By Market Wire, October 21, 2013, 08:03:00 PM EDT
VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 10/22/13 --
Messina Minerals Inc. (TSX VENTURE:MMI) ("Messina") announces an update on progress towards completion of a plan of arrangement (the "Arrangement") whereby Canadian Zinc Corporation ("Canadian Zinc") will acquire all of the outstanding shares of Messina in exchange for common shares of Canadian Zinc on the terms previously announced (see News Release September 12, 2013).
Messina and Canadian Zinc have now entered into a definitive Arrangement Agreement dated October 21, 2013. The date for Messina's Special Meeting allowing Messina shareholders to vote on the Arrangement has now been scheduled for December 16, 2013 to be held at Messina's offices in Vancouver. Full details of the meeting and the Arrangement will be included in the notice of meeting and information circular, which are expected to be sent to shareholders and filed on SEDAR in mid-November. Completion of the Arrangement is subject to approval by Messina shareholders, regulatory and court approvals, and other customary closing conditions.
The Messina Board of Directors has determined that the Arrangement is in the best interest of Messina and is fair to the Messina shareholders, and intends to recommend in the information circular that Messina shareholders vote in favour of the Arrangement. The Board's determinations are based, among other things, on the advice of a chartered business valuator, which has provided an opinion that the Arrangement is fair, from a financial point of view, to the securityholders of Messina. Details of such fairness opinion will also be included in the information circular.
About Messina Minerals Inc.
Messina Minerals Inc. is a Canadian mineral exploration company listed on the TSX Venture Exchange under the symbol "MMI". The Company has completed NI 43-101 technical reports for zinc-lead-copper-silver-gold mineral resources at "Boomerang", "Domino", and "Main Zone" located in central Newfoundland, Canada.
On Behalf of the Board,
Messina Minerals Inc.
Peter Tallman, President, Director
Neither the 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.
Messina Minerals Inc.
(604) 629-7971 (FAX)
Source: Messina Minerals Inc.