Blackhawk Mines Corp. announces the acquisition of Amazon Gold Ventures Inc
The Blackhawk Mines Corporation B06N. announces the acquisition of Amazon Gold Ventures Inc.
- (1888PressRelease) March 09, 2012 - Panama City, Panama - Blackhawk Mines Corp. ("Blackhawk") announced today that it has acquired all the assets and business operations of Amazon Gold Ventures Inc. ("Amazon"). The current South American mining operations of Amazon will continue under the Blackhawk name and will be managed by existing personnel and managing partners based in Antioquia, Colombia and Panama City.
Blackhawk Mines Corp. is a public company listed on the Frankfurt Stock Exchange, Open Market trading under the ticker symbol: B06N. As part of the acquisition agreement, existing shareholders of Amazon will be entitled to exchange their shares of Amazon for shares of Blackhawk on a one for one basis. The name Blackhawk Mines Corp. will be retained as the new group name and trading of Blackhawk shares will continue on the Frankfurt Stock Exchange, First Quotation Board under the current ticker symbol: B06N.
Recently, the Frankfurt Stock Exchange has proposed certain changes to the Open Market trading segment which will mean that Blackhawk will be applying to trade on the Frankfurt Stock Exchange's higher platform the "Entry Standard" later in this year. The proposed changes to the Open Market are an attempt to increase liquidity, transparency and public disclosure in German public capital markets.
The management of Blackhawk is in full agreement with the proposed changes that the Frankfurt Stock Exchange is implementing and looks forward to meeting full compliance with all future listing requirements brought in by the Exchange. In addition, Blackhawk shall be seeking secondary listings of its shares on other exchanges and trading venues in order to increase market presence and liquidity for its shareholders.
The merger of these two companies signifies greater resources and expertise as now Blackhawk will be able to draw on all the experience that the combined team members and joint venture partners have. Ina addition, the two corporations effectively combined together will also bring increased value and benefit to the shareholders of both companies.
The exposure to operational mines in South America and exploration in California follows the trend that most financial experts are promoting; own as much Gold as possible. With prices currently in excess of $1700 an Oz, being a gold mining and exploration company has never been so profitable.
Amazon has been focused on Colombia with its flagship Las Palmeras Project in Segovia, Antioquia adjacent to the Frontino Gold Belt reserve. Las Palmeras is an active operation including a gold processing stamp mill and has total reserves estimated at over $180,000,000 USD. The Company's operating partner based in Envigado, Department of Antioquia, has strong, established legal and political alliances that enable excellent cooperation with such key entities as the Colombian Ministry of Mines and Energy.
Disclaimer & Safe Harbour Statement:
This release may contain certain "forward-looking statements" with respect to certain of Blackhawk Mines Corp. 's plans, goals and expectations regarding its future financial condition, performance, results, strategy and objectives. Words such as "anticipates", "expects", "intends", "plans", "believes", "seeks", "estimates", "may", "could", "would", "might", "will" and variations of these words or similar expressions are intended to identify forward-looking statements. In addition, any statements that refer to expectations, beliefs, plans, projections, objections, performance or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. Forward-looking statements in this press release are not promises or guarantees of future performance and are subject to risks and uncertainties that could cause Blackhawk Mines Corp.'s actual results to differ materially from those anticipated. Blackhawk Mines Corp. cautions the reader not to place undue reliance upon any such forward-looking statements. These forward-looking statements involve known and unknown risks as well as uncertainties, including those discussed herein as well as the following: (i) domestic and global economic and business conditions; (ii) market related risks and the performance of financial markets generally; (iii) the policies and actions of regulatory authorities; (iv) the impact of competitive factors; (v) risks and uncertainties associated with future acquisitions or combinations within relevant industries; and (vi) changes in capital, solvency or accounting standards as well as tax and other relevant legislation or regulations in the jurisdictions in which Blackhawk Mines Corp. operates. The actual results that Blackhawk Mines Corp. achieves may differ materially from any forward-looking statements which are based on management's beliefs and opinions at the time the statements are made. Blackhawk Mines Corp. does not undertake any obligation to update forward-looking statements should circumstances or management's beliefs or opinions change.
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