VANCOUVER, Sept. 17, 2015 /CNW/ - Red Eagle Mining
Corporation (TSX-V: RD, OTCQX: RDEMF, SSE-V: RDCL) has
purchased a further 937,000 common shares (the "Shares") of
CB Gold Inc. ("CB Gold") on certain public markets,
including the Toronto Stock Exchange Venture.
Red Eagle Mining has previously disclosed in its take-over bid
circular in respect of its offer to acquire all of the issued and
outstanding Shares of CB Gold (the "Offer"), that it may
purchase Shares in the open market during the period of the Offer.
Today's highest price paid for the Shares was $0.065. An aggregate of 7,512,000 Shares have
been purchased in the open market since the commencement of Red
Eagle Mining's Offer on June 30, 2015
for an average price $0.061. After
today's purchase, Red Eagle Mining owns a total of 84,417,198
Shares of CB Gold, representing 47% of the total outstanding Shares
of CB Gold.
About Red Eagle Mining
Red Eagle Mining is a well-financed gold exploration and
development corporation with an experienced mine-development
team. Management is focused on building shareholder value
through discovering and developing gold projects with low costs and
low technical risks in Colombia, a
jurisdiction with prolific historic production but until recently
limited modern exploration. Red Eagle Mining is developing
the 100 square kilometre historic Santa Rosa Gold Project located
in the Antioquia Batholith. Construction is underway at the
fully permitted and fully financed San Ramon Gold Mine with
production expected to commence in the second half of 2016.
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. This news release includes
forward-looking statements that are subject to risks and
uncertainties. All statements within, other than statements
of historical fact, are to be considered forward looking.
Although the Company believes the expectations expressed in
such forward-looking statements are based on reasonable
assumptions, such statements are not guarantees of future
performance and actual results or developments may differ
materially from those in forward-looking statements. Factors
that could cause actual results to differ materially from those in
forward-looking statements include market prices, exploitation and
exploration successes, continued availability of capital and
financing, and general economic, market or business conditions.
There can be no assurances that such statements will prove
accurate and, therefore, readers are advised to rely on their own
evaluation of such uncertainties. We do not assume any
obligation to update any forward-looking statements. This news
release does not constitute an offer to sell or a solicitation of
an offer to sell any securities in the United States. The
securities have not been and will not be registered under the
United States Securities Act of 1933, as amended (the "U.S.
Securities Act") or any state securities laws and may not be
offered or sold within the United
States or to U.S. Persons unless registered under the U.S.
Securities Act and applicable state securities laws or an exemption
from such registration is available.
SOURCE Red Eagle Mining Corporation