16:38:03 EDT Thu 28 Mar 2024
Enter Symbol
or Name
USA
CA



Chaparral Gold Corp
Symbol CHL
Shares Issued 117,636,376
Close 2014-04-17 C$ 0.70
Market Cap C$ 82,345,463
Recent Sedar Documents

Chaparral Gold completes Waterton settlement

2014-04-17 20:10 ET - News Release

Mr. Nick Appleyard reports

CHAPARRAL GOLD CORPORATE UPDATE

The British Columbia Securities Commission has granted a cease trade order cancelling Chaparral Gold Corp.'s shareholder rights plan. This now completes the settlement reached between Chaparral and Waterton Precious Metals Fund II Cayman LP. For more information see Chaparral press releases dated April 8 and 14, 2014.

Waterton has agreed not take up or pay for any shares tendered under its hostile bid and will not purchase, either directly or indirectly (or jointly or in concert with any other person), any shares of Chaparral prior to 2 p.m. (Toronto time) on April 22, 2014. Waterton's offer price of 50 cents per share and all other conditions under the hostile bid remain unchanged.

There is no change in the board's recommendation that shareholders reject the hostile bid by Waterton and do not tender their common shares.

Eureka smelter sites

The company previously disclosed in its annual public disclosure documents for the year ended Dec. 31, 2013, certain correspondence received by the company's wholly owned indirect subsidiary, Metallic Ventures (U.S.) Inc., from the United States Environmental Protection Agency related to contamination at historical smelter sites from the late 1800s near the town of Eureka in central Nevada. The EPA has recently requested a meeting with Metallic to further discuss Metallic's potential responsibility in this matter.

Metallic does not own and has never operated the sites under investigation, and its current involvement is determined by the EPA to be as the corporate successor of the Richmond-Eureka Mining Company formed in 1905, which may itself have been a corporate successor to former owners and operators. Metallic has not accepted any responsibility with respect to this issue and continues to thoroughly evaluate the EPA's position with respect to Metallic's involvement.

To date, the EPA has not indicated that Metallic has any liability with respect to this matter nor has the EPA made any demand for compensation from Metallic. At the present time, it is impossible to ascertain if Metallic has, or may have, any responsibility for assisting in the remediation of the sites.

We seek Safe Harbor.

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