PACHAMAMA ANNOUNCES RESULTS OF SHAREHOLDER MEETING
VANCOUVER, British Columbia ? Pachamama Resources Ltd. (TSX-V ? PMA)
May 8, 2012
Pachamama Resources Ltd. (the ?Company?) is pleased to announce the results of the special meeting of shareholders (the ?Meeting?) of the Company held earlier today. By a vote conducted by ballot, the special resolution approving a plan of arrangement (the ?Arrangement?) between the Company and Regulus Resources Inc. (?Regulus?) under the Business Corporations Act (British Columbia) was approved by a majority of 99.98% of votes cast on the resolution in person or by proxy.
The Company expects to obtain final court approval of the Arrangement on Friday, May 11, 2012. The Company expects to complete the Arrangement on or about May 16, 2012.
Full details on the Arrangement are set out in the management information circular (the ?Circular?) that was delivered to the Company?s shareholders in advance of the Meeting, which is available on SEDAR at www.sedar.com.
Shareholders of the Company who hold their shares in registered form must complete and return the letter of transmittal (the ?Letter of Transmittal?) in order to obtain Regulus shares following the closing of the Arrangement. Copies of the Letter of Transmittal were distributed to shareholders with the Circular and are available on SEDAR at www.sedar.com or from the Company?s transfer agent, Valiant Trust Company.
For further information, please contact:
Megan Cameron-Jones at (604) 681-4462
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
Caution Regarding Forward-Looking Statements
This news release contains certain forward-looking statements, including statements regarding the Arrangement being undertaken by the Company and the expected completion date of the Arrangement. These statements are subject to a number of risks and uncertainties, including risks relating to general economic conditions and conditions affecting junior mining companies in particular. The forward-looking statements contained herein are based on assumptions that management believes are reasonable, including assumptions regarding receipt of necessary approvals for completion of the Arrangement. Readers should not place undue reliance on forward-looking statements. Except to the extent required by law, the Company undertakes no obligation to update forward-looking statements.
Pachamama, who serves as Pachamama's qualified person (QP) under the definitions of National Instrument 43-101.
Forward-Looking Information
Certain statements regarding Regulus and Pachamama, including management's assessment of future plans and operations, may constitute forward-looking statements under applicable securities laws and necessarily involve known and unknown risks and uncertainties, most of which are beyond Pachamama's control. Often, but not always, forward-looking statements or information can be identified by the use of words such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate" or "believes" or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved.
Specifically, and without limitation, all statements included in this press release that address activities, events or developments that Pachamama expects or anticipates will or may occur in the future, including the proposed merger referred to herein may constitute forward-looking statements under applicable securities laws and necessarily involve known and unknown risks and uncertainties, most of which are beyond Pachamama's control. These risks may cause actual financial and operating results, performance, levels of activity and achievements to differ materially from those expressed in, or implied by, such forward-looking statements. Although Pachamama believes that the expectations represented in such forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct
Pachamama does not undertake any obligation to publicly update or revise any forward-looking statements other than required by applicable securities law.