Toronto Ontario August 25 2015 - Batero Gold Corp. ("Batero") (TSX-V: BAT) reaffirms the superiority of its offer (the "Batero Offer") to acquire all of the issued and outstanding common shares (the "CBJ Shares") of CB Gold Inc. ("CB Gold"). Batero encourages shareholders of CB Gold (the "CBJ Shareholders") to deposit their CBJ Shares to the superior Batero Offer and to withdraw any CBJ Shares they may have deposited to the hostile inferior offer (the "Red Eagle Offer") made by Red Eagle Mining Corporation ("Red Eagle") as soon as possible and prior to August 31 2015 the expiry date of the Red Eagle Offer.
Red Eagle is a frustrated bidder whose hostile take-over for CBJ Shares is failing. Since the Batero bid was announced Red Eagle has made similar claims to those in yesterday's press release to the British Columbia Securities Commission (the "BCSC"). As of today the BCSC has not made any requests for information or required any response from Batero in respect of Red Eagle's allegations. Red Eagle's decision to issue a press release implying violations of securities laws by Batero is a last minute effort to mislead and confuse CBJ Shareholders. Batero reaffirms that its public record is clear and believes that CBJ Shareholders have all the information they require in order to make an informed decision as to which offer to tender their CBJ Shares.
CB Gold's board of directors unanimously recommends that CBJ Shareholders TENDER IN FAVOUR of the Batero Offer and REJECT the hostile offer from Red Eagle. The superior Batero Offer provides the following benefits to CBJ Shareholders:
The wide range of discretionary conditions included in the Red Eagle Offer could permit Red Eagle to walk away without providing CBJ Shareholders with any value at all. Only the Batero Offer provides significant immediate and certain benefits to CBJ Shareholders with a cash and share offer that will retain shareholders￢ﾀﾙ ability to benefit from the potential of CB Gold￢ﾀﾙs assets.
Batero also believes that CBJ Shareholders may have deposited their CBJ Shares to the inferior Red Eagle Offer being unaware of Batero's superior offer. CBJ Shareholders who have tendered their CBJ Shares to the Red Eagle Offer should also contact Kingsdale Shareholder Services for assistance in order to WITHDRAW them immediately and in any event prior to the August 31 2015 expiry date of the hostile inferior Red Eagle Offer.
For further information please contact:
Tel: 604.568.6378 or
Batero is a precious and base metals exploration and development company focused on moving the La Cumbre oxide deposit toward a production decision. Once the appropriate level of study has been completed Batero intends to target the near surface higher grade oxidized gold mineralization at the deposit. Batero is also pursuing opportunities to acquire prospective high-grade production focused mineral properties in Colombia and Latin America. In pursuing these objectives Batero plans to leverage its secure treasury position strong regional relationships experienced management team and long-term financial partners. Common shares of the Vancouver-based company trade on the TSX Venture Exchange under the symbol "BAT".
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.