NEMI Northern Energy and Mining Inc. Reminds Securityholders of Substantial Issuer Bid Expiry
22.12.2011 | CNW
VANCOUVER, Dec. 21, 2011 - NEMI Northern Energy & Mining Inc. ('NEMI' or the 'Company') reminds the holders (the 'Securityholders') of the Company's outstanding Class 'A' Common Shares (the 'Shares') and 8% convertible debentures (the 'Debentures') that its previously announced substantial issuer bid (the 'Offer'), pursuant to which NEMI has offered to repurchase for cancellation (i) up to 38,000,000 of its outstanding Shares at a purchase price of $1.06 per Share; and (ii) up to $10,449,000 in principal amount of Debentures at a purchase price of $117.78 per $100 in principal amount of Debenture, plus accrued and unpaid interest, will expire at 5:00 p.m. (Toronto time) on December 28, 2011, unless extended, varied or withdrawn.Securityholders are urged to consult the formal offer to purchase, which includes a copy of the formal valuation of the Shares prepared by Salman Partners Inc., together with the letter of transmittal and notice of guaranteed delivery (the 'Offer Documents') for the terms and conditions of the Offer and instructions for tendering Shares and Debentures. The Offer Documents were mailed to Securityholders, and are also available under NEMI's SEDAR profile at www.sedar.com and on NEMI's website at www.nemi-energy.com.
Neither the Company nor its Board of Directors makes any recommendation to Securityholders as to whether to tender or refrain from tendering their securities to the Offer.
Securityholders are strongly urged to consult their own financial, tax and legal advisors and to make their own decisions as to whether to tender or refrain from tendering their securities to the Offer and, if so, how many Shares, or what principal amount of Debenture to tender.
This news release includes forward-looking statements that are subject to risks and uncertainties. All statements within, other than statements of historical fact, are to be considered forward looking. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, continued availability of capital and financing, and general economic, market or business conditions. There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. We do not assume any obligation to update any forward-looking statements.
CONTACT:
Michael Cooney, Chairman
NEMI Northern Energy & Mining Inc.
(T) (415) 339-8825