Solvista Provides Update on Letter Agreement With IAMGOLD
2014年1月25日 - 6:15AM
Marketwired
Solvista Provides Update on Letter Agreement With IAMGOLD
TORONTO, ONTARIO--(Marketwired - Jan 24, 2014) - Solvista Gold
Corporation ("Solvista" or the "Company")
(TSX-VENTURE:SVV)(OTCQX:SVVZF) wishes to provide an update on the
status of its Letter Agreement (the "Agreement") with IAMGOLD
Corporation ("IAMGOLD"), which Agreement sets out the major terms
of a 70% earn-in option agreement, as was previously announced on
December 18, 2013.
Under the terms of the Agreement, IAMGOLD will have the right to
earn up to a 70% interest in the Company's Caramanta Project (the
"Project"), located in Colombia's Mid-Cauca Belt, by completing the
following steps:
- IAMGOLD can earn an initial 51% interest in the Project by
investing a total of US$18,000,000 (of which US$2,500,000 is a firm
commitment) in qualifying expenditures, which may include
US$900,000 of cash payments to Solvista, over a maximum five-year
period commencing on December 16, 2013; and
- IAMGOLD can earn an additional 19% interest in the Project, for
a total 70% interest, by investing a further US$18,000,000 in
qualifying expenditures over a maximum three-year period following
the completion of the initial 51% earn-in.
Subject to the satisfaction of the aforementioned conditions,
and upon completion of IAMGOLD's 51% or 70% earn-in, as IAMGOLD may
elect, Solvista and IAMGOLD will enter into a joint venture to hold
and advance the Project.
Further details regarding the Agreement are available in the
Company's press release dated December 18, 2013.
The Agreement, which is to be replaced by a definitive option
agreement in the future, contemplates a "Reviewable Disposition"
(as defined in the policies of the TSX Venture Exchange (the
"TSX-V")) of more than 50% of Solvista's assets, business or
undertaking. As such, the Agreement remains subject to (i)
shareholder approval, which the Company proposes to obtain by way
of written consents from holders of a majority of its shares, and
(ii) regulatory approval by the TSX-V. Further updates will be
announced on the status of the Agreement as appropriate.
About the Caramanta Project
The Caramanta Project is located at the centre of the Middle
Cauca Belt, one of the most prolific gold districts in Colombia,
with production dating back to pre-colonial times. It has also been
the focus of intense exploration over the past five years with a
number of new discoveries including La Colosa (Anglogold Ashanti),
a porphyry-gold deposit with a JORC-compliant Inferred Resource of
24.15 Moz Au at 0.94 g/t Au. Directly south of the Project is Gran
Colombia Gold's Marmato Project with NI 43-101-compliant Measured
and Indicated Resources of 11.8 Moz Au at 0.9 g/t Au and 80 Moz Ag
at 6.1 g/t Ag and Inferred Resources of 2.6 Moz Au at 1.02 g/t Au
and 9 Moz Ag at 3.7 g/t Ag. To the north is Sunward Resources'
Titiribí deposit where a NI 43-101-compliant Measured and Indicated
Resource of 6.2 Moz AuEq at 0.50 g/t and Inferred Resource of 6.5
Moz AuEq at 0.53 g/t have been announced.
About Solvista
Solvista is a gold exploration company with two projects,
Caramanta and Guadalupe. These projects cover approximately 45,000
hectares in the Antioquia province of Colombia, a region rich in
historic gold mining tradition and where several new gold
discoveries have recently been made. Solvista is well funded and
has completed initial drill programs at both its projects, with the
discovery of significant mineralization at both. Solvista's head
office is located in Toronto, Canada with its Colombian
headquarters located in Medellín. For further details on Solvista,
its management team and its projects, please refer to Solvista's
website (www.solvistagold.com).
Neither the TSX-V nor its Regulation Services Provider (as that
term is defined in the policies of the TSX-V) accepts
responsibility for the adequacy of this news release. No stock
exchange, securities commission or other regulatory authority has
approved or disapproved the information contained herein.
CAUTIONARY STATEMENT: This news release contains forward-looking
information which is not comprised of historical facts.
Forward-looking information involves risks, uncertainties and other
factors that could cause actual events, results, performance,
prospects and opportunities to differ materially from those
expressed or implied by such forward-looking information.
Forward-looking information in this news release includes, but is
not limited to, information relating to the status of the Agreement
and shareholder and regulatory approvals thereof. Factors that
could cause actual results to differ materially from such
forward-looking information include, but are not limited to,
inability to obtain shareholder and/or regulatory approval of the
Agreement, Solvista's relationship with IAMGOLD, fluctuations in
equity markets and commodity prices, and those risks set out in
Solvista's public documents filed on SEDAR. Solvista believes that
the assumptions and factors used in preparing the forward-looking
information in this news release are reasonable, for example, that
Solvista will obtain all necessary approvals for the Agreement and
the Agreement will not be terminated. Nevertheless, undue reliance
should not be placed on such information, which only applies as of
the date of this news release, and no assurance can be given that
such events will occur in the disclosed time frames or at all.
Solvista disclaims any intention or obligation to update or revise
any forward-looking information, whether as a result of new
information, future events or otherwise, other than as required by
applicable securities laws.
Solvista Gold CorporationMiller O'Prey, PGeoChief Executive
Officer+1 647 694 0149moprey@solvistagold.comSolvista Gold
CorporationDon Christie, CPAChief Financial Officer+1 416 504
4171dchristie@solvistagold.comwww.solvistagold.com
Solvista Gold Corporation (TSXV:SVV)
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から 5 2024 まで 6 2024
Solvista Gold Corporation (TSXV:SVV)
過去 株価チャート
から 6 2023 まで 6 2024