Northair Silver Files Information Circular in Connection with Special Meeting of Shareholders to Consider Business Combination with Kootenay
Northair Silver Corp. (TSXV: INM) (the "Company" or "Northair") is pleased to announce that it has filed its management information circular (the "Circular") and related proxy materials on SEDAR in advance of the Company's special meeting of shareholders to be held on April 14, 2016 to seek approval of the proposed plan of arrangement (the "Arrangement") with Kootenay Silver Inc. ("Kootenay").
As previously announced on February 8, 2016, Northair and Kootenay have entered into an Arrangement Agreement pursuant to which Kootenay has agreed to acquire all of the issued and outstanding common shares of Northair. The Arrangement is intended to create a leading Mexican silver exploration and development company and consolidator.
Northair shareholders of record on March 7, 2016 will receive notice of and be entitled to vote at the special meeting, and are encouraged to read the Circular as it provides important information about Northair, Kootenay, and the Arrangement.
Benefits of the Arrangement include:
- Immediate and significant premium to Northair Shareholders;
- Creation of a prominent Mexican silver exploration and development company;
- Advanced portfolio of assets including Northair's La Cigarra and Kootenay's Promontorio and La Negra projects;
- Continued exploration potential and resource upside;
- Prospect generator portfolio with four active joint ventures in place;
- A platform for future consolidation;
- Strong balance sheet;
- Increased liquidity;
- Proven management team and combined company board; and
- Enhanced capital markets exposure and access to capital.
The Northair special meeting of shareholders is scheduled to be held at Suite 950 - 609 Granville Street, Vancouver, British Columbia, on April 14, 2016 at 10:00 AM (Pacific Daylight Time).
Your vote is important regardless of the number of securities you own. Northair encourages shareholders to read the Circular and accompanying meeting materials in detail. A copy of the Circular is now available on Northair's website athttp://www.kootenaysilver.com/i/pdf/northair/NorthairInfoCircular.html and is also available under Northair's profile on SEDAR at www.sedar.com
YOUR VOTE IS IMPORTANT. VOTE TODAY.
NORTHAIR'S BOARD OF DIRECTORS RECOMMEND THAT SHAREHOLDERS VOTE IN FAVOUR OF THE ARRANGEMENT.
HOW TO VOTE
In the interest of time, shareholders are encouraged to vote via the internet, by telephone or fax.
Registered shareholders may vote as follows:
- Internet: Vote online at www.investorvote.com, using the control number located on your proxy (which you will receive in the mail or via email)
- Telephone: Call 1-866-732-VOTE (8683) toll free
- Facsimile: 1-866-249-7775 (toll free in Canada and US)
- By mail
- In person at the meeting
Shareholders who have questions regarding the Arrangement or require assistance with voting may contact the Proxy Solicitation Agent below:
Laurel Hill Advisory Group
Toll free at 1-877-452-7184
International +1 416-304-0211 outside Canada and the US
By email at: email@example.com
Northair Silver Corp.
By phone 604-687-7545
By email at: firstname.lastname@example.org
About Northair Silver Corp.
Northair is focused on advancing its flagship La Cigarra silver project located in the state of Chihuahua, Mexico, 26 kilometres from the historic silver mining city of Parral. The property boasts nearby power, good road access, gentle topography, established infrastructure and currently hosts a NI 43-101 Resource estimate of 51.47 million ounces of silver in the Measured & Indicated categories grading 86.3 g/t silver and 11.46 million ounces of silver in the Inferred category grading 80 g/t silver. The mineralized system at La Cigarra has been traced over 6.5 kilometres and is defined at surface as a silver soil anomaly and by numerous historic mine workings. The La Cigarra silver deposit is open along strike and at depth and is approximately 25km north, and along strike of Grupo Mexico's Santa Barbara mine and Minera Frisco's San Francisco del Oro mine.
ON BEHALF OF THE BOARD,
NORTHAIR SILVER CORP.
Andrea Zaradic, P. Eng.
President & CEO
Neither 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 or accuracy of this news release.
Caution Concerning Forward-Looking Statements
This news release may contain forward looking statements which are statements that are not statements of historical fact, such as statements regarding the mineral resource estimates, results of the sensitivity analysis, anticipated production or results, sales, revenues, costs, or discussions of goals and exploration results, and involve a number of risks and uncertainties that could cause actual results to differ materially from those projected. These risks and uncertainties include, but are not limited to, metal price volatility, volatility of metals production, project development, mineral reserve estimates, future anticipated reserves and cost engineering estimate risks, geological factors and exploration results. See Northair's filings for a more detailed discussion of factors that may impact expected results.
Cautionary Note Concerning Estimates of Measured, Indicated and Inferred Mineral Resources
This news release uses the terms "Measured and Indicated Resources" and "Inferred Resources", which have a great amount of uncertainty as to their existence, and great uncertainty as to their economic feasibility. It cannot be assumed that all or any part of a Measured and Indicated and/or Inferred Mineral Resource will ever be upgraded to a higher category. Under Canadian rules, estimates of Inferred Resources may not form the basis of feasibility or other economic studies. Northair advises U.S. investors that while this term is recognized and required by Canadian regulations, the U.S. Securities and Exchange Commission does not recognize it. U.S. investors are cautioned not to assume that part or all of a Measured, Indicated and Inferred resource exists, or is economically or legally minable.