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Anaconda Mining Withdraws Offer to Maritime Shareholders

 

 

 

 

 

Anaconda Mining Inc. (TSX:ANX) (OTCQX: ANXGF) announces today the withdrawal of its previously announced premium take-over bid to acquire all the issued and outstanding shares of Maritime Resources Corp. (TSX-V:MAE). Anaconda will not take up any of the Maritime shares tendered in connection with the Offer. 

 

 

With the recently completed private placement, Maritime shareholders made it clear that they stood with management and wanted to pursue a stand-alone strategy to advance the Hammerdown Project. Anaconda continues to believe that its Offer was compelling and provided shareholders immediate appreciation in their Maritime shares. In addition, over the long term, Anaconda could have created more value for Maritime shareholders through the combination of the two companies’ assets than what Maritime could have done on its own. Now that Maritime is behind us, we will focus on other opportunities we have in Atlantic Canada to grow our business.”

~ Dustin Angelo, President and CEO, Anaconda Mining Inc.

 

 

NOTICE TO MARITIME SHAREHOLDERS IN THE UNITED STATES

 

 

The Offer was made for the securities of a foreign company. The Offer was subject to disclosure requirements of a foreign country that are different from those of the United States. Financial statements included in, or incorporated by reference into, the Offer to Purchase and Circular of Anaconda to Maritime shareholders filed on SEDAR at www.sedar.com on April 13, 2018, if any, were prepared in accordance with foreign accounting standards that may not be comparable to the financial statements of United States companies.

 

 

It may be difficult for you to enforce your rights and any claim you may have arising under the federal securities laws, since Anaconda is located in a foreign country, and some or all of its officers and directors may be residents of a foreign country. You may not be able to sue a foreign company or its officers or directors in a foreign court for violations of the U.S. securities laws. It may be difficult to compel a foreign company and its affiliates to subject themselves to a U.S. court’s judgment.

 

 

You should be aware that Anaconda may purchase securities of Maritime at their discretion in open market or privately negotiated purchases.

 

 

ABOUT ANACONDA MINING INC.

 

 

Anaconda is a TSX-listed gold mining, development, and exploration company, focused in the prospective Atlantic Canadian jurisdictions of Newfoundland and Nova Scotia. The Company operates the Point Rousse Project located in the Baie Verte Mining District in Newfoundland, comprised of the Stog’er Tight Mine, the Pine Cove open pit mine, the Argyle Mineral Resource, the fully-permitted Pine Cove Mill and tailings facility, deep water port, and approximately 5,800 hectares of prospective gold-bearing property. Anaconda is also developing the Goldboro Project in Nova Scotia, a high-grade Mineral Resource, with the potential to leverage existing infrastructure at the Company’s Point Rousse Project.

 

 

The Company also has a pipeline of organic growth opportunities, including the Great Northern Project on the Northern Peninsula of Newfoundland and the Tilt Cove Property on the Baie Verte Peninsula, also in Newfoundland.

 

Posted July 12, 2018

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