Heatherdale Resources Ltd.

Published : October 05th, 2011

(TSX-V: HTR): Heatherdale and Niblack Agree to Terms for Friendly Acquisition

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Keywords :   Georgia | K Street |

October 5, 2011, Vancouver, BC � Heatherdale Resources Ltd. (�Heatherdale�) (TSXV: HTR) and Niblack Mineral Development Inc. (�Niblack�) (TSXV: NIB) jointly announce that Heatherdale intends to acquire all of the outstanding shares of Niblack.

 

On August 23, 2011, Heatherdale, Niblack and certain of their respective subsidiaries entered into a non-binding letter agreement pursuant to which they agreed to carry out due diligence reviews on each other with a view to concluding a transaction by which Heatherdale would acquire all Niblack common shares in exchange for Heatherdale common shares, and agreed to deal exclusively with each other with respect to the transaction until October 23, 2011.

 

The parties have completed their due diligence reviews and have agreed in principle that, subject to the board, shareholder and court approvals described below, Heatherdale will acquire all of the common shares of Niblack in exchange for Heatherdale shares, on the basis of 0.50 Heatherdale shares per Niblack common share.  Based on the current number of outstanding shares in Niblack, Heatherdale anticipates issuing approximately 18 million shares to complete the transaction.  Options and warrants that are converted to Niblack shares before closing will be entitled to participate in the transaction.  Each unexercised warrant of Niblack will be amended so that it will entitle the holder thereof to purchase a number of Heatherdale shares equal to 50% of the number of Niblack shares subject to such warrant, at an exercise price of $1.20 in the case of warrants that have a current exercise price of $0.45 and $1.73 in the case of warrants that have current exercise price of $0.65.  All unexercised options will be cancelled for $0.01 per option.

 

Heatherdale and Niblack expect to effect the transaction by means of an arrangement under the Alberta Business Corporations Act.  The transaction is subject to negotiation of a definitive arrangement agreement, receipt of a favourable fairness opinion by the Niblack board, approval by Heatherdale�s board of directors, and 66-2/3% of votes cast by Niblack�s shareholders and its optionholders and warrantholders, as well as approval of the arrangement by the Alberta Court of Queen�s Bench.�
 
To view this news release in its entirety please click on the link below or copy and paste it into your web browser
http://www.heatherdaleresources.com/HDR/NewsReleases.asp?ReportID=483499

 

For further information, contact Sean Thompson, Investor Relations � 778-373-6727, toll free 1-800-667-2114.

 

Best Regards,
Investor Services

 

HDI
15th Floor 1040 West Georgia Street, Vancouver BC V6E 4H8
Toll Free 1-800-667-2114 | Main 1-604-684-6365
info@hdimining.com | www.hdimining.com


 

If you no longer wish to be on Heatherdale�s email distribution list, simply reply to this email with �� in the subject line.

 

To be removed from all of HDI�s email lists please reply to this email withRemove All in the subject line. 

 

HDI is associated with the following companies: Heatherdale Resources Ltd., Curis Resources Ltd., Northcliff Resources Ltd., Rathdowney Resources Ltd., Anooraq Resources Corporation, Northern Dynasty Minerals Ltd., and Amarc Resources Ltd.

Visit us at www.hdimining.com for more information. 

 



�Notice Regarding Transmission

This message is intended only for the person(s) to whom it is addressed and may contain information that is privileged and confidential. If you are not the intended recipient, you are hereby notified that any dissemination or copying of this communication is prohibited. Please notify us of the error in communication by telephone (604-684-6365) or by return e-mail and destroy all copies of this communication. Please note that any views or opinions presented in this email are solely those of the author and do not necessarily represent those of Hunter Dickinson Inc. or any affiliated or associated company. The recipient should check this email and any attachments for the presence of viruses. Neither Hunter Dickinson Inc. nor any affiliated or associated company accepts any liability for any damage caused by any virus transmitted by this email.. Thank you.�
Data and Statistics for these countries : Georgia | All
Gold and Silver Prices for these countries : Georgia | All

Heatherdale Resources Ltd.

DEVELOPMENT STAGE
CODE : HTR.V
ISIN : CA42245Q1090
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Heatherdale is a zinc and lead exploration company based in Canada.

Heatherdale develops zinc, lead, copper, gold and silver in USA.

Its main asset in development is NIBLACK COPPER CO. in USA and its main exploration property is DELTA in USA.

Heatherdale is listed in Canada. Its market capitalisation is CA$ 175.2 millions as of today (US$ 140.2 millions, € 116.4 millions).

Its stock quote reached its highest recent level on March 12, 2010 at CA$ 1.94, and its lowest recent point on February 05, 2016 at CA$ 0.01.

Heatherdale has 180 600 000 shares outstanding.

Your feedback is appreciated, please leave a comment or rate this article.
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Project news of Heatherdale Resources Ltd.
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3/16/2011(TSXV: HTR): “Larger Niblack mine estimates released” audio ...
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Corporate news of Heatherdale Resources Ltd.
6/10/2016Heatherdale Corporate Update
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1/16/2015Heatherdale Files 2014 Year End Materials
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6/19/2014(TSX-V: HTR): Alaska Governor Signs Bill for AIDEA Financing...
6/18/2014Alaska Governor signs bill for Aidea financing of Heatherdal...
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4/23/2014closes $1.1 million non-brokered financing
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4/7/2014announces $1 million non-brokered financing
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10/10/2013/R E P E A T -- Heatherdale Signs MOU with Alaska Industrial...
10/1/2012signs Memorandum of Understanding on preffered infrastructur...
9/14/2012Announces Increase in Exercise Price of Options
1/17/2012(TSX-V: HTR): Heatherdale-Niblack Plan Of Arrangement Appro...
10/26/2011(TSX-V: HTR) and Niblack Enter Into Definitive Arrangement A...
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7/28/2011(TSX-V: HTR) Drilling Continues to Intersect & Expand Minera...
6/15/2011CLOSES $9.3 MILLION FINANCING
5/9/2011COMPLETES ACQUISITION OF HUNTER DICKINSON ACQUISITIONS INC.
3/30/2011ANNOUNCES GRANT OF OPTIONS
12/1/2010CLOSES $7.9 MILLION FINANCING
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TSX-V (HTR.V)
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