February 4, 2013 - Vancouver, British Columbia. Banyan Coast Capital Corp. ("Banyan") (TSX-V: BYN.P), a Capital Pool Company ("CPC") listed on the TSX Venture Exchange (the "Exchange"), is pleased to announce that Banyan has been granted conditional approval from the Exchange of its proposed qualifying transaction (the "Qualifying Transaction"). This conditional approval is granted further to previous announcements relating to Banyan's proposed Qualifying Transaction involving the acquisition from Argus Metals Corp (TSX-V: AML) of its interests in the Hyland Gold Project (the "Acquisition").
Banyan has filed a Filing Statement on SEDAR ( www.sedar.com) that provides details regarding the Qualifying Transaction.
Closing of the Proposed Transaction is scheduled to occur on or about February 15, 2013. A further news release will be issued upon closing of the Proposed Transaction. Trading of BYN.P will resume on or about February 4, 2013.
ON BEHALF OF THE BOARD OF BANYAN
(signed) "Richmond Graham"
President and Chief Executive Officer
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Completion of the Qualifying Transaction is subject to a number of conditions, including but not limited to, Exchange acceptance. There can be no assurance that the Qualifying Transaction will be completed as proposed or at all.
Investors are cautioned that, except as disclosed in the management information circular or filing statement to be prepared in connection with the Qualifying Transaction, any information released or received with respect to the transaction may not be accurate or complete and should not be relied upon. Trading in the securities of a capital pool company should be considered highly speculative.
The TSX Venture Exchange has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this press release.
Neither the Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Exchange) accepts responsibility for the adequacy or accuracy of this release.
Disclaimer for Forward-Looking Information
Statements in this news release regarding Banyan which are not historical facts are “forward-looking statements” that involve risks and uncertainties. Such information can generally be identified by the use of forwarding-looking wording such as “may”, “will”, “expect”, “estimate”, “anticipate”, “intend”, “believe” and “continue” or the negative thereof or similar variations. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties, such as the risk that the closing of the Qualifying Transaction may not occur for any reason. Actual results could differ materially from those currently anticipated in such statements due to factors including, but not limited to, the TSX Venture Exchange failing to grant final acceptance for the Qualifying Transaction for unforeseen reasons.