Coronado announces update on acquisition of Opunake Hydro Limited
Tuesday, Jun 18, 2013VANCOUVER, June 14, 2013 /CNW/ - Coronado Resources Ltd. (TSX-V: CRD) and (OTCQX: CRDAF) ("Coronado") is pleased to provide an update on Coronado's proposed change of business acquisition of all of the outstanding common shares of Opunake Hydro Limited from TAG Oil Ltd. and Opunake Hydro Holdings Limited in exchange for common shares of Coronado (the "OHL Acquisition"), which was announced on May 14, 2013. As the OHL Acquisition is subject to the approval of the shareholders of Coronado, Coronado is currently preparing the notice of
meeting and management information circular that will call the shareholders' meeting and describe the OHL Acquisition as well as the requisite materials to receive the approval of the TSX Venture Exchange. Also, Coronado is in the process of applying for the requisite regulatory approval in New Zealand.Coronado expects that the OHL Acquisition will be completed during the third calendar quarter of 2013.
Completion of the OHL Acquisition is subject to a number of conditions,
including Exchange acceptance and disinterested Shareholder approval. The OHL Acquisition cannot close until the required shareholder approval is obtained.There can be no assurance that the OHL Acquisition will be completed as proposed or at all.
The TSX-V has in no way passed upon the merits of the proposed OHL Acquisition and has neither approved nor disapproved the contents of this press release.
Neither TSX-V nor its Regulation Services Provider (as that term is defined in the policies of the TSX-V) accepts responsibility for the adequacy or accuracy of this release.
Source: Coronado Resources Ltd.