AM Gold shareholders approve sale of PinayaVANCOUVER, CANADA — Kaizen Discovery Inc. (TSXV: KZD) is pleased to announce that AM Gold Inc. shareholders passed a special resolution to approve the previously announced sale to Kaizen of Canper Exploraciones S.A.C., a Peruvian subsidiary of AM Gold whose material asset is the Pinaya Copper-Gold Project.
Copper-Gold Project in Peru to Kaizen Discovery
The special resolution was approved by 99.9% of the votes cast by AM Gold shareholders.
The closing of the transaction with AM Gold is subject to certain other closing conditions, including (i) approval of the transaction by the TSX Venture Exchange in respect of both Kaizen and AM Gold; (ii) delivery of a title opinion for the Pinaya Project acceptable to Kaizen, and (iii) no material adverse effect upon closing for Kaizen, AM Gold or Canper.
The Pinaya Project covers 192 square kilometres and includes more than 25 kilometres of strike length within the emerging Andahuaylas-Yauri Porphyry Belt in southeastern Peru. This belt hosts numerous productive and world-class porphyry and skarn systems, including Las Bambas, Tintaya, Constancia and Haquira.
More information on the planned transaction with AM Gold and the Pinaya Project is available in Kaizen's July 6, 2015 news release available at www.kaizendiscovery.com.
About Kaizen Discovery
Kaizen is a Canadian mineral exploration and development company. Kaizen entered into a collaboration agreement with ITOCHU Corporation of Japan in January 2014 and has access to HPX TechCo's proprietary, geophysical, Typhoon technology under a dedicated services agreement. Kaizen's long-term growth strategy is to work with Japanese entities to identify, explore and develop high-quality mineral projects that have the potential to produce and deliver minerals to Japan's industrial sector.
B. Matthew Hornor
President and CEO
Executive Vice President -- Corporate Development
Neither the 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.
Statements in this news release that are forward-looking statements are subject to various risks and uncertainties concerning the specific factors disclosed here and elsewhere in both Kaizen's and AM Gold's periodic filings with Canadian securities regulators. When used in this news release, words such as "will", "could", "plan", "estimate", "expect", "intend", "may", "potential", "should," and similar expressions, are forward-looking statements. Information provided in this document is necessarily summarized and may not contain all available material information.
Forward-looking statements include, without limitation, statements regarding completion of the transaction and other statements that are not facts. Forward-looking statements are based on a number of assumptions and estimates that, while considered reasonable by management based on the business and markets in which Kaizen and AM Gold operate, are inherently subject to significant operational, economic and competitive uncertainties and contingencies.
Assumptions upon which forward looking statements relating to the transaction have been made include that Kaizen and AM Gold will be able to satisfy the closing conditions to the transaction; that all required third party, regulatory, stock exchange, and government approvals will be obtained; and that the transaction will be successfully concluded. In addition, the factors described or referred to in the section entitled "Risk Factors" in the MD&A of both companies and which are available on the SEDAR website at www.sedar.com, should be reviewed in conjunction with the information found in this news release.
Although Kaizen and AM Gold have attempted to identify important factors that could cause actual results, performance or achievements to differ materially from those contained in the forward-looking statements, there can be other factors that cause results, performance or achievements not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate or that management's expectations or estimates of future developments, circumstances or results will materialize. As a result of these risks and uncertainties, the transaction could be modified, restricted or not completed, and the results or events predicted in these forward looking statements may differ materially from actual results or events. Accordingly, readers should not place undue reliance on forward-looking statements.
View the release in PDF format:
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