January 16, 2012 � Vancouver BC � Heatherdale Resources Ltd. (TSX-V: HTR) (�Heatherdale� or the �Company�) announced on October 26, 2011 that Heatherdale and Niblack Mineral Development Inc. (�Niblack�) had entered into an arrangement agreement (the �Arrangement Agreement�) providing for: (i) the acquisition by Heatherdale of all of the shares of Niblack in exchange for Heatherdale shares, on the basis of 0.50 Heatherdale shares per Niblack share; (ii) the amendment of all Niblack warrants such that each would entitle the holder thereof to purchase the number of Heatherdale shares equal to 50% of the number of Niblack shares subject to such warrant, at an exercise price of C$1.20 in the case of warrants with an existing exercise price of C$0.45 and C$1.73 in the case of warrants with an existing exercise price of C$0.65; and (iii) the cancellation of all unexercised Niblack options for consideration of C$0.01 per option (together, the �Arrangement�).
As announced on October 26, 2011, the Arrangement was made subject to customary closing conditions, including the approval of 66 2/3% of the votes cast by shareholders, optionholders and warrantholders of Niblack, each voting separately, and approval of the Arrangement by the Court of Queen�s Bench of Alberta.
On January 11, 2012, the Arrangement was approved by the aforementioned supermajorities of voting Niblack securityholders. In addition, on January 12, 2012, the Arrangement was approved by the Court of Queen�s Bench of Alberta.
Under the terms of the Arrangement, the Arrangement will only become effective on the second business day after all of the conditions to closing specified in the Arrangement Agreement are satisfied or waived or such other date as the parties may agree.
Heatherdale and Niblack are currently working to bring about the satisfaction of all remaining closing conditions.
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=502159
For further information, contact Sean Thompson, Investor Relations � 778-373-6727, toll free 1-800-667-2114.
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Investor Services
HDI
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HDI is associated with the following companies: Heatherdale Resources Ltd., Curis Resources Ltd., Northcliff Resources Ltd., Rathdowney Resources Ltd., Northern Dynasty Minerals Ltd., Amarc Resources Ltd., and Quartz Mountain Resources Ltd.
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Heatherdale Resources Ltd.
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DEVELOPMENT STAGE |
CODE : HTR.V |
ISIN : CA42245Q1090 |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
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. |