Dia Bras Exploration Inc. Acquires all of the Common Shares in Plexmar Resources Inc. After Receiving Final Court Approval for Plan of Arrangement
TORONTO, Nov. 14, 2012 /PRNewswire/ - Dia Bras Exploration Inc. (TSX-V:DIB) (BVLAC:DIB) ("Dia Bras") and Plexmar Resources Inc. (TSX-V:PLE) ("Plexmar") are pleased to announce that they have closed their previously announced plan of arrangement (the "Plan of Arrangement") whereby Dia Bras has acquired all of the outstanding common shares of Plexmar (the "Plexmar Shares"), subsequent to the granting of the final order approving the Plan of Arrangement on November 13, 2012 by the Ontario Superior Court of Justice (Commercial List).
As previously disclosed, the transaction was approved by Plexmar shareholders on October 29, 2012. Information concerning the Plan of Arrangement is set out in Plexmar's annual general and special meeting circular (the "Circular") dated October 1, 2012 that was mailed to all Plexmar shareholders. A copy of the Circular is available electronically at www.sedar.com.
As described in the Circular, Plexmar will be de-listed from the TSX-V. Dia Bras intends to file an application for Plexmar to cease to be a reporting issuer in the provinces of British Columbia, Alberta, Ontario and Quebec.
About Dia Bras
Dia Bras is a Canadian and Peruvian listed (TSX-V: DIB, BVL: DIB) exploration and mining company focused on precious and base metals in Chihuahua State, other areas of northern Mexico, and most recently at its Yauricocha silver-lead-zinc-copper-gold mine in Peru. The Company is accelerating exploration at the Yauricocha property as well as pursuing the development and exploration of its most advanced Mexican assets - the Bolivar Property (copper-zinc-silver) and the Cusi Property (silver-lead) and is exploring in Mexico several precious metal targets such as La Sidra gold project at the Bolivar Property, Las Coloradas silver project at Melchor Ocampo (Zacatecas State), the Bacerac silver project (Sonora State), and the La Verde gold project at the Batopilas Property (Chihuahua State). Dia Bras is also exploring base metal projects in Mexico such as the Corralitos intrusion-hosted molybdenum deposit.
Plexmar is a Canadian exploration company focused on acquiring, exploring and developing gold mineral properties. Its main asset is Bolsa del Diablo, a gold project in northern Peru, which covers an area of nearly 22,000 ha and is located near the border with Ecuador. In total, Plexmar owns 100% of 39 concessions and has the right to acquire 100% of 1 more concession through an option agreement.
Additionally, Plexmar owns the Malin Plant located 125 km northeast of Trujillo in northern Peru.
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.
Except for statements of historical fact, all statements in this news release without limitation regarding new projects, acquisitions, future plans and objectives are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate; actual results and future events could differ materially from those anticipated in such statements.
SOURCE Dia Bras Exploration Inc.