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Brilliant Mining Corp.

Publié le 20 avril 2015

Brilliant Announces Proposed Investment in Ram Power

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Brilliant Announces Proposed Investment in Ram Power

TORONTO, ONTARIO--(Marketwired - Apr 20, 2015) - Brilliant Resources Inc. (TSX VENTURE:BLT) (the "Company" or "Brilliant") is pleased to announce that, consistent with its plans announced on April 10, 2015 to become a Tier 1 investment company (the "Proposed COB") under the rules of the TSX Venture Exchange (the "TSXV"), it has conditionally agreed to invest CDN$10 million (the "Investment") as part of the US$60 million subscription receipt financing (the "Ram Power Financing") announced today by Ram Power, Corp. (RPG.TO) ("Ram Power"). Upon closing of the Ram Power Financing, Brilliant will acquire 2.5 billion subscription receipts of Ram Power at a purchase price of CDN$0.004 per subscription receipt, which will entitle Brilliant to receive upon exchange 1,250,000 post-consolidation common shares of Ram Power (at a deemed price of CDN$8 per share).

The Board of Brilliant believes that the Investment is in the best interest of the Company and its shareholders. As the Investment would constitute the first investment of the Company pursuant to the Proposed COB and could be completed in advance of the formal final approval of the Proposed COB, prior approval of the TSXV is required and in connection therewith the Company is also seeking the written consent to the Investment from persons holding a majority of its common shares.

The Ram Power Financing is part of a larger restructuring transaction also announced today by Ram Power (the "Restructuring").

Proceeds from the Ram Power Financing will be held in escrow pending satisfaction of certain release conditions (the "Escrow Release Conditions") related to the Restructuring, including completion of the conversion of outstanding debentures of Ram Power (the "Conversion"), the entering into of amendments to Ram Power's credit facilities, completion of a share consolidation, and the appointment of new directors and a new chief executive officer. Upon satisfaction of such conditions, the Company and the other Ram Power Financing subscribers will receive, for each subscription receipt held, one pre-consolidation common share in the capital of Ram Power. On closing of the Restructuring, Brilliant would hold approximately 8.1% of the issued and outstanding post-consolidation common shares of Ram Power.

The closing of the Ram Power Financing is conditional on the receipt by Ram Power of approval of the Toronto Stock Exchange (the "TSX") to list the common shares of Ram Power to be issued pursuant to the Ram Power Financing and the Conversion. There is no certainty that Ram Power will obtain TSX approval and therefore the Ram Power Financing may not close and in that case the Investment would not occur. There is also no certainty that the Escrow Release Conditions will be satisfied. In the event the Escrow Release Conditions are not satisfied, the Investment would be returned to Brilliant, with interest.

The Ram Power Financing is expected to close in escrow on or about April 30, 2015, and Ram Power has stated that the Restructuring is expected to be completed within the next several months. If the Company does not obtain TSXV approval for the Investment by noon on April 27, 2015, the Investment will not occur.

For further details regarding the Restructuring and the Ram Power Financing, please see the press release of Ram Power issued today, which can be found under Ram Power's profile at www.sedar.com. In addition, the subscription agreement executed by the Company in connection with the Investment has been filed today under the Company's profile at www.sedar.com.

As disclosed on April 10, 2015, on a consolidated basis, the Company has working capital of approximately CDN$46.4 million. Following the Company's announced proposed return of capital of CDN$0.145 per share (or approximately CDN$21.13 million in the aggregate) and the Investment, the Company would have working capital of approximately CDN$15 million.

Completion of the Proposed COB is subject to a number of conditions, including TSXV acceptance and disinterested shareholder approval. The Proposed COB cannot close until the required shareholder approval is obtained. There can be no assurance that the Proposed COB will be completed as proposed or at all.

Investors are cautioned that, except as disclosed in the Management Information Circular to be prepared in connection with the Proposed COB, any information released or received with respect to the Proposed COB may not be accurate or complete and should not be relied upon. Trading in the securities of Brilliant should be considered highly speculative.

The TSXV has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this press release.

NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

Caution concerning forward-looking information

This press release contains "forward-looking information" and "forward-looking statements" within the meaning of applicable securities laws, including statements regarding the possible approvals of the Investment. This information and statements address future activities, events, plans, developments and projections. All statements, other than statements of historical fact, constitute forward-looking statements or forward-looking information. Such forward-looking information and statements are frequently identified by words such as "may", "will", "should", "anticipate", "plan", "expect", "believe", "estimate", "intend" and similar terminology, and reflect assumptions, estimates, opinions and analysis made by management in light of its experience, current conditions, expectations of future developments and other factors which it believes to be reasonable and relevant. Forward-looking information and statements involve known and unknown risks and uncertainties that may cause actual results, performance and achievements to differ materially from those expressed or implied by the forward-looking information and statements and, accordingly, undue reliance should not be placed thereon. Risks and uncertainties that may cause actual results to vary include, but are not limited to, failure by the Company to obtain shareholder consent to, and regulatory approval of, the Investment; failure of Ram Power to obtain necessary approvals and consents to the Restructuring; failure to obtain regulatory approval of the Proposed COB; as well as other risks and uncertainties which are more fully described in our annual and quarterly Management's Discussion and Analysis and in other filings made by us with Canadian securities regulatory authorities and available at www.sedar.com. Brilliant disclaims any obligation to update or revise any forward-looking information or statements except as may be required by applicable law.

Lire la suite de l'article sur finance.yahoo.com

Brilliant Mining Corp.

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CODE : BLT.V
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Brilliant Mining est une société d’exploration minière de nickel basée au Canada.

Brilliant Mining détient divers projets d'exploration au Canada.

Son principal projet en exploration est MISCHIKAMAU au Canada.

Brilliant Mining est cotée au Canada. Sa capitalisation boursière aujourd'hui est 38,1 millions CA$ (30,9 millions US$, 27,7 millions €).

La valeur de son action a atteint son plus haut niveau récent le 16 janvier 2009 à 0,56 CA$, et son plus bas niveau récent le 19 avril 2013 à 0,03 CA$.

Brilliant Mining possède 149 450 000 actions en circulation.

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Rapports annuels de Brilliant Mining Corp.
2008 Annual Report
2007 Annual report
Financements de Brilliant Mining Corp.
18/04/2006Revises private placement terms
Projets de Brilliant Mining Corp.
08/10/2014Montana Exploration Corp. announces agreement to acquire Bri...
29/01/2009(Lanfranchi)Record Nickel Metal Production for December 2008 Quarter Lan...
14/01/2009(Lanfranchi)39% Increase of Deacon Indicated Mineral Resource to 157.4 M...
19/09/2008(Lanfranchi)Contained Nickel Reserves Increase to 146 million pounds and...
04/09/2008(Lanfranchi)450,000 Tonnes of Ore Approved for Delivery Lanfranchi Nicke...
01/08/2008(Kambalda)June Quarterly Production Update Lanfranchi Nickel Mine, Kam...
01/08/2008(Kambalda)Resource and Exploration Update Lanfranchi Nickel Mine, Kamb...
17/07/2008(Kambalda)Strong Production Growth Forecast - Lanfranchi Nickel Mine K...
23/04/2008(Lanfranchi)Record Quarterly Production – 49% Increase over December 200...
23/04/2008(Lanfranchi)7.0% Ni over 1.22m from First Hole on Northern Tramways Dome...
31/03/2008(Lanfranchi)Production Commences 18 Months After Discovery at High-Grade...
13/03/2008(Lanfranchi) Drill Program to Commence Lanfranchi Nickel Mine, Kambalda ...
31/01/2008(Lanfranchi)Record Quarterly Production?47% Increase over September Quar...
30/01/2008(Lanfranchi)Significant Conductor Identified on Northern Overturned Tram...
29/11/2007(Kambalda)5.4% Ni Delivered from Winner during First Month Production ...
30/10/2007(Kambalda)Winner Production Commenced Oct. 14?First Month Ore Deliveri...
29/10/2007(Lanfranchi)High Grade Massive Ni Sulphide Intersected on Overturned Nor...
04/10/2007Intersects Nickel Sulphide Mineralization at Michikamau Proj...
13/09/2007(Lanfranchi)High Grade Massive Ni Sulphide Zone Delineated, Lanfranchi O...
10/08/2007(Lanfranchi)Deacon Ore Reserve Economic Input Summary; Lanfranchi Nickel...
31/07/2007(Lanfranchi)June 2007 Quarterly Update
10/07/2007(Kambalda)Drilling Validates Tramways Dome Theory; 3.4% Ni over 1 Metr...
03/07/2007(Kambalda)Resource Delineation Drill Program Underway on Lanfranchi Ex...
25/06/2007(Mischikamau)Commences Exploration Program at Michikamau Ni-Cu-Co-PGE Pro...
29/05/2007(Kambalda)21,000 Tonnes (46.8 Million Lbs) Ni Metal Production Target ...
Communiqués de Presse de Brilliant Mining Corp.
20/04/2015Brilliant Announces Proposed Investment in Ram Power
15/04/2015Brilliant Announces Appointment of CFO and New Head Office
10/04/2015IIROC Trading Resumption - BLT
10/04/2015Announces Plans for A Return of Capital; Change of Business ...
10/04/2015Brilliant Announces Plans for A Return of Capital; Change of...
10/04/2015IIROC Trading Halt - BLT
09/04/2015Brilliant Receives Final Payment from Government of Equatori...
24/03/2015Brilliant Receives Third Payment from Government of Equatori...
26/02/2015IIROC Trading Resumption - BLT
26/02/2015IIROC Trading Halt - BLT
26/02/2015Brilliant Receives Second Payment from Government of Equator...
11/02/2015Brilliant Announces Cancellation of Shares
11/02/2015IIROC Trading Resumption - BLT
11/02/2015IIROC Trading Halt - BLT
11/02/2015Brilliant Provides Update on Payment From Government of Equa...
30/01/2015Brilliant Provides Update on Agreement With Government of Eq...
22/01/2015IIROC Trading Resumption - MPL; BLT
22/01/2015Brilliant Announces Agreement with the Government of Equator...
22/01/2015IIROC Trading Halt - BLT
25/11/2014Brilliant Resources and Montana Exploration Announce Termina...
08/10/2014Brilliant Announces Letter Agreement Setting Out Terms of Ac...
12/06/2014Brilliant Proceeds to Arbitration Against the Government of ...
19/11/2008Will Be Exhibiting at the San Francisco Hard Assets Conferen...
26/09/2008Will Be Exhibiting at the Toronto Resource Investment Confer...
23/06/2008TSX Venture 50 Ranks Brilliant Mining In Top 10 Mining Compa...
16/06/2008Ore Deliveries Unaffected - Lanfranchi Nickel Mine, Kambalda...
29/05/2008Retires $5 Million Convertible Debenture with Cash Payment
15/05/2008Cash Position Increases Receives $3.4 Million from Warrant E...
16/04/2008Visits Kamloops, White Rock and Victoria
29/01/2008Presents at 2008 World Outlook Financial Conference
15/01/2008Chairman s Message - Brilliant Mining 2007 Year in Review
01/11/2007Strong Conductor Down-Plunge of Deacon?Surface Drill Program...
24/09/2007Reports Significant Increase to Nickel Reserves and Resource...
07/08/2007Deacon Ore Reserve Exceeds 43,000 Tonnes of Nickel Metal; Tr...
01/08/2007Brilliant Nickel Production Un-hedged, Lanfranchi Nickel Min...
17/07/2007Quarterly Nickel Ore Deliveries Lanfranchi Nickel Mine, Kamb...
16/07/2007Commences Drilling at Michikamau Ni-Cu-Co-PGE Project: Labra...
20/06/2007Recognized as Top 10 Mining Company For 2007 TSX Venture 50 ...
05/03/2007Initial Deacon Resource Exceeds Expectations; 1,325,000 Tonn...
26/05/2006closes acquisition of Donegal Resources Pty Ltd.;…
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