/NOT FOR DISTRIBUTION IN THE UNITED
STATES OR FOR DISSEMINATION TO US NEWS WIRE SERVICES./
TSX-V: AFF
AIM: AFF
LONDON, UK,
Oct. 10, 2013 /CNW/ - Afferro Mining
Inc. ("Afferro" or the "Company") announces that on 9 October 2013 the British Columbia Supreme Court issued a final
order approving the previously announced proposed acquisition by
International Mining & Infrastructure Corporation Plc ("IMIC")
of 100% of the issued and outstanding share capital of Afferro
pursuant to a plan of arrangement (the "Arrangement").
Completion of the Arrangement remains
conditional on, inter alia, approval by IMIC shareholders
and the satisfaction or waiver of the conditions to closing,
including receipt of all necessary regulatory approvals, all of
which are more particularly set forth in the arrangement agreement
made among IMIC, Afferro and a wholly-owned subsidiary of IMIC
dated 23 June 2013, as amended
18 July 2013 and 12 September 2013 (the "Arrangement
Agreement").
About Afferro Mining Inc.
Afferro is an established exploration and
development company listed on the TSX-V (AFF) and AIM (AFF).
Afferro's portfolio includes the 100% owned Nkout, Ntem and
Akonolinga iron ore projects. It also holds a 70% interest in the
Ngoa project, an exploration target bordering Nkout. All projects
are subject to government rights. Nkout has an Indicated Mineral
Resource Estimate of 1.6Bt at 33.3% Fe and an Inferred Mineral
Resource Estimate of 0.9Bt at 30.8% Fe. Ntem has an Indicated
Mineral Resource Estimate of 39.2Mt at 34.0% Fe and an Inferred
Mineral Resource Estimate of 76.4Mt at 34.2% Fe.
Forward Looking Statements
This announcement includes certain
forward-looking statements. All statements, other than statements
of historical fact, included herein are forward-looking statements
that involve various known and unknown risks and uncertainties as
well as other factors. Such forward looking statements are subject
to a number of risks and uncertainties that may cause actual
results or events to differ materially from current expectations.
There can be no assurance that such statements will prove to be
accurate and actual results and future events could differ
materially from those anticipated in such statements.
Information about the risks and uncertainties of
the Company's business is provided in its disclosure materials,
including its Annual Information Form and the MD&A for the 12
months ended 31 December 2012,
available under the Company's profile on SEDAR at www.sedar.com.
Although the Company has attempted to identify important factors
that could cause actions, events or results to differ materially
from those described in forward looking information, there may be
other factors that cause actions, events or results not to be as
anticipated, estimated or intended.
This news releases contains forward-looking
statements concerning the expected completion date of the
Arrangement. There can be no assurance that the Arrangement will
occur or that the anticipated strategic benefits and operational,
competitive and cost synergies will be realized. The Arrangement
remains conditional on approval by IMIC shareholders and the
satisfaction or waiver of the conditions to closing, including
receipt of all necessary regulatory approvals, and there can be no
assurance that any such approvals will be obtained in a timely
manner or at all and/or any such conditions will be met.
The Arrangement could be modified, restructured
or terminated. Readers are cautioned that the foregoing list of
factors is not exhaustive. Other risks and uncertainties not
presently known to Afferro or that Afferro presently believes are
not material could also cause actual results or events to differ
materially from those expressed in the forward-looking statements
contained herein.
There can be no assurance that forward looking
information will prove to be accurate, as actual results and future
events could differ materially from those anticipated in such
information. Accordingly, readers should not place undue reliance
on forward-looking information. The forward-looking information
contained herein, speaks only as of the date hereof (unless stated
otherwise) and, except as may be required by applicable law,
Afferro disclaims any obligation to update or modify such
forward-looking statements, either as a result of new information,
future events or for any other reason.
Neither TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in policies
of the TSX Venture Exchange) accepts responsibility for the
adequacy or accuracy of this release.
SOURCE Afferro Mining Inc.