Northcliff shareholders unanimously approved the acquisition of Geodex's stake in the Sisson project
6.06.2012, Vancouver, BC - Northcliff Resources Ltd. ("Northcliff") (TSX: NCF) - a company of the Hunter Dickinson Inc. group of companies - announces that its shareholders are on 30. At the Annual General Meeting, 2012 unanimously approved the acquisition of previously joint venture partner Geodex Minerals Ltd. ("Geodex") (TSX.V: GXM) held 30% interest in the Sisson tungsten-molybdenum project. A copy of the voting results has been posted on www.sedar.com.
According to the company's press release from the 18. April 2012 has approved Geodex to sell its 30% stake in the project located in New Brunswick, Canada. In return, Northcliff has agreed to transfer 16.003.700 common stock and 1 million $ in cash to Geodex and also to repatriate the 3.333.333 Geodex common stock that Northcliff acquired in 2010.
The effective date for the valuation or issue date of 16.003.700 Northcliff common stock to the shareholders of Geodex has been 28. June 2012 or the 4. July 2012 laid.
The acquisition is through a special resolution of the Geodex shareholders in the framework of the 18. June 2012 Extraordinary Shareholders Meeting to be held. In addition, the acquisition must be approved by the TSX and the TSX Venture Exchange Stock Exchange.
The acting board of directors of Northcliff was re-elected. In addition, Scott Cousens, who is Hunter Dickinson Inc.'s Director of Capital Markets, has been appointed to the Board.
About Northcliff
Northcliff Resources Ltd is a listed company of the Hunter Dickinson Group (HDI Group) on the TSX Venture Exchange (NCF). The HDI Group is one of North America's largest privately-owned commodities corporations. Headquartered in Vancouver, Canada, this diversified, global company has been engaged in raw material development for over 25 years and has successfully completed debt and equity financing totaling approximately 2,5 billion C $ (Canadian Dollars) and through 20 project transactions.
Northcliff Resources Ltd is one of the current eight high-growth commodity companies in the HDI Group's portfolio. The main business of Northcliff Resources Ltd is the exploration and development of promising new tungsten-molybdenum projects in New Brunswick, Canada.
For more information about Northcliff and the Sisson project, please visit the company's Web site at www.northcliffresources.com or contact the Investor Support Center at + 1 604 684-6365 or 1-800-667-2114 ( within North America).
Christopher Zahovskis
President & CEO
For more information about the company, visit
the website www.northcliffresources.com or via:
Robin Bennett, VP | Corp. Development (HDI)
Phone: +1.604.684.6365
Fax: + 1.604.684.8092
Email: [email protected]
www.hdimining.com
www.hdimining.com/de
No liability is assumed for the accuracy of the translation! Please original english message from the 04. Note June 2012!
The original English message can be found at:
http://www.irw-press.at/press_html.aspx?messageID=25307
No regulatory authority accepts responsibility for the accuracy or accuracy of this news release.
This press release contains certain statements that may be deemed "forward-looking statements". All statements in this press release, other than historical facts, relating to the successful acquisition, permits, exploration drilling, mining activities and other events or developments anticipated by the company are forward-looking statements. Although the company assumes that the expectations expressed in such forward-looking statements are based on realistic assumptions, such statements are not indicative of future performance. The actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those expressed in the forward-looking statements include, but are not limited to, uncertainties regarding shareholder support, legal approval requirements, market prices, exploration and production successes, the Continuity of mineralization, possible environmental events or liability claims in connection with exploration, development and production activities, uncertainties in relation to obtaining the necessary permits, licenses and legal claims, delays due to a lack of cooperation by third parties, changes in government policy and their impact on exploration and production of raw materials, the permanent availability of capital and finance and the general economic, market or business situation. Investors are cautioned that such statements are no guarantee of future performance and that actual results or developments may differ materially from those expressed in the forward-looking statements. Investors who would like more information on the company are referred to the company's ongoing reports at www.sedar.com.
