strategy to advance the Hammerdown
Project. Anaconda continues to believe that its Offer was
compelling and provided shareholders immediate appreciation in
their Maritime shares. In addition, over the long term, Anaconda
could have created more value for Maritime shareholders through the
combination of the two companies' assets than what Maritime could
have done on its own. Now that Maritime is behind us, we will focus
on other opportunities we have in Atlantic Canada to grow our business."
~ Dustin Angelo, President and
CEO, Anaconda Mining Inc.
NOTICE TO MARITIME SHAREHOLDERS IN THE UNITED STATES
The Offer was made for the securities of a foreign company. The
Offer was subject to disclosure requirements of a foreign country
that are different from those of the
United States. Financial statements included in, or
incorporated by reference into, the Offer to Purchase and Circular
of Anaconda to Maritime shareholders filed on SEDAR at
www.sedar.com on April 13, 2018, if
any, were prepared in accordance with foreign accounting standards
that may not be comparable to the financial statements of
United States companies.
It may be difficult for you to enforce your rights and any claim
you may have arising under the federal securities laws, since
Anaconda is located in a foreign country, and some or all of its
officers and directors may be residents of a foreign country. You
may not be able to sue a foreign company or its officers or
directors in a foreign court for violations of the U.S. securities
laws. It may be difficult to compel a foreign company and its
affiliates to subject themselves to a U.S. court's judgment.
You should be aware that Anaconda may purchase securities of
Maritime at their discretion in open market or privately negotiated
purchases.
ABOUT ANACONDA MINING INC.
Anaconda is a TSX-listed gold mining, development, and
exploration company, focused in the prospective Atlantic Canadian
jurisdictions of Newfoundland and
Nova Scotia. The Company operates
the Point Rousse Project located in the Baie Verte Mining District
in Newfoundland, comprised of the
Stog'er Tight Mine, the Pine Cove open pit mine, the Argyle Mineral
Resource, the fully-permitted Pine Cove Mill and tailings facility,
deep water port, and approximately 5,800 hectares of prospective
gold-bearing property. Anaconda is also developing the Goldboro
Project in Nova Scotia, a
high-grade Mineral Resource, with the potential to leverage
existing infrastructure at the Company's Point Rousse Project.
The Company also has a pipeline of organic growth opportunities,
including the Great Northern Project on the Northern Peninsula of
Newfoundland and the Tilt Cove
Property on the Baie Verte
Peninsula, also in Newfoundland.
FORWARD-LOOKING INFORMATION
This news release contains "forward-looking information"
within the meaning of applicable Canadian and United States securities legislation.
Generally, forward-looking information can be identified by the use
of forward-looking terminology such as "plans", "expects", or "does
not expect", "is expected", "budget", "scheduled", "estimates",
"forecasts", "intends", "anticipates", or "does not anticipate", or
"believes" or variations of such words and phrases or state that
certain actions, events or results "may", "could", "would",
"might", or "will be taken", "occur", or "be achieved".
Forward-looking information is based on the opinions and estimates
of management at the date the information is made, and is based on
a number of assumptions and is subject to known and unknown risks,
uncertainties and other factors that may cause the actual results,
level of activity, performance or achievements of Anaconda to be
materially different from those expressed or implied by such
forward-looking information, including risks associated with the
exploration, development and mining such as economic factors as
they effect exploration, future commodity prices, changes in
foreign exchange and interest rates, actual results of current
production, development and exploration activities, government
regulation, political or economic developments, environmental
risks, permitting timelines, capital expenditures, operating or
technical difficulties in connection with development activities,
employee relations, the speculative nature of gold exploration and
development, including the risks of diminishing quantities of
grades of resources, contests over title to properties, and changes
in project parameters as plans continue to be refined as well as
those risk factors discussed in the annual information form for the
fiscal year ended December 31, 2017,
available on www.sedar.com. Although Anaconda has
attempted to identify important factors that could cause actual
results to differ materially from those contained in
forward-looking information, there may be other factors that cause
results not to be as anticipated, estimated or intended. There can
be no assurance that such information will prove to be accurate, as
actual results and future events could differ materially from those
anticipated in such information. Accordingly, readers should not
place undue reliance on forward-looking information. Anaconda does
not undertake to update any forward-looking information, except in
accordance with applicable securities laws.
SOURCE Anaconda Mining Inc.