Vaaldiam Mining Inc.

Vaaldiam Mining Inc.

June 29, 2012 17:22 ET

Vaaldiam Mining and BCKP Limited Announce Completion of Plan of Arrangement

TORONTO, ONTARIO--(Marketwire - June 29, 2012) - Vaaldiam Mining Inc. (TSX:VAA) ("Vaaldiam" or the "Company") and BCKP Limited ("BCKP") announce today the closing of the previously announced plan of arrangement (the "Arrangement"), pursuant to which BCKP acquired beneficial ownership of 71,634,711 common shares of Vaaldiam, representing 100% of the outstanding common shares of Vaaldiam, at a price of $0.2649292 for each common share of Vaaldiam.

The Arrangement was carried out pursuant to the provisions of the Canada Business Corporations Act and was approved by the Ontario Superior Court of Justice (Commercial List) on June 28, 2012 and the affirmative votes of the Vaaldiam shareholders at a meeting held on June 21, 2012.

The purpose of the Arrangement was to enable BCKP to acquire all of the outstanding common shares of Vaaldiam. Vaaldiam intends to make an application to cease to be a reporting issuer in all of the applicable provinces of Canada and to de-list the common shares of Vaaldiam from the Toronto Stock Exchange at the close of business on or about Thursday, July 5, 2012.

Registered holders of Vaaldiam common shares are reminded that, in order to receive the consideration to which they are entitled pursuant to the Arrangement, they should promptly complete and execute the letter of transmittal delivered to them with their shareholder meeting materials and which is also available online at, and present and surrender the certificate(s) representing their Vaaldiam common shares in accordance with the letter of transmittal to Computershare Investor Services Inc., the depositary for the Arrangement, at the address indicated on the letter of transmittal. Failure to present and surrender the certificate(s) representing such Vaaldiam common shares on or before the sixth anniversary of closing will result in the termination of any entitlement of the holder of such common shares to receive the consideration otherwise payable to such holder under the Arrangement.

About BCKP

BCKP is a Cayman Islands corporation with a registered office at the offices of Maples Corporate Services Limited, PO Box 309, Ugland House, Grand Cayman, KY1 1104. For a copy of the early warning report with respect to the Arrangement, please contact Nancy Eastman at 416 865-4387.

Forward Looking Information

Certain information contained in this news release, including any information relating to the application to cease to be a reporting issuer and the de-listing from the Toronto Stock Exchange are "forward-looking". These forward-looking statements are subject to risks and uncertainties that the applications will not be approved in the expected timeframe. Although Vaaldiam believes that the forward-looking information contained in this news release is based on reasonable assumptions, readers cannot be assured that actual results will be consistent with such statements. Accordingly, readers are cautioned against placing undue reliance on forward-looking information. Vaaldiam expressly disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, events or otherwise, except in accordance with applicable securities laws.

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