Alberta Ltd. will acquire all of the issued and outstanding common shares of the Corporation at a cash price of C$10.00 per share, for a total cash consideration of approximately C$1.0 billion. In accordance with the order, the materials for the Grande Cache Coal shareholders' meeting to approve the Arrangement, which has been scheduled for January 12, 2012, are anticipated to be mailed to shareholders on December 14, 2011. Grande Cache Coal anticipates that the Arrangement will become effective in February 2012.
About Grande Cache Coal
Grande Cache Coal is an Alberta based metallurgical coal
mining company whose experienced team of coal professionals
are managing a mine that produces metallurgical coal for the
steel industry and holds coal leases covering over 22,000
hectares containing an estimated 346 million tonnes of coal
resources in the Smoky River Coalfield located in
west-central Alberta. Grande Cache Coal's common shares
are listed on the Toronto Stock Exchange under the trading
symbol "GCE".
For further information, please contact:
Ian Bootle
Vice President, Finance and Chief Financial Officer
Grande Cache Coal Corporation Suite 1610, 800 - 5th Avenue
S.W. Calgary, Alberta T2P 3T6
Canada
Telephone: (403) 543-7070
Facsimile: (403) 543-7092 www.gccoal.com
W: 60124 001Press Releases2011News Release - December 9, 2011 (01).doc
Forward-Looking Statement Advisory
This news release contains forward-looking statements and
forward-looking information within the meaning of applicable
securities laws. The use of any of the words
"expect", "anticipate",
"continue", "estimate",
"objective", "ongoing", "may",
"will", "project", "should",
"believe", "plans", "intends"
and similar expressions are intended to identify
forward-looking statements or information. More particularly
and without limitation, this news release contains
forward-looking statements and information concerning: the
anticipated timing of the mailing of materials for the
Corporation's shareholders' meeting to approve the
Arrangement and the closing of the Arrangement.
In respect of the forward-looking statements and information
concerning the anticipated completion of the proposed
Arrangement and the anticipated timing for completion of the
Arrangement, Grande Cache Coal has provided such in reliance
on certain assumptions that it believes are reasonable at
this time, including assumptions as to the time required to
prepare and mail Grande Cache Coal shareholder meeting
materials, including the required information circular; the
ability of the parties to receive, in a timely manner, the
necessary regulatory, court, shareholder and other third
party approvals, including but not limited to Investment
Canada Act approval; and the ability of the parties to
satisfy, in a timely manner, the other conditions to the
closing of the Arrangement. These dates may change for a
number of reasons, including unforeseen delays in preparing
meeting materials, inability to secure necessary shareholder,
regulatory, court or other third party approvals in the time
assumed or the need for additional time to satisfy the other
conditions to the completion of the Arrangement. Accordingly,
readers should not place undue reliance on the
forward-looking statements and information contained in this
news release concerning these times.
Risks and uncertainties inherent in the nature of the
Arrangement include the failure of Grande Cache Coal, 1629835
Alberta Ltd. ("AcquisitionCo") or Winsway Coking
Coal Holdings Limited ("Winsway") to obtain
necessary shareholder, regulatory, court and other third
party approvals, or to otherwise satisfy the conditions to
the Arrangement, in a timely manner, or at all. Failure to so
obtain such approvals, or the failure of Grande Cache Coal,
AcquisitionCo or Winsway to otherwise satisfy the conditions
to the Arrangement, may result in the Arrangement not being
completed on the proposed terms, or at all. In addition, the
failure of Grande Cache Coal to comply with the terms of the
Arrangement Agreement may result in Grande Cache Coal being
required to pay a non-completion or other fee to
AcquisitionCo, the result of which could have a material
adverse effect on Grande Cache Coal's financial position
and results of operations and its ability to fund growth
prospects and current operations.
Readers are cautioned that the foregoing list of factors is
not exhaustive. Additional information on other factors that
could affect the operations or financial results of Grande
Cache Coal are included in reports on file with applicable
securities regulatory authorities, including but not limited
to, Grande Cache Coal's Annual Information Form for the
fiscal year ended March 31,
2011 which may be accessed on Grande Cache Coal's SEDAR
profile at www.sedar.com.
The forward-looking statements and information contained in
this news release are made as of the date hereof and Grande
Cache Coal undertakes no obligation to update publicly or
revise any forward-looking statements or information, whether
as a result of new information, future events or otherwise,
unless so required by applicable securities laws.
W: 60124 001Press Releases2011News Release - December 8, 2011 (01).doc
distribué par | Ce noodl a été diffusé par Grande Cache Coal Corporation et initialement mise en ligne sur le site http://www.gccoal.com. La version originale est disponible ici. Ce noodl a été distribué par noodls dans son format d'origine et sans modification sur 2011-12-09 23:48:09 PM et restera accessible depuis ce lien permanent. Cette annonce est protégée par les règles du droit d'auteur et toute autre loi applicable, et son propriétaire est seul responsable de sa véracité et de son originalité. |
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