Silver Bear Announces Receipt of Final Order in Respect of Arrangement
TORONTO, ONTARIO--(Marketwired - Jun 28, 2017) - Silver Bear Resources Inc. ("Silver Bear" or the "Company") (TSX:SBR) is pleased to announce that the Ontario Superior Court of Justice has issued a final order approving the previously announced plan of arrangement (the "Arrangement") of the Company under the Business Corporations Act (Ontario) involving the Company and Silver Bear Resources Plc.
It is currently anticipated that the Arrangement will become effective on June 30, 2017, subject to the satisfaction or waiver of customary closing conditions.
Further details regarding the Arrangement are set out in a press release of the Company dated March 15, 2017 and the Company's management information circular dated May 23, 2017.
About Silver Bear
Silver Bear (TSX:SBR) is focused on the development of its wholly-owned Mangazeisky Silver Project, covering a licence area of approximately 570 km2 that includes the high-grade Vertikalny deposit (amongst the highest- grade silver deposits in the world), located 400 km north of Yakutsk in the Republic of Sakha within the Russian Federation. The Company was granted a 20-year mining licence for the Vertikalny deposit in September 2013 and announced an updated Feasibility Study in October 2016. Project construction and permitting is advancing with first silver production targeted for Q4 2017. Other information relating to Silver Bear is available on SEDAR at www.sedar.com as well as on the Company's website at www.silverbearresources.com.
Cautionary Notes
This release and subsequent oral statements made by and on behalf of the Company may contain forward-looking statements, which reflect management's expectations. Wherever possible, words such as "intends", "expects", "scheduled", "estimates", "anticipates", "believes" and similar expressions or statements that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved, have been used to identify these forward-looking statements. Although the forward-looking statements contained in this release reflect management's current beliefs based upon information currently available to management and based upon what management believes to be reasonable assumptions, Silver Bear cannot be certain that actual results will be consistent with these forward-looking statements. Forward-looking statements in this press release include statements regarding the completion of the UK restructuring transaction and the Arrangement. A number of factors could cause events and achievements to differ materially from the results expressed or implied in the forward-looking statements. Such risk factors include, but are not limited, to the possibility that certain conditions to completion of the Arrangement are not satisfied and to risk factors identified by Silver Bear in its continuous disclosure filings filed from time to time on SEDAR. These factors should be considered carefully and prospective investors should not place undue reliance on the forward-looking statements. Forward-looking statements necessarily involve significant known and unknown risks, assumptions and uncertainties that may cause Silver Bear's actual results, events, prospects and opportunities to differ materially from those expressed or implied by such forward-looking statements. Although Silver Bear has attempted to identify important risks and factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors and risks that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, prospective investors should not place undue reliance on forward-looking statements. These forward-looking statements are made as of the date of this release, and Silver Bear assumes no obligation to update or revise them to reflect new events or circumstances, unless otherwise required by law.
Contact
Graham Hill
President and Chief Executive Officer
+7 916 731 5673
info@silverbearresources.com
Judith Webster
Investor Relations Manager & Corporate Secretary
+416 453 8818
jwebster@silverbearresources.com
Buchanan UK
Bobby Morse: +44 (0) 20 7466 5000
Anna Michniewicz: +44(0) 20 7466 5146