Americas Bullion Garners Payment from Royalty Sale; Finalizes Arrangement with Till Capital - Insurance News | InsuranceNewsNet

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April 23, 2014 Newswires
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Americas Bullion Garners Payment from Royalty Sale; Finalizes Arrangement with Till Capital

Proquest LLC

Americas Bullion Royalty Corp. ("AMB") announced that it has received the final $13.95 million USD payment from the sale of 18 royalties to Orion Royalty Company as previously announced on November 26, 2013.

According to a release, the Company also announced the successful completion of the previously announced arrangement.

In November 2013, Americas Bullion entered into an amendment to the senior secured facility agreement with MF Investment, pursuant to which a nominee of MF Investment was granted an option to purchase 18 royalties from Nevada Royalty Corp. ("NRC"), a subsidiary of Americas Bullion. The option was exercised on November 26th, 2013, and NRC entered into an agreement of purchase and sale with Orion Royalty Company pursuant to which NRC completed the sale of the royalties to Orion for a total of $34 million USD, including retirement of the debt facility, subject to post-closing deliveries being satisfied.

The Company also wishes to update shareholders and confirm that the reorganization transaction of AMB pursuant to the Arrangement has received the approval of the Supreme Court of British Columbia. Further, the TSX Venture Exchange ("TSX-V") has conditionally accepted the listing of the restricted voting shares (the "Till Shares") of Till Capital that shareholders of AMB will receive under the Arrangement.

As a result of the Arrangement, the common shares of AMB shares will cease to be listed on the Toronto Stock Exchange ("TSX") and the Till Shares will become listed for trading on the TSX-V. As part of this transition, the AMB shares will continue to be traded on the TSX for 3 business days. The AMB shares are expected to cease to be listed for trading on the TSX on or about the close of business on April 23. The Till Shares will become listed for trading on the TSX- V on or about April 24. AMB intends to apply to the relevant securities regulatory authorities to cease to be a reporting issuer in the applicable jurisdictions in Canada.

On March 28, the AMB shareholders voted in support of the Arrangement with Till. Upon completion of the Arrangement, which is subject to certain customary conditions, the general nature of the assets of Till will be:

-Over CAD$35 million in cash and securities;

-approximately 55 separate royalty interests, including deeded and option royalties;

-ownership of all of the issued and outstanding shares of Resource Re, which holds a Class 3A insurance license in Bermuda;

-assuming completion of the proposed subscription, on a private placement basis, of common shares of Silver Predator Corp. ("SPD") (see AMB news release dated March 25th,), ownership of up to 75,000,000 shares of SPD, representing approximately 64 percent of the issued and outstanding shares of SPD, assuming no additional shares are issued by SPD;

-ownership of up to 15,000,000 shares of Northern Tiger Resources ("NTR"), representing approximately 54 percent of the issued and outstanding shares of NTR, assuming no additional shares are issued by NTR;

-ownership of 6,000,000 shares of Wolfpack Gold Corp. ("WFP"), representing approximately 12 percent of the issued and outstanding shares of WFP, assuming no additional shares are issued by WFP;

-ownership of Cuesta del Cobre, S.A.; interest in the Adelaide, Tuscarora and Carlin Vanadium Projects in Nevada, USA and 50 percent interest in the Angels Camp Property in Oregon, USA; and

-approximately 160 oz of gold bullion.

Full details of the Arrangement are described in the AMB Circular and the arrangement agreement between AMB and Till dated February 18, as amended on March 25, all of which are available under AMB's company profile on SEDAR.

More information:

www.sedar.com

www.tillcap.com

((Comments on this story may be sent to [email protected]))

Copyright:  (c) 2014 ProQuest Information and Learning Company; All Rights Reserved.
Wordcount:  603

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