Aegean Metals Group Inc.
TSX VENTURE : AGN
FRANKFURT : A91

Aegean Metals Group Inc.

January 16, 2015 09:00 ET

Aegean Metals Group Inc. Announces Closing of Arrangement

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Jan. 16, 2015) - Aegean Metals Group Inc. (TSX VENTURE:AGN)(FRANKFURT:A91) ("Aegean" or the "Company") is pleased to announce the closing of the previously announced plan of arrangement (the "Arrangement") pursuant to which Mariana Resources Limited ("Mariana") has acquired all of the issued and outstanding shares of Aegean effective on January 16, 2015. The Arrangement was approved by the Aegean shareholders on January 6, 2015 and by the Supreme Court of British Columbia on January 14, 2015. With the completion of the Arrangement, Aegean shares have been halted from trading on the TSX Venture Exchange (the "Exchange").

Under the terms of the Arrangement, Aegean shareholders will receive 1.902 ordinary shares of Mariana in exchange for each Aegean share they hold. Aegean will coordinate with the Exchange to complete the push out of Mariana shares expected to occur on or around January 27, 2015 (the "Pushout Date"). Such Aegean shares are expected to be delisted from the Exchange on or around the Pushout Date.

About Aegean Metals Group Inc.

Aegean Metals Group Inc. is a Canadian junior exploration company focused on the acquisition, exploration and development of high grade gold, copper and polymetallic deposits in favourable jurisdictions that have the potential to become operating mines with strong cash flows. The Company currently holds two projects in Turkey: the recently optioned Hot Maden gold and base metal prospect in northeast Turkey and the Ergama high sulfidation epithermal gold prospect in western Turkey, where Aegean will ultimately retain a 49% interest upon completion of Teck Resources' back-in expenditure commitments. In northern Chile, the Company also recently staked two new exploration prospects, the Doña Inés gold-silver property and the Exploradora East prospect. For more details on the Company, please visit www.aegeanmetalsgroup.com.

ForwardLooking Statement

This news release includes certain "forward‐looking information" within the meaning of that phrase under Canadian securities laws. Without limitation, statements regarding potential mineralization and resources, exploration results, and future plans and objectives of the Company contain forward-looking information that involves various degrees of risk. Forward‐looking information reflects management's beliefs and assumptions and subject to known and unknown risks and uncertainties, both general and specific to the Company. Although the Company believes the expectations expressed in such forward‐looking information are reasonable, such information and statements are not guarantees of future performance and actual results or developments may differ materially from those in our forward-looking information. The following are important factors that could cause the Company's actual results to differ materially from those expressed or implied by such forward-looking information: changes in the world wide price of commodities, general market conditions, risks inherent in exploration, risks associated with development, construction and mining operations, the uncertainty of future profitability and the uncertainty of access to additional capital. The Company undertakes no obligation to update this forward‐looking information except as required by applicable law.

Neither 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 release.

Contact Information

  • Glen Parsons
    Suite 102, 3 Eden Street
    North Sydney, NSW, 2060, Australia
    +61 2 9437 4588
    +61 2 9437 4599 (FAX)
    info@marianaresources.com