Callinan Announces Effective Date of Arrangement and Proposed Listing Date of Callinex
July 06 2011 - 3:06PM
PR Newswire (Canada)
VANCOUVER, July 6, 2011 /CNW/ -- VANCOUVER, July 6, 2011 /CNW/ -
Callinan Mines Limited ("Callinan" (TSX.V: CAA), is pleased to
announce it has set July 13, 2011 as the effective and record date
(the "Record Date") for its previously announced plan of
arrangement (the "Arrangement") with Callinex Mines Inc.
("Callinex"). The Record Date allows for a three day standard
settlement of accounts from a Friday, July 8, 2011 trade
date. A shareholder who holds a share of Callinan acquired on
or before the close of market on Friday, July 8, 2011 will be
eligible to participate in the Plan of Arrangement. Pursuant
to the Arrangement, Callinan's name will be changed to "Callinan
Royalties Corporation" and its shares will continue to trade under
the symbol "CAA". The Arrangement will involve, among other
things, the distribution of common shares of Callinex (the
"Callinex Shares") to shareholders of Callinan as at the Record
Date such that each Callinan shareholder will hold: (i) one common
share of Callinan Royalties Corporation for each common share of
Callinan held on the Record Date; and (ii) one Callinex Share for
every 4.5 common shares of Callinan held on the Record Date. The
Callinex Shares are expected to begin trading at the opening of
market on Thursday, July 14, 2011 under the symbol "CNX". On Behalf
of the Board of Directors, Mike Muzylowski Mike Muzylowski
President and CEO Cautionary Statement on Forward-Looking
Information Neither the 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. Certain of, the information presented in
this News Release constitutes "forward-looking statements" or
"forward-looking information" within the meaning of Canadian
securities legislation (together referred to as "forward-looking
statements"). These statements relate to the expected date of
completion of the Arrangement. Such statements are based upon
certain assumptions made by Callinan with respect to the expected
timeline for receipt of outstanding approvals. The forward-looking
statements are subject to risks, uncertainties and other factors
that may cause actual results to be materially different from those
expressed or implied by such forward-looking statements, including
any delays in the receipt of consents or approvals. Although
Callinan has attempted to identify important factors that could
cause actual actions, events or results to differ materially from
those described in forward-looking statements, there may be other
factors that cause actions, events or results not to be as
anticipated, estimated or intended. There can be no assurance that
such statements will prove to be accurate as actual results and
future events could differ materially from those anticipated in
such statements. Accordingly, readers should not place undue
reliance on forward-looking statements contained in this News
Release and in any document referred to in this News Release.
Forward-looking statements are made based on management's beliefs,
estimates and opinions on the date the statements are made and
Callinan undertakes no obligation to update forward-looking
statements if these beliefs, estimates and opinions or other
circumstances should change, except as required by applicable law.
To view this news release in HTML formatting, please use the
following URL:
http://www.newswire.ca/en/releases/archive/July2011/06/c3741.html p
Braden Maccke, 736 Granville Street, Suite 110, Vancouver, BC, V6Z
1G3, Telephone: (604) 605-0885, Toll-Free: 1-877-228-5210, Fax:
(604) 605-0886, Email: a
href="mailto:info@callinan.com"info@callinan.com/a, Website: a
href="http://www.callinan.com"www.callinan.com/a /p
Copyright