Timmins Gold Corp. today announced that despite continued support from Capital Gold’s shareholders for a merger with Timmins Gold, the acquisition of Capital Gold by Gammon appears to have been approved by the narrowest margin.Demolition Debris Recycling Machine
Bruce Bragagnolo, CEO of Timmins Gold, commented: “Almost all of Capital Gold’s fundamental institutional investors, as well as a large retail contingent, continuously supported our merger proposal. We are very grateful for their commitment to Timmins Gold and thank these fundamental investors for their support. We have no regrets and look forward to continuing to grow Timmins Gold and building value for our shareholders.”
“Timmins Gold also thanks Steve Isenberg and Chris Dingle of M Partners, and Adam Givertz and Christian Kurtz of Shearman and Sterling, LLP for their guidance and hard work throughout this process.”
This press release contains forward-looking statements. Forward-looking statements are statements which relate to future events and are predictions that involve known and unknown risks, uncertainties and other factors. While forward-looking statements, and any assumptions upon which they are based, reflect current judgment regarding the direction of Timmins Gold’s business, actual results will almost always vary, sometimes materially. Except as required by applicable law, Timmins Gold does not intend to update any forward-looking statements. Mobile Crusher Construction Debris
Nevada Sunrise Gold Corporation announces that, further to the convertible loan agreement (the “Loan Agreement”) in the amount of USD$500,000 (the “Loan”) announced March 23, 2010, the Company has executed an amendment (the “Amendment”) to the Loan Agreement. Under the terms of the Amendment, the amount of USD$400,000 will be owed by the Company following repayment of USD$100,000 towards the principal and USD$50,000 as payment of all interest in full in respect of the Loan. The term of the Loan has been extended by 12 months to a total of 24 months, expiring March 25, 2012. The Loan may be pre-paid in advance by the Company without penalty. Upon prior notice to the Company, the Loan is convertible into units of the Company at a deemed price of $0.07 per unit, each unit consisting of one share and one-half of a warrant, each whole warrant entitling the holder to acquire an additional common share at $0.12, exercisable until March 25, 2012. The Loan will continue to bear simple interest of 10%, payable upon the earlier of maturity or conversion.
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