Iberian Minerals Announces Completion of Acquisition of Mineworx Technologies
EDMONTON, ALBERTA--(Marketwired - Dec 22, 2015) - Iberian Minerals Ltd. (the "Company" or "Iberian") (TSX VENTURE:IML)(OTCQB:SLDRF) announced today that, further to its press release dated November 17, 2015, Iberian has acquired (the "Acquisition") Mineworx Technologies Inc. ("Mineworx"), a private arm's length mining and technology company, subject to TSX Venture Exchange final approval. The Acquisition was completed pursuant to the terms of the amalgamation agreement (the "Amalgamation Agreement") made among Mineworx, Iberian and a wholly-owned subsidiary of Iberian, whereby Mineworx amalgamated with the wholly-owned subsidiary of Iberian, and continues as one wholly-owned subsidiary of the Company. Under the terms of the Amalgamation Agreement, Mineworx shareholders are entitled to receive approximately 2.53646 common shares of Iberian ("Iberian Shares") for every one (1) Mineworx common share. In connection with the Acquisition, Iberian has issued 83,999,943 Iberian Shares to the former Mineworx shareholders. In addition, Mr. Duane Nelson has joined the Board of Directors of Iberian.
Iberian intends to provide a further update with respect to its business strategy for 2016 in early January.
About Iberian Minerals
Iberian Minerals is a Canadian junior mining company positioned for growth in North America through the partnership of advanced cash flow mining opportunities utilizing the Mineworx environmentally friendly toll-processing technology.
The Company is also implementing a business strategy to actively engage its Spanish contacts and technical team towards the further accumulation of high interest assets throughout the mineral rich Iberian Peninsula. Iberian Minerals is currently evaluating its Caurio gold/copper/silver concessions located in the Rio Narcea Gold Belt in Asturias, northern Spain and the recently acquired Aroche Wollastonite concession in the province of Huelva, south western Spain. The Company is also studying the re-opening of the Cehegin iron ore concessions in south eastern Spain. For further information, go to www.iberianminerals.ca
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.
This press release contains certain statements which constitute forward-looking statements or information ("forward-looking statements"), including statements regarding Iberian's business and the Acquisition. Such forward-looking statements are subject to numerous risks and uncertainties, some of which are beyond Iberian's and Mineworx's control, including the impact of general economic conditions, industry conditions, volatility of commodity prices, currency fluctuations, environmental risks, operational risks in exploration and development, competition from other industry participants, the lack of availability of qualified personnel or management, stock market volatility and the ability to access sufficient capital from internal and external sources. Although Iberian believes that the expectations in the forward-looking statements are reasonable, they are based on factors and assumptions concerning future events which may prove to be inaccurate. Those factors and assumptions are based upon currently available information. Such statements are subject to known and unknown risks, uncertainties and other factors that could influence actual results or events and cause actual results or events to differ materially from those stated, anticipated or implied in the forward looking information. As such, readers are cautioned not to place undue reliance on the forward looking information, as no assurance can be provided as to future results, levels of activity or achievements. The forward-looking statements contained in this document are made as of the date of this document and, except as required by applicable law, Iberian does not undertake any obligation to publicly update or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise. The forward-looking statements contained in this document are expressly qualified by this cautionary statement.
Contact
Iberian Minerals Ltd.
Greg Pendura
President & CEO
Ph: 780-800-0726
info@iberianminerals.ca
Iberian Minerals Ltd.
Rick Gliege
Corporate Development
Ph: 250-751-3661
rick@iberianminerals.ca