Core Gold Provides Update on Titan Transaction
TSX VENTURE: CGLD
VANCOUVER, British Columbia, July 04, 2019 (GLOBE NEWSWIRE) -- Core Gold Inc. ("Core Gold" or the "Company") (TSXV: CGLD, OTCQX: CGLDF) announces that, on July 4, 2019, the British Columbia Supreme Court declined to approve Core Gold's proposed transaction with Titan Minerals Limited (“Titan”) concluding that the Company had failed to satisfy its burden of proof in establishing that the transaction was fair and reasonable.
The Company is considering its options, including appealing the decision.
The Arrangement Agreement between Core and Titan continues in force and has not been terminated.
About Core Gold
The Company is a Canadian based mining company involved in the mining, exploration and development of mineral properties in Ecuador. The Company is currently focused on gold production at its wholly-owned Dynasty Goldfield project. Mineral is treated at the Company's wholly-owned Portovelo treatment plant. The Company also owns other significant gold exploration projects including the Linderos and Copper Duke area in southern Ecuador all of which are on the main Peruvian Andean gold-copper belt extending into Ecuador.
For further information please contact:
Mark Bailey, Interim CEO, Director
Suite 1201 – 1166 Alberni Street
Phone: +1 (604) 345-4822
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.