=======================================================================
Re: News Releases - Wednesday, November 27, 2013
OceanaGold and Pacific Rim Mining Complete Plan of Arrangement
=======================================================================
NR #13-12
November 27, 2013
OCEANAGOLD AND PACIFIC RIM MINING COMPLETE PLAN OF ARRANGEMENT
(MELBOURNE) OceanaGold Corporation ("OceanaGold") (ASX: OGC, TSX: OGC,
NZX: OGC) and (VANCOUVER) Pacific Rim Mining Corp. ("Pacific Rim")
(TSX: PMU, OTCQX: PFRMF) are pleased to announce the successful
completion of the plan of arrangement (the "Arrangement") originally
announced on October 8, 2013. The Arrangement was overwhelmingly
approved by the shareholders of Pacific Rim at its special meeting on
November 21, 2013 and received approval from the Supreme Court of
British Columbia on November 22, 2013.
Pursuant to the Arrangement each Pacific Rim common share has been
exchanged for 0.04006 common shares of OceanaGold. Pacific Rim will
continue as a wholly-owned subsidiary of OceanaGold and its common
shares will be delisted from the Toronto Stock Exchange and the OTCQX
as soon as practicable.
Mick Wilkes, Managing Director & CEO of OceanaGold commented, "I am
very pleased to welcome Pacific Rim shareholders and employees to
OceanaGold. I believe that our company strengths developed over the
past twenty-three years in New Zealand and the Philippines provides for
a strong platform to begin the successful journey with the many
stakeholder groups in El Salvador. Our Company has a long and
successful track record of operating gold mines in partnership with
local communities in a safe and sustainable manner and we look forward
to working with our key stakeholders in El Salvador to unlock the
significant opportunity that exists at El Dorado for the people of El
Salvador."
"On behalf of the entire Pacific Rim team, I would like to take this
opportunity to thank Pacific Rim shareholders for their tremendous
support through the years, and for their near unanimous approval of the
OceanaGold merger," adds Tom Shrake, President and CEO of Pacific Rim.
"OceanaGold shares our vision of environmentally and socially
responsible mining, and with its solid asset base, diversified growth
profile and financial strength, has the ability to provide for a
brilliant future. Most importantly, OcenanGold shares our high regard
for the hard working people of El Salvador and is committed to working
hand-in-hand with the government and citizens of El Salvador to help
build an economy without sacrificing the ecosystems or the rich culture
that defines El Salvador."
Pacific Rim's El Dorado Project adds an established high grade
gold-silver resource to OceanaGold's portfolio. Along with El Dorado,
Pacific Rim's stable of exciting exploration targets in El Salvador
provides OceanaGold with a first-mover advantage into an underexplored
but geologically highly prospective region.
Pursuant to Rule 12(g)(3) under the United States Securities Exchange
Act of 1934, as amended (the "Exchange Act"), OceanaGold has succeeded
to the Section 12 registration, and Section 13(a) reporting obligations
under the Exchange Act, of Pacific Rim. However, OceanaGold intends to
file a Form 15F, as soon as practicable on or about December 2, 2013,
with the United States Securities and Exchange Commission ("SEC") to
voluntarily terminate the registration of the Pacific Rim common shares
under Section 12(g) as well as Pacific Rim's reporting obligations
under Section 13(a) of the Exchange Act. Pursuant to Rule 12(h)-(6)
under the Exchange Act, the SEC permits a foreign private issuer to
terminate the registration of a class of securities under Section 12(g)
of the Exchange Act if it meets certain requirements. Upon the filing
of the Form 15F, OceanaGold's reporting obligations under the Exchange
Act will be suspended immediately and will terminate no more than 90
days after the filing, barring any objections from the SEC.
On behalf of the Board of OceanaGold Corporation
Michael F. Wilkes
Managing Director and CEO
On behalf of the Board of Pacific Rim Mining Corp.
Thomas C. Shrake
President and CEO
Contact Information
OceanaGold Corporation:
Investor Relations -- Melbourne
Nova Young
Tel: +61(3) 9656 5300
Investor Relations -- Toronto
Sam Pazuki
Tel: +1 416 915 3123
Pacific Rim Mining Corp.:
Barbara Henderson
Tel: +1 604 689 1976
general@pacrim-mining.com
About OceanaGold Corporation
OceanaGold Corporation is a significant multinational gold producer
with mines located on the South Island of New Zealand and in the
Philippines. OceanaGold's assets encompass New Zealand's largest gold
mining operation at the Macraes goldfield in Otago which is made up of
the Macraes Open Pit and the Frasers Underground mines. Additionally,
on the west coast of the South Island, OceanaGold operates the Reefton
Open Pit mine. OceanaGold's Didipio Mine in northern Luzon, Philippines
commenced commercial production on April 1, 2013 and is expected to
produce 100,000 ounces of gold and 14,000 tonnes of copper per year on
average over an estimated 16 year mine life. OceanaGold expects to
produce 285,000 to 325,000 ounces of gold in 2013 from the New Zealand
and Philippine operations combined and 18,000 to 20,000 tonnes of
copper in 2013 from the Philippine operations. OceanaGold is listed on
the Toronto, Australian and New Zealand stock exchanges under the
symbol OGC.
Cautionary Statement
Certain information contained in this media release, including any
information relating to the Arrangement and OceanaGold's or Pacific
Rim's future financial or operating performance may be deemed
"forward-looking". These statements relate to future events or future
performance and reflect OceanaGold's expectations regarding the
Arrangement, and the future growth, results of operations, business
prospects and opportunities of OceanaGold. These forward-looking
statements also reflect OceanaGold's current internal projections,
expectations or beliefs and are based on information currently
available to it. In some cases forward-looking information can be
identified by terminology such as "may", "will", "should", "expect",
"intend", "plan", "anticipate", "believe", "estimate", "projects",
"potential", "scheduled", "forecast", "budget" or the negative of those
terms or other comparable terminology. Forward-looking statements in
this news release include, but are not limited to: statements relating
to the exchange of shares; the delisting of Pacific Rim common shares;
and the development of the El Dorado Project. Assumptions upon which
such forward-looking information is based include: that actual results
or exploration activities will be as expected; that the current price
of and demand for gold will be sustained or will improve; that general
business and economic conditions will not change in a material adverse
manner; that the arbitration claim related to the El Dorado project
will be successful; and that OceanaGold will be able to advance the El
Dorado Project. Such forward-looking information is subject to certain
risks and uncertainties that could cause results to differ materially
from those expressed in the forward-looking statements. Some of these
risks and uncertainties include: the failure to realize the anticipated
benefits of the Arrangement; general economic and market factors
(including changes in global, national or regional financial, credit,
currency or securities markets); changes in the economic parameters of
the El Dorado Project since the completion of the pre-feasibility study
and NI43-101 technical report; changes or developments in global,
national or regional political conditions (including any act of
terrorism or war), changes in laws (including tax laws) and changes in
GAAP or regulatory accounting requirements; fluctuations in the price
of gold; that the arbitration claim related to the El Dorado project
may not be successful; mine life and anticipated rates of gold and
copper production from OceanaGold's New Zealand and Philippines
operations not materializing as expected; and other risk factors as
outlined in OceanaGold's most recent annual filings and those of its
predecessor company Pacific Rim Mining Corp. Readers are cautioned that
the foregoing list of factors is not exhaustive. Although OceanaGold
believes that the forward-looking information contained in this news
release is based on reasonable assumptions, readers cannot be assured
that actual outcomes or results will be consistent with such
statements. Accordingly, readers are cautioned against placing undue
reliance on forward-looking information. OceanaGold expressly disclaims
any intention or obligation to update or revise any forward-looking
information, whether as a result of new information, events or
otherwise, except as required by applicable securities laws.
=======================================================================
Copyright (c) 2013 PACIFIC RIM MINING CORP. (PMU) All rights reserved.
For more information visit our website at
http://www.pacrim-mining.com/ or send mailto:general@pacrim-mining.com
Message sent on Wed Nov 27, 2013 at 10:08:18 AM Pacific Time
=======================================================================
.
|
VanEck Vectors Global Alternative Energy ETF
|
|
PRODUCTEUR |
CODE : PMU.TO |
|
CUSIP : 694915208 |
| |
ProfilIndicateurs de MarchéVALEUR : Projets & res.Communiqués de PresseRapport annuelRISQUE : Profile actifsContactez la cie |
Pacific Rim Mining est une société développant des projet miniers d'or et d'argent basée au Canada. Pacific Rim Mining détient divers projets d'exploration au Salvador. Ses principaux projets en production sont DENTON RAWHIDE et DENTON-RAWHIDE en USA et ses principaux projets en exploration sont SANTA RITA, ZAMORA AND CERRO COLORADO, EL DORADO PROJECT - BALSAMO, EL DORADO EL SALVADOR, EL DORADO PROJECT - SOUTH MINITA, EL DORADO PROJECT - MINITA, EL DORADO PROJECT - NANCE DULCE, EL DORADO PROJECT - COYOTERA et EL DORADO PROJECT - NUEVA ESPERANZA au Salvador. Pacific Rim Mining est cotée au Canada, aux Etats-Unis D'Amerique et en Allemagne. Sa capitalisation boursière aujourd'hui est 3,3 millions (3,1 millions US$, 2,3 millions €). La valeur de son action a atteint son plus haut niveau récent le 31 décembre 2003 à 2,39 , et son plus bas niveau récent le 11 octobre 2013 à 0,04 . Pacific Rim Mining possède 47 442 200 actions en circulation. |