OrvanaeExtends its offer to acquire Kinbauri Gold Corp. to July 24, 2009
Monday, Jul 13, 2009
Orvana Minerals Corp. today announced that it has extended its all-cash offer of C$0.55 per share for all outstanding common shares of Kinbauri Gold Corp. The bid is now set to expire at 11:59 p.m. (Vancouver time) on July 24, 2009. All other terms of the offer described in the take-over circular dated May 25, 2009 remain unchanged.
Orvana will mail to Kinbauri's security holders and file on SEDAR a Notice of Extension of the offer. Kinbauri shareholders who have questions regarding the offer should contact Kingsdale Shareholder Services Inc., the information agent in connection with the offer, at 1-800-749-9052 (toll-free) or 416 867 2272 (outside North America).
Orvana is a well-established mine operator with an experienced management team that has collectively brought a number of underground mines into production. Orvana had cash of approximately US $96.2 million (C$110.6 million) as at March 31, 2009, which is sufficient to complete the acquisition of Kinbauri and develop Kinbauri's Spanish mineral project. Orvana expects the project will create up to 200 new jobs in Spain.
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