News & Press Releases
Batero Acquires All CB Gold Common Shares Deposited to the Batero Offer and Now Owns 39% of CB Gold
Toronto, Ontario, October 6, 2015
Batero Gold Corp. ("Batero" or the "Company") (TSX VENTURE:BAT) is pleased to announce that it has taken-up all the common shares (the "CBJ Common Shares") of CB Gold Inc. ("CB Gold") that were validly deposited to its offer to acquire all CBJ Common Shares (the "Batero Offer") as at 4:00 p.m. yesterday, the expiry time of the Batero Offer. As of today, Batero owns 69,934,026 CBJ Common Shares representing approximately 39% of all of the outstanding CBJ Common Shares. The Batero Offer was not extended and therefore has expired.
🎯 Acquisition Complete
- Total CB Gold shares owned: 69,934,026
- Ownership percentage: 39%
- Batero Offer status: EXPIRED (closed successfully)
- All deposited shares: ACQUIRED
Completion of Acquisition
Batero wishes to thank CB Gold shareholders who tendered to the Batero Offer for their support throughout the bid process and for tendering their CBJ Common Shares to Batero's superior offer. Batero remains focused on unlocking the value of the Vetas project and is keen to participate in future financings to help fast track development.
Next Steps
With 39% ownership of CB Gold, Batero is now positioned as a major shareholder committed to:
- Unlocking the value of the Vetas project
- Participating in future financings
- Fast tracking development of the project
- Leveraging expertise from Consorcio Minero Horizonte
About Batero
Batero is a precious and base metals exploration and development company focused on moving the La Cumbre oxide deposit toward a production decision. Once the appropriate level of study has been completed, Batero intends to target the near surface higher grade oxidized gold mineralization at the deposit. Batero is also pursuing opportunities to acquire prospective high-grade, production focused mineral properties in Colombia and Latin America. In pursuing these objectives, Batero plans to leverage its secure treasury position, strong regional relationships, experienced management team, and long-term financial partners. Common shares of the Vancouver-based company trade on the TSXV under the symbol "BAT".
Forward-Looking Statements
This news release includes forward-looking statements that are subject to risks and uncertainties. All statements within, other than statements of historical fact, are to be considered forward looking. Although Batero believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements.
Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions. Forward-looking statements are subject to various known and unknown risks, uncertainties and other factors including risks relating to the completion of the transactions described herein, risks relating to property interests, the global economic climate, metal prices, dilution, environmental risks and non-governmental actions.
This news release does not constitute an offer to sell or a solicitation of an offer to sell any securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended, or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered or an exemption from such registration is available.
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.