TVI Pacific Enters Loan
Arrangement with TG World Energy Corp.
TVI Pacific Inc.
(TSX:TVI) (OTCQX:TVIPF) ("TVI" or "the Company") announces
that it has entered into an unsecured loan arrangement (the "Loan")
with TG World Energy Corp. ("TG World") for US$500,000. The full
amount of the Loan will be advanced immediately to TG World and will be used to
fund obligations in the Philippines. The Loan carries an interest rate of 15%
and matures on March 14, 2011.
As previously
announced, TVI and TG World have entered into an Arrangement Agreement whereby
holders of TG World shares will receive 0.458 of a common share of TVI for each
TG World share held. The Arrangement is subject to approval of TG World
shareholders at a meeting to be held on March 4, 2011.
About TVI Pacific Inc.
(TSX:TVI) (OTCQX:TVIPF)
TVI Pacific Inc. is a
publicly-traded copper producer focused on the production, development,
exploration and acquisition of precious and base metal mining deposits in the
Philippines. The Company's interest in the Canatuan Mine and its other
Philippine assets are held through its affiliate, TVI Resource Development
(Phils.), Inc.
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The Toronto Stock
Exchange has neither approved nor disapproved of the information contained
herein.
IMPORTANT INFORMATION
REGARDING FORWARD-LOOKING STATEMENTS
Certain information
set out in this news release constitutes forward-looking information.
Forward-looking statements are often, but not always, identified by the use of
words such as "seek", "anticipate", "plan",
"continue", "estimate", "expect",
"may", "will", "intend", "could",
"might", "should", "believe",
"schedule" and similar expressions.
Forward-looking
statements are based upon the opinions and expectations of management of TVI as
at the effective date of such statements and, in some cases, information
supplied by third parties. Although TVI believes that the expectations
reflected in such forward-looking statements are based upon reasonable
assumptions and that information received from third parties is reliable, it
can give no assurance that those expectations will prove to have been correct.
Forward-looking statements are subject to certain risks and uncertainties that
could cause actual events or outcomes to differ materially from those
anticipated or implied by such forward-looking statements. These factors
include, but are not limited to, such things as completion risks in respect of
the proposed arrangement, changes in general economic conditions in Canada, the
United States and elsewhere, changes in operating conditions (including as a
result of weather patterns), the volatility of prices for oil, gas, base
metals, precious metals and other commodities, commodity supply and demand,
fluctuations in currency and interest rates, inherent risks associated with the
exploration, development and production of oil and gas (including mechanical
and environmental problems), inherent risks associated with the exploration,
development and production of base and precious minerals (including mechanical
and environmental problems), timing, results and costs of exploration and
development activities, availability of financial resources or third-party
financing, availability of equipment, materials, services and personnel,
defaults by counterparties, reliance upon operators in the case of non-operated
properties and projects, and new laws and regulations (domestic and foreign).
Accordingly, readers should not place undue reliance upon the forward-looking
statements contained in this news release and such forward-looking statements
should not be interpreted or regarded as guarantees of future outcomes.
Forward-looking
statements concerning the proposed acquisition of TG World by TVI are based
upon the terms of the January 16, 2010, Amended and Restated Arrangement
Agreement entered into between TG World and TVI and that all necessary
shareholder, court and regulatory approvals required in connection with the
proposed arrangement are obtained on terms satisfactory to TVI and TG World.
Forward-looking statements concerning share exchange ratios associated with the
proposed arrangement are based upon the terms of the January 16, 2010, Amended
and Restated Arrangement Agreement entered into between TG World and TVI
Pacific. Forward-looking statements regarding the use of Loan funds in the
Philippines by TG World are based on discussions carried out to date with the
operator of the Philippine joint venture, the current budget and plans of the
joint venture partners, and the current budget, exploration plans and overall
strategy of TG World in the Philippines (which are all subject to change).
The forward-looking
statements of the Company contained in this news release are expressly
qualified, in their entirety, by this cautionary statement. Subject to
applicable securities laws, the Company does not undertake any obligation to
publicly revise the forward-looking statements included in this news release to
reflect subsequent events or circumstances, except as required by law.
The Toronto Stock
Exchange has neither approved nor disapproved of the information contained
herein.
FOR FURTHER
INFORMATION PLEASE CONTACT:
TVI Pacific Inc.
Rhonda Bennetto
Exec. Dir. Investor Communications
403.265.4356
rhonda.bennetto@tvipacific.com
TVI
Pacific Inc.
Ian
McColl
Investor Relations Analyst
403.265.4356
ian.mccoll@tvipacific.com
www.tvipacific.com
Source: TVI Pacific Inc.