/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED
STATES. ANY FAILURE TO COMPLY WITH THIS RESTRICTION MAY
CONSTITUTE A VIOLATION OF U.S. SECURITIES LAWS./
TORONTO,
June 14, 2013 /CNW/ - CHINAPINTZA
MINING CORP. (TSX-V: CPA) (the "Company") is
pleased to announce that it completed its previously announced
acquisition (the "Transaction") of Minera Guang Shou Ecuador
S.A. ("Guang Shou") on June
14, 2013 constituting the qualifying transaction of the
Company pursuant to the policies of the TSX Venture Exchange
(the "Exchange"). As a consequence of the
Transaction, the Company has indirectly acquired a 70% interest in
the Ecuador company JVChinapintza
Mining S.A. which holds a 100% beneficial interest in and title to
an Ecuador gold mineral property
located in the Viche Conguime I Concession of the Condor Gold
Project in the Zamora Province of
Ecuador (the "Chinapintza
Property"). The Transaction was carried out by way of
a three-cornered amalgamation (the "Amalgamation") between
Guangshou Ecuador Minerals Ltd. ("GSI Subco") and a
wholly-owned British Columbia
subsidiary of the Company to form a new corporation continued under
the Business Corporations Act (British Columbia). Under the
Amalgamation, all shareholders of GSI Subco exchanged their common
shares of GSI Subco to the Company in return for common shares of
the Company on a one-for-one basis. As a result of the Transaction,
Amalco has become a wholly-owned subsidiary of the Company.
On June 12, 2013,
the Exchange issued its conditional approval of the Transaction.
The Company's common shares (the "Common Shares")
will resume trading on the Exchange under the ticker symbol "CPA"
after the Exchange's conditions for listing are satisfied and the
Exchange issues its final exchange bulletin confirming the
completion of the Transaction.
With the completion of the Transaction, the
Company has 44,054,375 common shares issued and outstanding (on an
undiluted basis), no warrants outstanding, options to acquire
736,500 common shares outstanding. The principals of the Company
collectively hold 35,250,000 common shares and 736,500 stock
options of the Company all of which are subject to a Tier 2 Value
Security Escrow Agreement.
In connection with the completion of the
Transaction, the Company is pleased to announce its board of
directors as follows: Dongsheng Li,
Paul Haber, Bill Mitoulas and James
Xiang. In addition, the Company is pleased to announce its
executive management as follows:
- Dongsheng Li - President and
Chief Executive Officer
- Bill Mitoulas - Chief
Financial Officer and Corporate Secretary
Summaries of the biographies for all of the
directors and executive management of the Company are set out in
the Company's Filing Statement dated May 29,
2013 (available on SEDAR at www.sedar.com).
The Company's Filing Statement dated
May 29, 2013 describes the businesses
of the Company and Minera Guang Shou Ecuador S.A., and the terms of
the Transaction are available on the SEDAR website at
www.sedar.com.
FORWARD LOOKING INFORMATION
Certain statements contained in this press
release constitute forward-looking information. These statements
relate to future events or future performance. The use of the word,
"will" and similar expressions and statements relating to matters
that are not historical facts are intended to identify
forward-looking information and are based on the Company's current
belief or assumptions as to the outcome and timing of such future
events. Actual future results may differ materially. In particular,
this news release contains forward-looking information relating to
the satisfaction of the issuance of the final exchange bulletin in
respect of the Transaction and the listing of the common shares.
The final exchange bulletin will not be issued if the Exchange
determines that the Company has not met the conditions set out in
the Exchange's conditional approval letter.
Various assumptions or factors are typically
applied in drawing conclusions or making the forecasts or
projections set out in forward-looking information. Those
assumptions and factors are based on information currently
available to the Company. The material factors and assumptions
include the ability of the Company to meet the conditions for
listing of the Exchange. The Company cautions the reader that the
above list of risk factors is not exhaustive.
The forward-looking information contained in
this release is made as of the date hereof and the Company is not
obligated to update or revise any forward-looking information,
whether as a result of new information, future events or otherwise,
except as required by applicable securities laws. Because of the
risks, uncertainties and assumptions contained herein, investors
should not place undue reliance on forward-looking information. The
foregoing statements expressly qualify any forward-looking
information contained herein.
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.
SOURCE Chinapintza Mining Corp.