03:48 PM EST - Orvana Minerals Corp. : said that its wholly-owned subsidiary, Orvana Minerals Acquisition Corp., will be acquiring all of the shares of Kinbauri Gold Corp. that it does not already own pursuant to the compulsory acquisition provisions of the Canada Business Corporations Act. As a result of the company's successful take-over bid for Kinbauri that expired on August 28, 2009, Orvana now holds about 95% of the outstanding shares of Kinbauri. Orvana plans to buy the remaining 5% that it does not currently own by compulsory acquisition on or about September 28, 2009. Under the compulsory acquisition, Kinbauri shareholders who do not exercise statutory dissent rights will be entitled to receive $0.75 per Kinbauri share. Upon completion of the compulsory acquisition, Orvana intends to apply to have the common shares of Kinbauri delisted from the TSX Venture Exchange and to have Kinbauri cease to be a reporting issuer under Canadian securities laws. Orvana Minerals Corp.
shares T.ORV are trading up $0.02 at $0.96.
