Zara Resources Makes Takeover Offer for Three TSX Venture Exchange Companies - Video News Alert Posted on InvestmentPitch.com

Vancouver, British Columbia--(Newsfile Corp. - August 21, 2013) - Zara Resources' CEO, Danny Wettreich, is again taking steps to shake up the management of some of the junior resource companies listed on the TSX Venture Exchange.

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This time, Zara Resources, which trades on the Canadian National Stock Exchange under the symbol ZRI, has announced all share offers to acquire 100% of the issued capital of the following three junior resource companies:

Shareholder's of Visible Gold Mines Inc., (TSXV: VGD), would receive $0.05 per shares payable by 0.4167 shares of Zara for each Visible share. Based on a recent price for Zara of $0.12, and $0.025 for Visible, this is a premium of more than 200%.

Shareholder's of Greencastle Resources Ltd., (TSXV: VGN), would receive $0.14 per share payable by 1.1667 shares of Zara for each Greencastle share. Based on Greencastle's recent price of $0.06, this is a premium of 133%.

Shareholder's of Altai Resources Inc., (TSXV: ATI), would receive $0.17 per share payable by 1.4167 shares of Zara for each Altai share. Based on Altai's recent price of $0.085, this is a premium of 100%.

Assuming acceptance of the offer, Zara will have approximately 191.3 million shares outstanding, and a market capitalization of $23 million.

The enlarged Zara group of companies will have approximately $13.7 million in net cash and securities, after payment of all current liabilities. It will also have a portfolio of gold, nickel-copper, and oil & gas properties, located across Canada in Quebec, Ontario, British Columbia, Alberta and Saskatchewan, and also in Nevada, USA.

Danny Wettreich stated, "This is a dramatic and innovative simultaneous offer for three public companies, and is designed to offer the shareholders of these companies the opportunity of participating in the creation of a viable natural resource company led by the dynamic, experienced and innovative management team of Zara. I expect annual savings of approximately $1.2 million by putting these companies together."

According to the Zara announcement, over the last three years, these three targeted companies have seen share price declines ranging from 79% to 96%, while their directors have paid themselves a total of $2.5 million.

In addition, Zara believes that most of these shareholders are underwater, and can therefore establish a tax loss by accepting the takeover offer.

This bold move will undoubtedly have other Boards of Directors rethinking their current strategies.

For more information about Zara, please visit the company's website at www.ZaraResourcesInc.com, call Danny Wettreich at 647-931-9775 or email dw@ZaraResourcesInc.com.

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