Global Hunter Corp. (TSX.V: BOB) (FSE:G5D) is pleased to announce that it recently completed a surface sampling program at La Corona de Cobre. The program was designed to collect surface samples from the numerous prospective shear zones. This will aid in the definition of drill targets to expand on the copper oxide mineralization.
The samples will be collected from outcrops along the entire strike lengths of the shears and have been shipped to ALS Chemex Labs in La Serena Chile for analysis. Results will be released as soon as practical after they have been received.
These shear zones can be traced on surface for hundreds of metres, with the longest being Vino Fino, which has been mapped for over 6,000 metres. Local miners are currently extracting ore from several shear zones on the property and transporting it to Enami for processing.
The surface sample results in conjunction with previous geophysical work completed on the property Global Hunter intends to prepare a multi-hole drill program on the shear zones scheduled to begin early 2011 as part of its ongoing evaluation of its Corona de Cobre project. In addition to sampling and drilling of the prospective shear zones at La Corona de Cobre mentioned above, The Company will continue its work on the Las Posadas resource over the coming months and will provide a summary of its progress as information becomes available.
Global Hunter�s flagship project is the La Corona de Cobre property, located 70 kilometres north of La Serena, Chile, along the Pan American Highway, within the coastal belt of the Andean Cordillera. The NI 43-101-compliant resource contains 225 million pounds of copper oxide. In addition, the Company has its Rabbit South molybdenum project in south-central British Columbia, Canada.
The technical information in this news release has been reviewed by Mr. Rod Husband, a qualified person for the purposes of National Instrument 43-101.
For More Information Go To: www.globalhunter.ca
Eurand N.V. (NASDAQ:EURX), a global specialty pharmaceutical company, and Axcan Holdings, Inc., a leading pharmaceutical company focused on the treatment of gastrointestinal disorders, have entered into a definitive agreement under which Axcan will acquire all the outstanding shares of Eurand for $12.00 per share in cash. The fully diluted equity value of the transaction is approximately $583 million. Under the terms of the agreement, it is anticipated that a wholly-owned subsidiary of Axcan will shortly commence a tender offer for all of the outstanding shares of Eurand.
The combined company will have an enhanced presence in the specialty pharmaceuticals sector and will be led by Frank Verwiel, M.D., President and Chief Executive Officer of Axcan. Dr. Verwiel said, “We are excited about the significant benefits this transaction delivers to stockholders, employees and customers of both organizations. Through combining the organizations, we look to create a new organization with an enhanced product portfolio, broader geographic reach, a robust research and development pipeline, innovative pharmaceutical development and manufacturing platforms, and a world-class sales force.”
The transaction is subject to a condition that a minimum of 80% of Eurand shares be tendered, as well as receipt of antitrust approval. To reach the 80% threshold, a majority of the shares held by shareholders other than Mr. Faherty and affiliates of Warburg Pincus will be required to be tendered. Affiliates of Warburg Pincus, which own approximately 55% of Eurand’s outstanding shares in the aggregate, and Mr. Faherty, who owns approximately 3.7% of Eurand’s outstanding shares in the aggregate, have entered into agreements pursuant to which they will tender their shares into the offer.
Eurand is a specialty pharmaceutical company that develops, manufactures and commercializes enhanced pharmaceutical and biopharmaceutical products based on its proprietary pharmaceutical technologies. Eurand has had six products approved by the FDA since 2001 and has a pipeline of product candidates in development for itself and its collaboration partners.
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