Brazilian Gold Shareholders Approve Arrangement with Brazil Resources
VANCOUVER, Nov. 20, 2013 /PRNewswire/ - Brazil Resources Inc. ("Brazil Resources") (TSX-V: BRI; OTCQX: BRIZF) and Brazilian Gold Corporation ("BGC") (TSX-V: BGC) are pleased to jointly announce that at a special meeting of shareholders of BGC held earlier today (the "Meeting"), BGC shareholders voted in favour of the proposed transaction pursuant to which Brazil Resources will acquire all of the issued and outstanding common shares of BGC by way of a plan of arrangement under the Business Corporations Act (British Columbia) (the "Arrangement"). Over 94% of the shares voted at the Meeting were voted in favour of the special resolution approving the Arrangement.
BGC's application to the Supreme Court of British Columbia to obtain the final order approving the Arrangement is currently scheduled for Thursday, November 21, 2013. If court approval is obtained and all other conditions precedent to the Arrangement are satisfied or waived, the Arrangement is expected to become effective on or about November 22, 2013.
About Brazil Resources Inc.
Brazil Resources is a public mineral exploration company with a focus on the acquisition and development of projects in emerging producing gold districts in Brazil, Paraguay and other parts of South America. Currently, Brazil Resources is advancing its Cachoeira, Montes Áureos and Trinta Gold Projects located in the Gurupi Gold Belt in northeastern-Brazil, and its Artulandia Copper-Gold Project in central Brazil.
About Brazilian Gold Corporation
BGC is a Canadian-based public company with a focus on the acquisition, exploration and development of gold properties located in northern Brazil. BGC has title to one of the largest mineral exploration land packages (3,753 km2) in the Tapajós and adjacent Alta Floresta gold provinces. The land package contains green fields to more advance stage projects including BGC's flagship São Jorge project. Rapid improvements to regional infrastructure continue to provide underlying support to Brazilian Gold's activities in northern Brazil.
Forward Looking Statements
This document contains certain forward-looking statements that reflect the current views and/or expectations of Brazil Resources and/or BGC (the "Companies") with respect to their respective business and future events, including statements regarding the Companies' beliefs and expectations regarding the completion and/or timing of the Arrangement. Forward-looking statements are based on the then-current expectations, beliefs, assumptions, estimates and forecasts about the business and the markets in which the Companies operate, including that: the Companies will be able to obtain all necessary consents and approvals, including any necessary court, third-party consents and/or regulatory approval; and other conditions under the Arrangement will be fulfilled or waived by the parties. Investors are cautioned that all forward-looking statements involve risks and uncertainties, including that the Companies may not be able to satisfy and/or obtain a waiver of their respective conditions to the transaction thereunder. These risks, as well as others, including those set forth in the Companies' respective filings with Canadian securities regulators, could cause actual results and events to vary significantly. Accordingly, readers should not place undue reliance on forward-looking statements and information. There can be no assurance that forward-looking information, or the material factors or assumptions used to develop such forward looking information, will prove to be accurate. Neither Company undertakes any obligations to release publicly any revisions for updating any voluntary forward-looking statements, except as required by applicable securities law.
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 news release.
Brazil Resources Inc.
Stephen Swatton, Chief Executive Officer
Patrick Obara, Chief Financial Officer
Telephone: (855) 630-1001
Brazilian Gold Corporation
Ian (John) Stalker, Chief Executive Officer
Joanne Yan, President
Telephone: (604) 602-8188
SOURCE Brazil Resources Inc.