News Feed Item

Waterton Announces Extension of Offer to Chaparral Shareholders

  • Waterton extends bid deadline to May 7, 2014
  • Waterton responds to Chaparral's corporate update issued April 17, 2014
  • Waterton to review Chaparral's potential liability for contamination

TORONTO, April 21, 2014 /CNW/ - Waterton Precious Metals Fund II Cayman, LP ("Waterton") announced today that the cash offer by Waterton Precious Metals Bid Corp. (the "Offer") to acquire all of the outstanding common shares of Chaparral Gold Corp. ("Chaparral") not already held by it and its affiliates has been extended until 5:00 p.m. (Toronto time) on May 7, 2014 (the "Extension Date").  Chaparral shareholders who tender to the Offer will be entitled to receive $0.50 in cash per share. All other conditions remain unchanged.

In a corporate update issued April 17, 2014 (the "Corporate Update"), Chaparral disclosed that the United States Environmental Protection Agency (the "EPA") recently requested a meeting with Metallic Ventures (U.S.) Inc. ("Metallic"), Chaparral's wholly-owned indirect subsidiary, to discuss Metallic's potential responsibility for contamination at historical smelter sites near the Town of Eureka, Nevada (the "Potential Liability").  In light of the EPA's request as disclosed in the Corporate Update, and prior to the Extension Date, Waterton will attempt to independently verify from available public information the scope of any Potential Liability by investigating the following matters (without limitation):

  • The specific nature of the correspondence received by Metallic from the EPA and if the EPA is investigating Metallic's potential liability under the Comprehensive Environmental Response, Compensation and Liability Act;
  • Whether, other than Metallic, any other Chaparral subsidiaries currently own or operate any properties or facilities near or in the Town of Eureka, Nevada;
  • Details of the various historical transactions that resulted in Metallic acquiring the Richmond-Eureka Mining Company;
  • To the extent possible, Chaparral's strategy for engaging with the EPA regarding the Potential Liability; and,
  • The timeline for the EPA meeting cited in Chaparral's Corporate Update.

A Notice of Extension has been filed with the Canadian securities regulators and will be available for review at www.sedar.com. The Notice of Extension is also being mailed to Chaparral shareholders in accordance with the applicable Canadian securities laws.

Waterton encourages shareholders of Chaparral and other interested parties to read the Offer and take-over bid circular and other materials relating to the Offer that have been filed by Waterton with the securities regulatory authorities in Canada and which are available at www.sedar.com, as they contain important information. These materials may also be obtained without charge from Kingsdale Shareholder Services, the depositary and information agent for the Offer, by contacting them at 1-877-659-1818 (North American Toll Free Number) or 1-416-867-2272 (call collect outside North America). For assistance in depositing Chaparral shares to the Offer, Chaparral shareholders should contact Kingsdale Shareholder Services, the depositary and information agent for the Offer, at 1-877-659-1818 (North American Toll Free Number) or 1-416-867-2272 (call collect outside North America).  Investors can also email [email protected].

Important Notice

This press release does not constitute an offer to buy or the solicitation of an offer to sell any of the securities of Chaparral. This news release is not a substitute for these offer documents. The Offer has been made in the United States in compliance with Section 14(e) of, and Regulation 14E under, the U.S. Securities Exchange Act of 1934, as amended and otherwise in accordance with the requirements of Canadian law. Accordingly, the Offer is subject to disclosure and other procedural requirements, including with respect to the timetable and settlement procedures that are different from those applicable under U.S. domestic tender offer procedures and laws.

About Waterton

Waterton is a leading mining-focused private equity fund dedicated to developing high quality precious metals projects located in stable jurisdictions. Waterton's cross-functional, fully-integrated, in-house team of professionals have significant mining, financial and legal expertise. Waterton's proactive approach to asset management, significant sector knowledge and ability to leverage extensive industry relationships has resulted in a strong track record of managing investments in the precious metals sector.

If you have any questions, or need assistance in depositing your Shares in Canada, please contact Kingsdale Shareholder Services, the Depositary and Information Agent for the Offer:

Kingsdale Shareholder Services
North American Toll Free Telephone: 1‑877‑659‑1818
Outside North America Call Collect: 1‑416‑867‑2272
Email: [email protected]

Media Inquiries: Riyaz Lalani, Bayfield Strategy, Inc., 416-907-9365, [email protected], www.bayfieldstrategy.com

Forward-Looking Statements

Certain statements in the press release are forward-looking information and forward-looking statements within the meaning of applicable securities laws (collectively, "forward-looking statements") which are prospective in nature.  Forward looking statements are not based on historical facts, but rather on current expectations and projections about future events, and are therefore subject to risks and uncertainties which could cause actual results to differ materially from the future results expressed or implied by the forward looking statements. These statements generally can be identified by the use of forward looking words such as "may", "should", "will", "could", "intend", "estimate", "plan", "anticipate", "expect", "believe" or "continue", or the negative thereof or similar variations. Many factors could cause the actual results, performance or achievements to differ materially from those expressed or implied by the forward-looking statements, including, without limitation, general business and economic conditions globally or in particular geographic regions in which Chaparral conducts business, the failure to meet certain conditions of the Offer, legislative and regulatory changes or actions, claims asserted against Waterton or its affiliates, competition, liquidity risk, changes in capital or securities markets and interest rate and foreign currency fluctuations.  Such forward looking statements should therefore be construed in light of such factors, and Waterton is not under any obligation, and expressly disclaims any intention or obligation, to update or revise any forward looking statements, whether as a result of new information, future events or otherwise.

SOURCE Waterton Precious Metals Fund II Cayman, LP

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
There is a huge demand for responsive, real-time mobile and web experiences, but current architectural patterns do not easily accommodate applications that respond to events in real time. Common solutions using message queues or HTTP long-polling quickly lead to resiliency, scalability and development velocity challenges. In his session at 21st Cloud Expo, Ryland Degnan, a Senior Software Engineer on the Netflix Edge Platform team, will discuss how by leveraging a reactive stream-based protocol,...
DXWorldEXPO LLC announced today that Kevin Jackson joined the faculty of CloudEXPO's "10-Year Anniversary Event" which will take place on November 11-13, 2018 in New York City. Kevin L. Jackson is a globally recognized cloud computing expert and Founder/Author of the award winning "Cloud Musings" blog. Mr. Jackson has also been recognized as a "Top 100 Cybersecurity Influencer and Brand" by Onalytica (2015), a Huffington Post "Top 100 Cloud Computing Experts on Twitter" (2013) and a "Top 50 C...
Enterprises have taken advantage of IoT to achieve important revenue and cost advantages. What is less apparent is how incumbent enterprises operating at scale have, following success with IoT, built analytic, operations management and software development capabilities - ranging from autonomous vehicles to manageable robotics installations. They have embraced these capabilities as if they were Silicon Valley startups.
Daniel Jones is CTO of EngineerBetter, helping enterprises deliver value faster. Previously he was an IT consultant, indie video games developer, head of web development in the finance sector, and an award-winning martial artist. Continuous Delivery makes it possible to exploit findings of cognitive psychology and neuroscience to increase the productivity and happiness of our teams.
The standardization of container runtimes and images has sparked the creation of an almost overwhelming number of new open source projects that build on and otherwise work with these specifications. Of course, there's Kubernetes, which orchestrates and manages collections of containers. It was one of the first and best-known examples of projects that make containers truly useful for production use. However, more recently, the container ecosystem has truly exploded. A service mesh like Istio addr...
As DevOps methodologies expand their reach across the enterprise, organizations face the daunting challenge of adapting related cloud strategies to ensure optimal alignment, from managing complexity to ensuring proper governance. How can culture, automation, legacy apps and even budget be reexamined to enable this ongoing shift within the modern software factory? In her Day 2 Keynote at @DevOpsSummit at 21st Cloud Expo, Aruna Ravichandran, VP, DevOps Solutions Marketing, CA Technologies, was jo...
Predicting the future has never been more challenging - not because of the lack of data but because of the flood of ungoverned and risk laden information. Microsoft states that 2.5 exabytes of data are created every day. Expectations and reliance on data are being pushed to the limits, as demands around hybrid options continue to grow.
Poor data quality and analytics drive down business value. In fact, Gartner estimated that the average financial impact of poor data quality on organizations is $9.7 million per year. But bad data is much more than a cost center. By eroding trust in information, analytics and the business decisions based on these, it is a serious impediment to digital transformation.
Business professionals no longer wonder if they'll migrate to the cloud; it's now a matter of when. The cloud environment has proved to be a major force in transitioning to an agile business model that enables quick decisions and fast implementation that solidify customer relationships. And when the cloud is combined with the power of cognitive computing, it drives innovation and transformation that achieves astounding competitive advantage.
As IoT continues to increase momentum, so does the associated risk. Secure Device Lifecycle Management (DLM) is ranked as one of the most important technology areas of IoT. Driving this trend is the realization that secure support for IoT devices provides companies the ability to deliver high-quality, reliable, secure offerings faster, create new revenue streams, and reduce support costs, all while building a competitive advantage in their markets. In this session, we will use customer use cases...
Digital Transformation: Preparing Cloud & IoT Security for the Age of Artificial Intelligence. As automation and artificial intelligence (AI) power solution development and delivery, many businesses need to build backend cloud capabilities. Well-poised organizations, marketing smart devices with AI and BlockChain capabilities prepare to refine compliance and regulatory capabilities in 2018. Volumes of health, financial, technical and privacy data, along with tightening compliance requirements by...
"NetApp is known as a data management leader but we do a lot more than just data management on-prem with the data centers of our customers. We're also big in the hybrid cloud," explained Wes Talbert, Principal Architect at NetApp, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
Andrew Keys is Co-Founder of ConsenSys Enterprise. He comes to ConsenSys Enterprise with capital markets, technology and entrepreneurial experience. Previously, he worked for UBS investment bank in equities analysis. Later, he was responsible for the creation and distribution of life settlement products to hedge funds and investment banks. After, he co-founded a revenue cycle management company where he learned about Bitcoin and eventually Ethereal. Andrew's role at ConsenSys Enterprise is a mul...
Evan Kirstel is an internationally recognized thought leader and social media influencer in IoT (#1 in 2017), Cloud, Data Security (2016), Health Tech (#9 in 2017), Digital Health (#6 in 2016), B2B Marketing (#5 in 2015), AI, Smart Home, Digital (2017), IIoT (#1 in 2017) and Telecom/Wireless/5G. His connections are a "Who's Who" in these technologies, He is in the top 10 most mentioned/re-tweeted by CMOs and CIOs (2016) and have been recently named 5th most influential B2B marketeer in the US. H...
The best way to leverage your Cloud Expo presence as a sponsor and exhibitor is to plan your news announcements around our events. The press covering Cloud Expo and @ThingsExpo will have access to these releases and will amplify your news announcements. More than two dozen Cloud companies either set deals at our shows or have announced their mergers and acquisitions at Cloud Expo. Product announcements during our show provide your company with the most reach through our targeted audiences.