VANCOUVER, British Columbia, Oct. 09, 2018 (GLOBE NEWSWIRE) -- Regulus Resources Inc. ("Regulus" or the "Company") (TSX-V: REG) would like to comment on the trading halt initiated on its common shares. The TSX-V has requested a halt pending the determination of date for the distribution of the common shares of Aldebaran Resources Inc. ("Aldebaran") pursuant to the previously announced plan of arrangement involving Aldebaran, Regulus, Sibanye Gold Limited and the Regulus shareholders (the "Arrangement").
As previously announced, pursuant to the Arrangement, Regulus will spin out its Argentine assets, into a newly formed company, Aldebaran, which has applied to list its common shares on the TSX Venture Exchange ("TSX-V"), wherein each Regulus shareholder will receive one share of Aldebaran for each three shares of Regulus held. As receipt of conditional approval of the TSX-V is a condition to closing the Arrangement, the TSX-V has requested that the common shares of the Company remain halted until Aldebaran has received such conditional approval and the date of the distribution can be confirmed. The Company expects that the Aldebaran listing application will be considered at the next weekly Executive Listing Committee meeting of the TSX-V.
As previously announced on September 24, 2018, shareholders who were shareholders of record as of the close of business on September 28, 2018 will be entitled to receive Aldebaran shares under the Arrangement.
Once the TSX-V conditional approval has been received, Regulus and Aldebaran expect to close the Arrangement as expeditiously as possible.
For further information on Regulus Resources Inc. or Aldebaran Resources, please consult our website at www.regulusresources.com or contact:
Regulus Resources Inc.
John E. Black, CEO / Director
Phone: +1 303 618-7797 mobile
+1 720 514-9036 office
Investors are cautioned that, except as disclosed in the information circular prepared in connection with the Arrangement, any information released or received with respect to the Arrangement may not be accurate or complete and should not be relied upon.
The TSX-V has in no way passed upon the merits of the Arrangement and has neither approved nor disapproved of the contents of this press release.
This press release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. The use of any of the words "expect", "anticipate", "continue", "estimate", "objective", "ongoing", "may", "will", "project", "should", "believe", "plans", "intends" and similar expressions are intended to identify forward-looking statements or information. Forward-looking information in this press release includes, but is not limited to, the timing and completion of the Arrangement, the timing and receipt of TSX-V conditional approval and that the shares of Aldebaran will be accepted for listing on the TSX-V. Although Regulus believes that the expectations and assumptions on which the forward-looking statements and information are based are reasonable, undue reliance should not be placed on the forward-looking statements and information because Regulus cannot give any assurance that they will prove to be correct. Since forward-looking statements and information address future events and conditions, by their very nature they involve inherent risks and uncertainties. The forward-looking statements and information is based on certain key expectations and assumptions made by management of Regulus, including expectations and assumptions concerning: the satisfaction of all conditions to the closing of the Arrangement and on the time frames contemplated. Actual results could differ materially from those currently anticipated due to a number of factors and risks, including but not limited to: risks related to the receipt of all necessary approvals for the Arrangement, changes in national and local government regulation of mining operations, tax rules and regulations, and political and economic developments in countries in which Regulus and Aldebaran operate. Regulus and Aldebaran caution that the foregoing list of risks and uncertainties is not exhaustive.
The forward-looking statements and information contained in this press release are made as of the date hereof and Regulus and Aldebaran undertake no obligation to update publicly or revise any forward-looking statement or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.
Neither the 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.