VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 25, 2012) - Lupaka Gold Corp. ("Lupaka Gold") (TSX:LPK) and Andean American Gold Corp. ("Andean American") (TSX VENTURE:AAG) are pleased to announce that the Supreme Court of British Columbia has today granted the final order approving the previously announced plan of arrangement whereby Lupaka Gold will acquire all of the issued and outstanding common shares of Andean American.
Accordingly, as previously announced, trading of Andean American shares will be halted after market close today, September 25, 2012, and will not resume if the transaction completes. If the required stock exchange approvals are obtained and other remaining conditions to closing are satisfied, the Arrangement is anticipated to complete on or about October 1, 2012.
About Lupaka Gold
Lupaka Gold is aggressively exploring and developing the Crucero Gold Project, its 5,500 hectare gold property located in southern Peru. The Company, based in Vancouver, Canada, is project operator and holds a 100% indirect interest in the property. Since commencing active exploration in April 2010, the Company has reported NI 43-101 compliant gold resource estimate updates in the first quarter of 2011 and 2012 (see the Company's most recent technical report on sedar.com). In addition to the existing resource estimate, Lupaka Gold has identified a number of exploration targets within the Crucero Project that display similar anomalous characteristics.
Additional information on Lupaka and its Crucero project is available on Lupaka's website at www.lupakagold.com.
About Andean American
Andean American is an international mining and exploration company focused on value growth through the development of gold and copper projects in Peru. Key assets include the 31,600 hectare Invicta gold-silver-copper development project and a 17% strategic stake in Southern Legacy Minerals, owner of the AntaKori gold-silver-copper exploration project.
Additional information on Andean American and its Invicta project is available on Andean American's website at www.aaggold.com.
This news release contains "forward-looking statements" and "forward-looking information" within the meaning of applicable securities regulations in Canada and the United States (collectively, "forward-looking information"). The forward-looking information contained in this news release is made as of the date of this news release. Except as required under applicable securities legislation, the Company does not intend, and does not assume any obligation, to update this forward-looking information. Forward-looking information includes, but is not limited to, statements with respect to a business combination with Andean American Gold Corp. (the "Business Combination") Often, but not always, forward-looking information can be identified by the use of words such as "plans", "expects, "is expected", "budget", "scheduled", "estimates", forecasts", "intends", "anticipates", or "believes", or the negatives thereof or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might", or "will" be taken, occur or be achieved.
The forward-looking information contained in this news release is based on certain assumptions that the Company believes are reasonable, including that Lupaka Gold and Andean American will receive all necessary stock exchange approvals to complete the Business Combination.
However, forward-looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking information. Such factors include, among others, unanticipated delays in obtaining or failure to obtain required stock exchange approvals. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results to not be as anticipated, estimated or intended. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Readers are cautioned not to place undue reliance on forward-looking information due to the inherent uncertainty thereof.