Buccaneer Gold and MedCannAccess Terminate Proposed Business Combination
Toronto, Ontario--(Newsfile Corp. - May 26, 2015) - Buccaneer Gold Corp. (TSXV: BGG) ("Buccaneer" or the "Company") announces that it has received notice from 8437726 Canada Inc. dba MedCannAccess ("MedCannAccess") advising that MedCannAccess wishes to terminate the binding letter of intent (the "LOI") entered into with Buccaneer as disclosed in Buccaneer's news release on July 21, 2014. Accordingly, the parties have formally agreed to terminate the LOI.
Buccaneer is now focusing its attention on investigating other opportunities and will provide a further update to its shareholders in the near future.
The common shares of Buccaneer are expected to resume trading on the TSX Venture Exchange on May 27, 2015.
Buccaneer announces that the annual and special meeting of shareholders (the "Meeting") will be held on Monday, June 15, 2015 commencing at 10:00 a.m. (Toronto time) in Conference Rooms C and D, 2nd Floor, at the Ontario Bar Association, 20 Toronto Street, Toronto, Ontario. Shareholders will be asked to vote for the election of directors, the appointment of auditors and annual confirmation of the stock option plan. Mr. Richard W. Grayston will not be standing for re-election as a director at the Meeting, and Buccaneer thanks him for his years of service since November 2009. Mr. Roy Solomon will be proposed for election as a director to fill the vacancy created by Mr. Grayston's resignation, along with existing directors, Paul Zyla, Kevin C. Swanborough and Blaine Schmidt, as set forth in the management information circular mailed to Buccaneer's shareholders of record.
Buccaneer's shareholders of record at the close of business on Tuesday, May 12, 2015, will be entitled to notice of and to vote at the Meeting. In order for their votes to be counted at the Meeting, shareholders must vote their proxy by no later than June 12, 2015 at 10:00 a.m. (Toronto time) or attend at the Meeting.
About Buccaneer
Buccaneer is a mineral exploration company whose long-term objective is to build a diversified company focused on the acquisition, exploration and development of mineral properties. Additional information about the Company is available on www.buccaneergold.com.
For further information, please contact Paul Zyla, President and Chief Executive Officer or Kevin Swanborough, Chief Financial Officer at 416 366-4227 or by e-mail at info@buccaneergold.com.
Cautionary Statement
This news release includes certain "forward-looking statements". These statements are based on information currently available to the Company and the Company provides no assurance that actual results will meet management's expectations Forward-looking statements include estimates and statements that describe the Company's future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as "believes", "anticipates", "expects", "estimates", "may", "could", "would", "will", or "plan". Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties.
Actual results relating to, among other things, results of exploration, project development, reclamation and capital costs of the Company's mineral properties, and the Company's financial condition and prospects, could differ materially from those currently anticipated in such statements for many reasons such as: changes in general economic conditions and conditions in the financial markets; changes in demand and prices for minerals; litigation, legislative, environmental and other judicial, regulatory, political and competitive developments; technological and operational difficulties encountered in connection with the activities of the Company; and other matters discussed in this news release. This list is not exhaustive of the factors that may affect any of the Company's forward-looking statements. These and other factors should be considered carefully and readers should not place undue reliance on the Company's forward-looking statements. The Company does not undertake to update any forward-looking statement that may be made from time to time by the Company or on its behalf, except in accordance with applicable securities laws.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) has reviewed this news release and neither accepts responsibility for the adequacy or accuracy of this news release.
