Ventana Gold suitor EBX offers $12.63 a share

2010-11-17 09:27 ET - News Release

An anonymous representative of EBX reports

EBX ANNOUNCES INTENTION TO MAKE ALL-CASH OFFER TO ACQUIRE VENTANA GOLD CORP.

EBX intends to make an all-cash offer to acquire all of the issued and outstanding common shares of Ventana Gold Corp. that it does not own at a price of $12.63 in cash per Ventana common share.

63X Master Fund, a company indirectly controlled by Eike F. Batista, beneficially owns approximately 20,806,000 common shares of Ventana (including common shares underlying outstanding special warrants owned by 63X Master Fund), representing approximately 20 per cent of Ventana's outstanding common shares (on a fully diluted basis).

The offer values the total equity of Ventana at approximately $1.5-billion on a fully diluted basis.