TORONTO, July 20, 2015 /CNW/ - NWM Mining
Corporation ("NWM" or the "Company") (TSX-V:
NWM) announces that that it has received today a final order
from the Ontario Superior Court of Justice (Commercial List)
approving the proposed arrangement (the "Arrangement") among NWM,
GFM Minería, S.A.P.I. de C.V. ("GFMM"), and one of its
affiliates, and the Company's lender, Global Resource Fund
("Global") previously announced on June 8, 2015.
Under the Arrangement, GFMM will acquire, for cash, all of the
issued and outstanding common shares of NWM ("NWM Shares")
for cash consideration of C$0.005 per
NWM Share.
Completion of the Arrangement remains subject to the
satisfaction or waiver of all remaining conditions precedent, all
of which are proceeding. NWM will continue to provide updates as
the Arrangement advances towards completion.
About NWM Mining Corporation:
NWM is in commercial gold production at its wholly owned
Lluvia-Jojoba gold mine. The mine is an open pit heap leach
operation in Sonora State, Mexico.
Additional information about NWM can be found on the NWM website
at www.nwmmining.ca or on SEDAR at www.sedar.com.
On behalf of Management and the Board:
"Darren Koningen", President and
CEO
"Mark Selby", Chairman
Cautionary Note Regarding Forward Looking Information
Certain information set forth in this press release contains
"forward-looking statements", and "forward-looking information
under applicable securities laws. Except for statements of
historical fact, certain information contained herein constitutes
forward-looking statements, which include the Company's
expectations about the completion of the Arrangement, and are based
on the Company's current internal expectations, estimates,
projections, assumptions and beliefs, which may prove to be
incorrect. Some of the forward-looking statements may be identified
by words such as "will", "expects", "anticipates", "believes",
"projects", "plans", and similar expressions. These statements are
not guarantees of future performance and undue reliance should not
be placed on them. Such forward-looking statements necessarily
involve known and unknown risks and uncertainties, which may cause
the Company's actual performance and financial results in future
periods to differ materially from any projections of future
performance or results expressed or implied by such forward-looking
statements. These risks and uncertainties include, but are not
limited to: the successful completion of the Arrangement and an
inability to satisfy the conditions required to complete the
Arrangement; the timing and receipt of certain approvals and
unanticipated events related to political risk, social unrest, and
changes in general economic conditions or conditions in the
financial markets; liabilities inherent in mine development and
production; geological, mining and processing technical problems;
mine permits and regulatory approvals required in connection with
mining and mineral processing operations; competition for, among
other things, capital, acquisitions of reserves, undeveloped lands
and skilled personnel; incorrect assessments of the value of
acquisitions; changes in commodity prices and exchange rates;
currency and interest rate fluctuations; various events that could
disrupt operations and/or the transportation of mineral products,
including labour stoppages and severe weather conditions; the
demand for and availability of rail, port and other transportation
services; the ability to secure adequate financing, and
management's ability to anticipate and manage the foregoing factors
and risks. There can be no assurance that forward-looking
statements will prove to be accurate, and actual results and future
events could differ materially from those anticipated in such
statements. The Company undertakes no obligation to update
forward-looking statements if circumstances or management's
estimates or opinions should change except as required by
applicable securities laws.
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 of
this press release.
SOURCE NWM Mining Corporation