SOURCE: International Minerals Corporation

International Minerals Corporation

December 05, 2013 23:30 ET

International Minerals Provides Update on Closing Date of the Arrangement With Hochschild

SCOTTSDALE, AZ--(Marketwired - Dec 5, 2013) - International Minerals Corporation (TSX: IMZ) (SWISS: IMZ) (the "Company" or "IMZ") announces that the closing of the previously-announced transaction by way of a plan of arrangement (the "Arrangement") involving IMZ and Hochschild Mining plc ("Hochschild"), pursuant to which Hochschild will acquire IMZ, is now anticipated to occur on or before December 20, 2013.

The closing of the Arrangement was previously anticipated to occur on or about Friday, December 13, 2013 (see news release dated December 2, 2013) and the new closing date has been estimated based on the time required to finalize all remaining steps needed to complete this complex transaction.

Assuming a December 20 closing date, trading of the Company's shares on the SIX Swiss Exchange will be suspended at the close of the market on December 19, after which time the shares would no longer be trading. Trading of the Company's shares on the TSX will cease in accordance with the policies of the TSX. At this time, there is no assurance that the closing date for the transaction will be December 20, 2013; any further change to the closing date will be disclosed on a timely basis.

Hochschild Mining plc does not accept any responsibility for the adequacy or inadequacy of the disclosure made in this news release and any such responsibility is hereby disclaimed in all respects.

Cautionary Statements:

Some of the statements contained in this release are "forward-looking statements" within the meaning of Canadian securities law requirements. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements in this release include statements regarding closing of the Arrangement Agreement with Hochschild. Factors that could cause actual results to differ materially from anticipated results include risks and uncertainties such as: uncertainties relating to risks that could delay or cause termination of a complex business transaction, including lack of final regulatory approval for the listing of Chaparral Gold on the TSX; and other risks and uncertainties detailed in the Company's Management Information Circular dated October 25, 2013 and Annual Information Form for the year ended June 30, 2013, which is available at www.sedar.com under the Company's name. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Contact Information

  • For additional information, contact:

    In North America:
    Paul Durham,
    VP Corp Relations
    Tel: +1 203 883 8358

    Robert Thaemlitz
    Renmark Financial Communications
    Tel: +1 514 939 3989

    In Europe:
    Oliver Holzer
    Marketing Consultant
    Tel: +41 44 853 00 47

    Or email the Company at: Email Contact Web Site: http://www.intlminerals.com