To view the PDF file, sign up for a MySharenet subscription.

DELRAND RESOURCES LIMITED - Press Release - Delrand Provides Corporate Update

Release Date: 01/09/2016 14:56
Code(s): DRN     PDF:  
Wrap Text
Press Release - Delrand Provides Corporate Update

Delrand Resources Limited
(Incorporated in Canada)
(Corporation number 627115-4)
Share code: DRN ISIN Number: CA2472672062
(“Delrand” or the "Company")


Toronto, Canada – August 31, 2016 – Delrand Resources Limited (the “Company”) (NEX: DRN.H;
JSE: DRN) announces that it has applied for the removal, without an offer, of its common shares
(the “delisting”) from the Johannesburg Stock Exchange (the “JSE”). The Company decided to
take this action after concluding that the disadvantages of maintaining its listing on the JSE
(including the additional costs and regulation associated with maintaining the listing)
outweighed the benefits to the Company and its shareholders. The Company will announce
further details of the delisting including the salient dates for the delisting following receipt of all
required approvals, the last of which approvals is expected to be received shortly. The listing of
the Company’s common shares on NEX will not be impacted by the delisting from the JSE.

The Company also announces that, further to its June 13, 2016 press release, it has closed a non-
brokered private placement of 300,000 common shares of the Company at a price of Cdn$0.40
per share for gross proceeds of Cdn$120,000 (the “Offering”). The Company intends to use the
proceeds from the Offering for general corporate purposes. All shares issued in connection with
the Offering will be subject to a hold period of four months plus a day from the date of issuance
and the resale requirements of applicable securities regulation, and will not be listed on the JSE
as a result of the imminent delisting.

This press release does not constitute an offer to sell or a solicitation of an offer to buy nor shall
there be any sale of any of the securities in any jurisdiction in which such offer, solicitation or sale
would be unlawful. The securities have not been and will not be registered under the United
States Securities Act of 1933, as amended (the “U.S. Securities Act”), or the securities laws of any
state of the United States and may not be offered or sold within the United States (as defined in
Regulation S under the U.S. Securities Act) unless registered under the U.S. Securities Act and
applicable state securities laws or pursuant to an exemption from such registration requirements.

Forward-Looking Information: This press release contains forward-looking information. All
statements, other than statements of historical fact, that address activities, events or
developments that the Company believes, expects or anticipates will or may occur in the future
(including, without limitation, statements regarding the expected delisting from the JSE) are
forward-looking information. This forward-looking information reflects the current expectations or
beliefs of the Company based on information currently available to the Company. Forward-
looking information is subject to a number of risks and uncertainties that may cause the actual
results of the Company to differ materially from those discussed in the forward-looking
information, and even if such actual results are realized or substantially realized, there can be no
assurance that they will have the expected consequences to, or effects on the Company.
Factors that could cause actual results or events to differ materially from current expectations
include, among other things, failure to carry out the delisting from the JSE.

Forward-looking information speaks only as of the date on which it is provided and, except as
may be required by applicable securities laws, the Company disclaims any intent or obligation to
update any forward-looking information, whether as a result of new information, future events or
results or otherwise. Although the Company believes that the assumptions inherent in the
forward-looking information are reasonable, forward-looking information is not a guarantee of
future performance and accordingly undue reliance should not be put on such information due
to the inherent uncertainty therein.

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 release.

Not for distribution to U.S. newswire services or for dissemination in the United States. Any failure
to comply with this restriction may constitute a violation of U.S. securities laws.

For further information, please contact:
Arnold T. Kondrat, CEO, (416) 366-2221 or 1-800-714-7938.

1 September 2016

Arbor Capital Sponsors Proprietary Limited


Date: 01/09/2016 02:56:00 Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
 the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, 
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
 information disseminated through SENS.

Email this JSE Sens Item to a Friend.

Share This Story