VANCOUVER, Oct. 5,
2015 /CNW/ -Red Eagle Mining Corporation (TSX-V: RD,
OTCQX: RDEMF, SSE-V: RDCL) is pleased to announce the
acquisition of an additional 1,847,518 common shares
("Shares") of CB Gold Inc. ("CB Gold") which were
tendered to its share exchange takeover bid upon expiry. Red
Eagle Mining is the largest shareholder of CB Gold owning a total
of 90,443,183 or over 50% of CB Gold Shares. As previously
announced, Red Eagle Mining has requisitioned a shareholder meeting
of CB Gold in order to replace the current board of directors.
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