VANCOUVER,
Sept. 27, 2013 /CNW/ - Coronado
Resources Ltd. (TSX-V: CRD) and (OTCQX: CRDAF)
("Coronado") is pleased to announce that it has completed its
change of business acquisition previously announced on May 14, 2013 (the "Acquisition"). Pursuant to the
Acquisition, Coronado indirectly
acquired all of the outstanding common shares of Opunake Hydro
Limited ("OHL") from TAG Oil Ltd. ("TAG") and Opunake Hydro
Holdings Limited ("OHHL") in exchange for the issuance of
13,015,410 common shares of Coronado (the "Coronado Shares") to TAG
and 1,446,157 Coronado Shares to OHHL. The Coronado Shares issued
to TAG and OHHL represent an aggregate purchase price of
$5,584,000, based on the volume
weighted average closing price of the Coronado Shares on the TSX
Venture Exchange for the twenty consecutive trading days ending
May 10, 2013. As a result of the
Acquisition, TAG now owns 49.18%, and TAG and OHHL, collectively,
own 51.01%, of the issued capital of Coronado.
The Acquisition received the requisite approval
from shareholders of Coronado on
August 29, 2013, and Coronado received approval from the Overseas
Investment Office of New Zealand
on September 18, 2013.
Further information regarding the 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.
The TSX Venture Exchange has in no way passed
upon the merits of the Acquisition and has neither approved nor
disapproved the contents of this press release. The Acquisition
remains subject to final TSX Venture Exchange acceptance. There can
be no assurance that the TSX Venture Exchange will approve the
Acquisition.
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. 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. 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.
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. 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.