|January 11, 2010|
Richview Shareholders Approve Amalgamation with Cadillac Subsidiary
|Toronto, January 11, 2010 -- Cadillac Ventures Inc. (TSXV-CDC) ("Cadillac") and Richview Resources Inc. (TSX-RVR) ("Richview") are pleased to announce that at Richview's annual and special meeting of shareholders held on January 8, 2010, Richview shareholders overwhelmingly approved the proposed amalgamation of Richview with a wholly-owned subsidiary of Cadillac pursuant to a three-cornered amalgamation (the "Amalgamation").|
Under the Amalgamation, which is anticipated to become effective on Friday, January 15, 2010, each common share of Richview will be exchanged for one-ninth (1/9th) of a Cadillac common share. Based on approximately 143 million Richview common shares issued and outstanding, Cadillac will issue approximately 15.9 million Cadillac common shares pursuant to the Amalgamation. On closing, assuming no exercise of any existing convertible securities of Cadillac or Richview, Cadillac will have approximately 58 million common shares outstanding, of which approximately 27.4% will be held by former shareholders of Richview. It is anticipated that Equity Transfer Services will deliver Cadillac common shares to former registered Richview shareholders commencing on Monday, January 18, 2010.
Richview has requested that its shares be delisted from trading on the Toronto Stock Exchange as of the close of trading on January 12, 2010.
Cadillac is a development-focused exploration Company which has two Canadian exploration projects, located in regions that have been historically active, and exploration projects in Spain.
The New Alger project located outside of Cadillac, Québec is a wholly-owned, previously producing gold mine, where the Company has entered into a joint venture agreement with Renforth Resources Inc. for a three year $2.5 million exploration program. The Burnt Hill Project is a 51% owned tungsten tin project located outside of Fredericton, New Brunswick. In Spain, Cadillac is joint venture partner with Minas de Aguas Tenidas, S.A.U. regarding the exploration of a number of high potential properties surrounding the Aguas Tenidas Mine. Upon the completion of the Amalgamation, Cadillac will control the Thierry Mine near Pickle Lake in Northern Ontario.
For more information regarding Cadillac, please visit Cadillac's website at www.cadillacventures.com, or call Norman Brewster, President and Chief Executive Officer, at (416) 203-7722.
Richview is a Canadian public mining company that is focused on the exploration and development of deposits containing base metals, gold and platinum group elements in Canada. Richview is the sole owner of the past-producing Thierry Mine property in north-western Ontario, adjacent to the town of Pickle Lake. Richview is committed to responsible development of natural resources while respecting local environmental, community and social interests.
Forward Looking Statements
This news release may contain certain forward-looking statements under applicable securities laws. All statements, other than statements of historical fact, are forward looking. Forwardlooking statements are frequently identified by such words as "may", "will", "plan", "expect",
"believe", "anticipate", "estimate", "intend" and similar words referring to future events and results. Forward-looking statements are based on the current opinions and expectations of management. All forward-looking information is inherently uncertain and subject to a variety of assumptions, risks and uncertainties, including completion of the Amalgamation, the speculative nature of mineral exploration and development, fluctuating commodity prices, the risks of obtaining necessary licences and permits and the availability of financing, as described in more detail in each of Cadillac's and Richview's securities filings available at www.sedar.com. Actual events or results may differ materially from those projected in the forward-looking statements and the reader is cautioned against placing undue reliance thereon. Cadillac and Richview assume no obligation to revise or update these forward-looking statements except as required by law. All dollar amounts are in Canadian dollars unless otherwise noted.
Neither the TSX, nor any other securities regulatory authority, has approved or disapproved of the contents of this news release.