Aquila Resources Inc. (fka AQARF)

[buddhabelly2]

TORONTO, Dec. 5, 2013 /CNW/ - Aquila Resources Inc. (TSX: AQA) (OTCQX: AQARF) (FKT: JM4A) ("Aquila") and REBgold Corporation (TSX.V: RBG) ("REBgold") advise that special meetings of their respective shareholders have been scheduled for December 30, 2013 in relation to the previously announced plan of arrangement involving Aquila and REBgold (the "Arrangement") and proposed acquisition by Aquila of the 51% interest in the Back Forty Project currently held by HudBay Minerals Inc.
REBgold will host its special meeting at 10:00 a.m. on December 30, 2013 at 333 Bay Street, Suite 3400 in Toronto. Aquila will host its special meeting at 11:00 a.m. on December 30, 2013 at the same location.
A joint information circular (the "Circular") with respect to the transactions has been filed with Canadian securities regulators and is being mailed to Aquila and REBgold shareholders of record as of the close of business on November 29, 2013. REBgold's mailing of the Circular follows its receipt of an interim order from the Supreme Court of Ontario on November 28, 2013 which provides for the calling of a special meeting of REBgold shareholders for the purposes of considering the Arrangement.
Post-Transaction Board of Directors & Management
Aquila and REBgold are also pleased to announce that, upon completion of the proposed transactions, Aquila's board of directors and management team is expected to be as follows:


BOARD OF DIRECTORS
NAME POSITION
Mark Burridge Chairman
Barry Hildred Director
Ted Munden Director
Peter Bradshaw Director
Peter Secker Director
Stephen Fabian Director
Edward Guimaraes Director


MANAGEMENT TEAM
NAME POSITION
Barry Hildred CEO
Louis Nagy CFO
Tom Quigley VP Exploration
Coen Louwarts VP Corporate Development
Paul Miller VP Metallurgy

Biographies for members of the post-closing board and management team are included in the Circular.
TSX Approval
The Toronto Stock Exchange ("TSX") has conditionally approved listing of the Aquila shares issuable pursuant to the transactions. Listing is subject to Aquila meeting all conditions imposed by the TSX.
Completion of the Transactions
Aquila and REBgold expect that the transactions will be completed in early January 2014. The transactions are conditional upon, among other things, receipt of all required court, stock exchange and shareholder approvals, including the shareholders of both Aquila and REBgold, and completion of the REBgold's previously announced non-brokered private placement of common shares for gross proceeds of between $4 million and $6 million at a price of $0.13 per share. Baker Steel Capital Partners LLP, on behalf of investment funds managed or controlled by it, has agreed to subscribe for $4.5 million of the common shares offered pursuant to the private placement.
The Toronto Stock Exchange neither approves nor disapproves the information contained in this News Release. 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.