Rio Verde Minerals Issues Statement
December 03 2012 - 2:07PM
Marketwired
Rio Verde Minerals Development Corp. (TSX:RVD) ("Rio Verde" or the
"Company") announced today that it has received a non-binding
proposal to acquire the Company from B&A Mineracao S.A.
("B&A") and that it is in negotiations with B&A regarding
the potential acquisition of the Company.
Rio Verde has formed a special committee and has engaged
financial and legal advisors to provide support with the
process.
Rio Verde cautions that there can be no assurances that an
agreement will result or that a transaction will occur and that if
one does occur there can be no assurances at what price it will be
completed. The Company does not intend to comment further upon any
potential corporate transaction unless a definitive agreement is
reached with any third party or unless otherwise required by
law.
About Rio Verde
Rio Verde Minerals Development Corp. is a publicly traded
company focused on the exploration and development of fertilizer
projects in Brazil. The Company's goal is to become the leading
Brazilian fertilizer mining and development company by selecting
prime assets that are near infrastructure, with known
mineralization, in regions without significant social or
environmental issues. The Company plans to fast-track the best
projects to development to create stakeholder value.
Rio Verde holds one potash project and a portfolio of phosphate
projects in Brazil. Potash and phosphate fertilizers have
favourable supply and demand dynamics, and Rio Verde has a
significant cost advantage by being based in Brazil, a country that
imports about 90% of its potash and 50% of its phosphate needs. Rio
Verde's near-term primary objective is to focus its potash
exploration on establishing a Canadian National Instrument 43-101
resource.
Forward-Looking Statements
This press release contains forward-looking statements. All
statements, other than 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 potential corporate transactions,
the estimation of mineral resources, exploration results, potential
mineralization, potential mineral resources and mineral reserves)
are forward-looking statements. Forward-looking statements are
often identifiable by the use of words such as "anticipate",
"believe", "plan", may", "could", "would", "might" or "will",
"estimates", "expect", "intend", "budget", "scheduled", "forecasts"
and similar expressions or variations (including negative
variations) of such words and phrases. Forward-looking statements
are subject to a number of risks and uncertainties, many of which
differ materially from those discussed in the forward-looking
statements. Factors that could cause actual results or events to
differ materially from current expectations include, among other
things, without limitation, failure to establish estimated mineral
resources, the possibility that future exploration results will not
be consistent with the Company's expectations, the price of potash
and phosphate, changes to regulations affecting the Company's
activities, including tax and trade laws and policies; delays in
obtaining or failures to obtain required regulatory permits and
approvals from government authorities; delays in commencing the
Company's proposed drilling program, exploration costs varying
significantly from estimates; uncertainties relating to the
availability and costs of financing needed to complete exploration
activities and demonstrate the feasibility of the Company's
projects; the success of future exploration and development
initiatives; and other risks involved in the mineral exploration
and development industry. Any forward-looking statement speaks only
as of the date on which it is made and, except as may be required
by applicable securities laws, the Company disclaims any intent or
obligation to update any forward-looking statement.
Contacts: Rio Verde Minerals Development Corp. Stephen Keith
President and CEO +1 (416) 368-8288info@Rvminerals.com Rio Verde
Minerals Development Corp. Alex Penha VP Corporate Development +1
(416) 368-1573apenha@Rvminerals.com www.rvminerals.com