Information Update, Alpha - Fission Plan of Arrangement
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Nov. 15, 2013) - Alpha Minerals Inc. (TSX VENTURE:AMW) (FRANKFURT:E2GA), (the "Company" or "Alpha"), wishes to update Alpha securityholders with respect to a litigation matter that was disclosed in its information circular ("Information Circular") filed with respect to the current Plan of Arrangement with Fission Uranium Corp. ("Fission"), upon which securityholders of Fission and Alpha will vote at a special meeting in Vancouver on November 28, 2013.
The Information Circular refers to a draft counterclaim (see page E-37 of the Appendix "E" in the Alpha Circular) that was received by Fission on October 27, 2013. The counterclaim was filed with the Supreme Court of British Columbia on November 8, 2013 and was subsequently served on Fission (the "Counterclaim"). Jody Dahrouge, Debbie Dahrouge, 877384 Alberta Ltd. and Dahrouge Geological Consulting Ltd. are the plaintiffs by way of counterclaim, and Devinder Randhawa, Fission Uranium Corp., Fission Energy Corp., and Denison Mines Corp. are the defendants by way of counterclaim. The Counterclaim is in response to a Notice of Civil Claim ("Claim") dated July 29, 2013, as amended on September 17, 2013, that was filed by Fission against the plaintiffs in the Counterclaim. In addition to the summary below, the Counterclaim and Fission's Claim are public documents that outline the claims in greater detail.
The Counterclaim includes allegations of breaches of British Columbia securities laws, slander, wrongful interference, improper assignment, and improper variation of obligations. The relief being sought in the Counterclaim includes unspecified losses and damages, declarations of ownership in relation to certain mineral permits and claims, declarations concerning the enforceability of certain assignments, injunctions preventing the defendants by way of counterclaim from disparaging certain mineral permits and claims, interest, and costs. In connection with the proposed Fission spinout transaction, Fission proposes to transfer its rights and interests in the Claim to Fission 3.0 Corp. ("Fission Spinco") and Fission Spinco has agreed to indemnify Fission to the extent that Fission incurs any costs in connection with the Claim including the Counterclaim.
On behalf of the Board of Directors of Alpha Minerals Inc.
Ben Ainsworth, President, CEO and Director
Please refer to the Alpha Minerals Inc. website (www.alphaminerals.ca) for Company information and the Information Circular.
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.
Alpha Minerals Inc.
Robert (Bob) Meister
(604) 629-0293 or Toll Free: 1-866-629-0293
(604) 684-9365 (FAX)
Alpha Minerals Inc.
Suite 408 - 1199 West Pender St.
Vancouver, B.C., V6E 2R1