Animas Responds to Marlin News and Sets Date for Special Meeting
December 09 2013 - 8:09PM
Marketwired
Animas Responds to Marlin News and Sets Date for Special Meeting
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Dec 9, 2013) -
Animas Resources Ltd. (TSX-VENTURE:ANI) is responding to the
announcement this morning by Marlin Gold Mining Ltd. ("Marlin")
that it intends to make an offer to acquire all of the outstanding
common shares of Animas at $0.10 per share. It should be noted that
Marlin's press release does not constitute a formal offer and until
such time as a takeover bid circular is prepared and mailed to
shareholders, there is no offer.
Animas' Board of Directors will review and carefully consider
any offer received from Marlin and intends to engage a financial
advisor to assist it in this process. Upon receipt of an offer,
Animas' board will make a recommendation to its shareholders in
connection with the offer as required by securities legislation. It
is noted that the proposed terms of the offer from Marlin do not
include any NSR or payment in lieu of an NSR. The agreement with
GoGold Resources Inc. ("GoGold") includes a 3% NSR royalty, which
is an important and valuable component of the transaction with
GoGold.
The news release from Marlin contains at least one factual
misstatement. Animas did, in fact, discuss the transaction and
their bid for the Santa Gertrudis Gold Project with Marlin on
several occasions, including asking Marlin to remove their
requirement for further due diligence as had GoGold prior to
signing the agreement with GoGold. Marlin did not alter their offer
and Animas' board elected to proceed with the offer from GoGold who
were ready to conclude the transaction in an expeditious manner by
exercising their right to match the Marlin bid.
Mark T. Brown, President & CEO, stated that "For some time
now our major shareholders have felt that Animas' shares have been
significantly undervalued and we began seeking a group to unlock
the value of the Santa Gertrudis Gold Project by putting the mine
back into production. After having several groups visit the
project, GoGold made the first offer and we began negotiating with
them and got a good understanding of their ability to put this mine
back into production. Understanding their production ability was a
key component to the transaction and Animas agreed to take back a
reasonably high 3% NSR royalty from future production. The major
shareholders of Animas have stated in the past that simply cashing
out of the Animas shares at a time when we were significantly
undervalued did not make sense."
The interests of the shareholders and management are closely
aligned considering that Animas management owns approximately 7% of
the Company. Animas' management and Board of Directors will
continue to work to get the very best value for the shareholders of
Animas.
In the meantime, Animas has scheduled to have a Special Meeting
on February 7, 2014 to seek shareholder approval of the transaction
with GoGold as announced on December 4, 2013.
This news release was prepared by Company management, who take
full responsibility for its content.
Mark T. Brown, B. Comm. CA, President & CEO
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
This press release contains "forward-looking information"
which may include, but is not limited to, statements with respect
to drilling plans, timing of our planned NI 43-101 resource report,
timing of assays, resource estimates, projections, our planned
exploration and drilling programs, the availability of future
financing for exploration and other plans, projections, estimates
and expectations. Such forward-looking statements reflect our
current views with respect to future events and are subject to
certain risks, uncertainties and assumptions, including, the risks
and uncertainties outlined in our most recent financial statements
and reports and registration statement filed with the Canadian
securities administrators (available at www.sedar.com). Should one
or more of these risks or uncertainties materialize, or should
underlying assumptions prove incorrect, actual results may vary
materially from those anticipated, believed, estimated or
expected.
Animas Resources Ltd.Mark BrownPresident &
CEO604-687-6197www.animasresources.com
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