Rio Verde Minerals Development Corp.

Rio Verde Minerals Development Corp.

August 02, 2011 06:00 ET

Rio Verde Minerals Development Corp. (Formerly EM Resources Inc.) Announces Completion of Plan of Arrangement and Upcoming Listing on Toronto Stock Exchange

TORONTO, ONTARIO--(Marketwire - Aug. 2, 2011) -

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

Rio Verde Minerals Development Corp. (formerly EM Resources Inc.) (the "Company", unlisted), is pleased to announce the completion on July 28, 2011 of the plan of arrangement (the "Arrangement") involving Rio Verde Minerals Corp. ("Rio Verde"), EM Resources Inc. ("EM Resources"), EM Subco (BVI) Inc. ("EM Subco") and Talon Metals Corp. ("Talon"), as previously announced in the April 5, 2011, Press Release (see: April 5, 2011, "Rio Verde Minerals Announces Arrangement Agreement with Talon Metals and EM Resources").

Pursuant to the Arrangement, Rio Verde, EM Subco and Talon Spinco Inc., a subsidiary of Talon, were consolidated to create a new company, Rio Verde Holdings Inc., which became a wholly-owned subsidiary of the Company. As a result of the Arrangement, each outstanding security of Rio Verde and Talon Spinco was exchanged for an equal number of securities of the Company on a one-for-one basis.

Prior to completing the Arrangement, the Company was continued to the British Virgin Islands (BVI), its name was changed from "EM Resources Inc." to "Rio Verde Minerals Development Corp.", and its shares were consolidated on a one-for-two basis. A copy of the certificate of continuance, the memorandum and articles of association of the Company and the articles and certificate of arrangement will be available on SEDAR at www.sedar.com.

Upcoming Listing on the Toronto Stock Exchange

An application has been granted for the original listing of the ordinary shares of the Company on the Toronto Stock Exchange. It is anticipated that trading will commence on or about August 3, 2011, under the symbol RVD.

About Rio Verde Minerals Development Corp.

Rio Verde Minerals Development Corp. is a company focused on the exploration and development of fertilizer projects in Brazil. The Company's goal is to become the leading Brazilian fertilizer mining and development company by selecting prime assets that are near infrastructure, with known mineralization, in regions without significant social or environmental issues. The Company plans to fast-track the best projects to development, to create stakeholder value in the near-term.

The Company holds one potash project and a portfolio of phosphate projects in Brazil. Potash and phosphate fertilizers have favourable supply and demand dynamics, and the Company has a significant cost advantage by being based in Brazil, a country that imports about 90% of its potash and 50% of its phosphate needs. The Company intends to fast-track potash exploration to establish a Canadian National Instrument 43-101 resource in the next six months.

Forward-Looking Statements

This press release contains forward-looking statements. All statements, other than of historical fact, that address activities, events or developments that the Company believes, expects or anticipates will or may occur in the future (including, without limitation, statements regarding the estimation of mineral resources, exploration results, potential mineralization, potential mineral resources and mineral reserves) are forward-looking statements. Forward-looking statements are often identifiable by the use of words such as "anticipate", "believe", "plan", may", "could", "would", "might" or "will", "estimates", "expect", "intend", "budget", "scheduled", "forecasts" and similar expressions or variations (including negative variations) of such words and phrases. Forward-looking statements are subject to a number of risks and uncertainties, many of which differ materially from those discussed in the forward-looking statements. Factors that could cause actual results or events to differ materially from current expectations include, among other things, without limitation, failure to establish estimated mineral resources, the possibility that future exploration results will not be consistent with the Company's expectations, the price of potash and phosphate, changes to regulations affecting the Company's activities, including tax and trade laws and policies; delays in obtaining or failures to obtain required regulatory permits and approvals from government authorities; delays in commencing the Company's proposed drilling program, exploration costs varying significantly from estimates; uncertainties relating to the availability and costs of financing needed to complete exploration activities and demonstrate the feasibility of the Company's projects; the success of future exploration and development initiatives; and other risks involved in the mineral exploration and development industry. Any forward-looking statement speaks only as of the date on which it is made and, except as may be required by applicable securities laws, the Company disclaims any intent or obligation to update any forward-looking statement.

Contact Information

  • Rio Verde Minerals Development Corp.
    Stephen Keith
    President & CEO
    +1 (416) 368-8288
    info@Rvminerals.com

    Rio Verde Minerals Development Corp.
    Alex Penha
    VP Corporate Development
    +1 (416) 368-1573
    apenha@Rvminerals.com