VANCOUVER,
Aug. 29, 2013 /CNW/ - Coronado
Resources Ltd. (TSX-V: CRD) and (OTCQX: CRDAF)
("Coronado") is pleased to announce that, at the annual general and
special meeting of Coronado's
shareholders held earlier today (the "Meeting"), Coronado's proposed change of business
acquisition previously announced on May 14,
2013 (the "Acquisition"), was approved by the disinterested
shareholders of Coronado. If the
Acquisition is completed, Coronado
will acquire of all of the outstanding common shares of Opunake
Hydro Limited ("OHL") from TAG Oil Ltd. and Opunake Hydro Holdings
Limited in exchange for 14,461,567 common shares of Coronado.
The completion of the Acquisition remains
subject to the satisfaction of a number of conditions, including
final approval from the TSX Venture Exchange, and the requisite
regulatory approvals in New
Zealand. Coronado expects
the Acquisition will be completed during the third calendar quarter
of 2013.
At the Meeting, the shareholders of Coronado also elected the board of directors,
re-appointed its auditors, re-approved Coronado's stock option plan, and approved an
advance notice policy.
Further information regarding the Meeting and
the proposed Acquisition is contained in Coronado's information circular dated
July 29, 2013 that has been filed on
Coronado's SEDAR profile and can
be obtained at www.sedar.com.
Completion of the Acquisition remains subject
to a number of conditions, including TSX Venture Exchange
acceptance and New Zealand
regulatory approval. There can be no assurance that the Acquisition
will be completed as proposed or at all.
The TSX Venture Exchange has in no way passed
upon the merits of the proposed Acquisition and has neither
approved nor disapproved the contents of this press
release.
Neither 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.
Cautionary Note Regarding Forward-Looking
Statements:
Statements contained in this news release
that are not historical facts are forward-looking statements that
involve various risks and uncertainty affecting the business of
Coronado and the Acquisition. Such
statements can generally, but not always, be identified by words
such as "expects", "plans", "anticipates", "intends", "estimates",
"forecasts", "schedules", "prepares", "potential" and similar
expressions, or that events or conditions "will", "would", "may",
"could" or "should" occur.
Forward-looking statements and information
concerning anticipated financial performance are based on
management's assumptions using information currently available.
Forward-looking statements in this news release include
Coronado's expectations regarding
the ability to complete, and the anticipated timing of, the
Acquisition.
In making the forward-looking statements in
this news release, Coronado has
applied certain factors and assumptions that are based on
information currently available to Coronado as well as Coronado's current beliefs and assumptions
made by Coronado, including that
Coronado will be able to complete
the Acquisition and that all requisite approvals will be
obtained. Although Coronado
considers these beliefs and assumptions to be reasonable based on
information currently available to it, they may prove to be
incorrect, and the forward-looking statements in this release are
subject to numerous risks, uncertainties and other factors that may
cause future results to differ materially from those expressed or
implied in such forward-looking statements. Such risk factors
include, among others, that regulators do not approve the
Acquisition or that OHL's operations do not continue at their
current levels. Although Coronado
has attempted to identify important factors that could cause actual
results to differ materially from those contained in
forward-looking information, there may be other factors that cause
results not to be as anticipated, estimated or intended. There can
be no assurance that such information will prove to be accurate, as
actual results and future events could differ materially from those
anticipated in such statements. Accordingly, readers should not
place undue reliance on forward-looking information. Coronado does not undertake to update any
forward-looking information, except in accordance with applicable
securities laws.
SOURCE CORONADO RESOURCES
LTD.