Golden Band、債権者提案と株式抹消を裁判所に承認申請

AsiaNet 65204 （0906）

【サスカトゥーン（カナダ・サスカチュワン州）2016年7月23日PR Newswire＝共同通信JBN】

＊TSX.V (NEX Board): GBN.H

Golden Band Resources Inc.（「Golden Band」、TSX.V＝NEXボード：GBN.H）のカナダ連邦倒産法（BIA）に基づく提案は2016年7月22日、債権者によって承認された。

裁判所に承認申請する提案が想定しているのは、

a）Procon Resources Inc.もしくはその指名人（「Procon」）が入札手続き（「ストーキング・ホース・クレジット・ビッド」）の下でGolden Bandの株式を取得する。

b）Golden Bandのすべての株式と資本持ち分（「既存資本持ち分」）は回収、取り消し、抹消され、Golden Bandの新しい資本持ち分がProconへ発行される。

ストーキング・ホース・クレジット・ビッド（破産法申請前の企業の仮の買い主よる買い取り提案）に基づくProconによる買い取り価格は、融資契約の下でのGolden BandのProconに対する債務（約1960万ドルに専門家手続き料と費用を加えた額）と、DIP（占有継続債務者）タームシートに準拠するGolden Bandのすべての債務、Golden Bandのその他の債務を合わせた額になる。債務はDIPオブリゲーションで優先される期日時点の未返済残高。期日は2016年8月12日に想定されている。

事業の売却と投資勧誘の手続きによっても、ストーキング・ホース・クレジット・ビッドを上回る金額の有効な買い取り提案は出なかった。このためProconのストーキング・ホース・クレジット・ビッドが最良の提案として裁判所に承認申請が提出された。

サスカチュワン州女王座裁判所が承認申請を審査する公判は以下の通り。

場所：Court House, 520 Spadina Crescent East, Saskatoon, Saskatchewan, Canada.

日時：2016年8月12日（金）米山岳部夏時間午前10時

インターネットでのアクセスは

公判資料:  http://www.bowragroup.com/#!golden-band-resources/edi9w

シンシアリー（心を込めて）

Golden Band Resources Inc.,

「ポール・サクストン」

ポール・サクストン最高経営責任者（CEO）

▽詳しい問い合わせは

Investor Relations:

+1-604-682-6852

Email: info@goldenbandresources.com

www.goldenbandresources.com;

The Bowra Group

Trustee: Kristin Gray:

+1-780-809-1224

Email: kgray@bowragroup.com

ソース：Golden Band Resources Inc.

Golden Band Seeks Court Approval of Proposal to Creditors & Cancellation of Existing Shares

PR65204

SASKATOON, Saskatchewan, July 23, 2016 /PRNewswire=KYODO JBN/ --

-- TSX.V (NEX Board): GBN.H

The Bankruptcy and Insolvency Act proposal by Golden Band Resources Inc.

("Golden Band") to its creditors (the "Proposal") was approved by creditors on

July 22, 2016.

Subject to court approval, the Proposal contemplates:

a)      Procon Resources Inc. or its nominee ("Procon") acquiring the shares

        of Golden Band under a bid transaction (the "Stalking Horse Credit

        Bid"); and

b)      all existing shares and equity interests in Golden Band (the "Existing

        Equity Interests") will be retracted, cancelled and extinguished and

        new equity interests in Golden Band will be issued to Procon.

The purchase price by Procon under the Stalking Horse Credit Bid equals the

obligations of Golden Band to Procon under the Credit Agreement (approximately

$19.6 million, plus professional fees and costs), all obligations owed by

Golden Band pursuant to the DIP Term Sheet and any obligations of Golden Band

outstanding as of the closing date that rank in priority to the DIP

Obligations.  The closing date is expected to be August 12, 2016.

As sales and investment solicitation procedures failed to yield qualified bids

for amounts in excess of the Stalking Horse Credit Bid, the Stalking Horse

Credit Bid of Procon has been put forward to the Court for approval as the best

offer available.

Particulars of the hearing (the "Hearing") at which the Court of Queen's Bench

For Saskatchewan will be asked to approve the Proposal are as follows:

Location:           Court House, 520 Spadina Crescent East, Saskatoon,

                     Saskatchewan, Canada.

Date & Time:        Friday, August 12, 2016 at 10:00 a.m. Mountain Daylight

                     Time.

Online Access to

Hearing Materials:  http://www.bowragroup.com/#!golden-band-resources/edi9w.

Sincerely,

Golden Band Resources Inc.,

"Paul Saxton"

Paul Saxton, CEO

Caution Regarding Forward-Looking Information and Statements

This news release includes certain forward-looking statements or information.

All statements other than statements of historical fact included in this

release, including, without limitation, statements regarding the potential

restructuring and financing plans, objectives or expectations of Golden Band

Resources Inc. (Company) are forward-looking statements that involve various

risks and uncertainties. There can be no assurance that such statements will

prove to be accurate and actual results and future events could differ

materially from those anticipated in such statements. Important factors that

could cause actual results to differ materially from the Company's plans or

expectations include risks relating to the failure to obtain restructuring

proposals acceptable to the Company, necessary regulatory or shareholder

approvals, regulatory changes, timeliness of government or regulatory approvals

and other risks detailed herein and from time to time in the filings made by

the Company. The Company makes all reasonable efforts to update its corporate

information on a timely basis.

Neither 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.

For further information:

Investor Relations:

+1-604-682-6852

Email: info@goldenbandresources.com

www.goldenbandresources.com;

The Bowra Group

Trustee: Kristin Gray:

+1-780-809-1224

Email: kgray@bowragroup.com

SOURCE:  Golden Band Resources Inc.