Vaaldiam Resources Ltd.

Vaaldiam Resources Ltd.

November 09, 2007 15:47 ET

Vaaldiam Mails Offer to Great Western Shareholders

TORONTO, ONTARIO--(Marketwire - Nov. 9, 2007) - Vaaldiam Resources Ltd. (TSX:VAA) announces that its formal offer to acquire all of the outstanding common shares of Great Western Diamonds Corp. (TSX VENTURE:GWD), on the basis of 0.45 of a common share of Vaaldiam for each common share of Great Western, was filed with the securities regulators today and has been mailed to the Great Western shareholders. The Board of Directors of Great Western recommends that shareholders accept the offer and tender their shares to the offer. The offer is open for acceptance until 8:00 p.m. (Toronto time) on December 17, 2007.

Important Notice

As a result of restrictions under United States security laws, certain Great Western shareholders that (i) are U.S. Persons (as such term is defined in Regulation S under the United States Securities Act of 1933) or (ii) hold Great Western shares on behalf of a U.S. Person (collectively "U.S. Shareholders") shall not be entitled to receive Vaaldiam shares in connection with the Great Western offer. Instead, Vaaldiam shares that would have otherwise been distributed to such U.S. Shareholders will be deposited in trust and sold in the market through an orderly sale and the net cash proceeds remitted to U.S. Shareholders.

This press release is not an offer of Vaaldiam shares or any other securities for sale in the United States. The Vaaldiam shares will not be registered under the United States Securities Act and may not be offered or sold in the United States absent registration or an applicable exemption from registration.

Contact Information

  • Vaaldiam Resources Ltd.
    Ken Johnson
    President and Chief Executive Officer
    (416) 363-6927
    Vaaldiam Resources Ltd.
    Janet Reid
    Manager Investor Relations
    (416) 363-6927