(via TheNewswire)
In addition, Medgold has issued a convertible debenture(the “Debenture”)to Balkan Metals in the maximum principal amount of
Amounts advanced under the Debenture will bear interest at 5% per annum, calculated and compounded monthly, and accrued interest may be paid by the issuance of Medgold shares; however, any interest amount accrued pursuant to the Debenture will be converted at the lowest conversion price permitted by the
Upon execution of the Amalgamation Agreement, Balkan Metals will make a cash payment to Medgold of
The parties are working together to satisfy the conditions precedent to completion of the Acquisition, including seeking conditional approval of the TSXV and approval by the Medgold and Balkan Metals shareholders, as well as arranging the proposed
Trading in the Company’s common shares continues to be halted and is expected to remain halted until completion of the Acquisition.
About
Additional information on Medgold can be found on the Company’s website atwww.medgoldresources.comand by reviewing the Company’s page on SEDAR atwww.sedar.com.
ON BEHALF OF THE BOARD
For Further Information, Contact:
Neither the
Forward-looking Information
Certain statements contained in this news release constitute forward-looking information within the meaning of Canadian securities legislation. All statements included herein, other than statements of historical fact, are forward-looking information and include, without limitation, statements regarding the proposed Acquisition transactions. Often, but not always, this forward-looking information can be identified by the use of words such as“estimate”, “estimates”, “estimated”, “potential”, “open”, “future”, “assumed”, “projected”, “used”, “detailed”, “has been”, “gain”, “upgraded”, “offset”, “limited”, “contained”,“reflecting”, “containing”, “remaining”, “to be”, “periodically”,or statements that events,“could”or“should”occur or be achieved and similar expressions, including negative variations.
Forward-looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Medgold and the Resulting Issuer to be materially different from any results, performance or achievements expressed or implied by forward-looking information. Such uncertainties and factors include, among others, whether the Exchange and Medgold and Balkan Metals shareholders will approve of the Acquisition and related transactions; whether the Acquisition will be completed as planned; changes in general economic conditions and financial markets; risks associated with the results of exploration and development activities, and the geology, grade and continuity of mineral deposits; unanticipated costs and expenses; and such other risks detailed from time to time in Medgold’s quarterly and annual filings with securities regulators and available under Medgold’s profile on SEDAR atwww.sedar.com. Although Medgold has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results to differ from those anticipated, estimated or intended.
Forward-looking information contained herein are based on the assumptions, beliefs, expectations and opinions of management, including but not limited to: that the Acquisition will be completed as planned; that the Resulting Issuer’s stated goals and planned exploration and development activities will be achieved; that there will be no material adverse change affecting the Resulting Issuer or its properties; and such other assumptions as set out herein. Forward-looking information has been made as of the date hereof and Medgold disclaims any obligation to update any forward-looking information, whether as a result of new information, future events or results or otherwise, except as required by law. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, investors should not place undue reliance on forward-looking information.
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