California Gold Mining Announces Issuance of Shares for Debt
Toronto, Ontario (FSCwire) - California Gold Mining Inc. (“California Gold” or the “Company”) announces that it has agreed to issue 2,666,672 common shares of the Company at a price of $0.07 per common share to the holding company of its former President and director, Michael Churchill in consideration for the balance of fees owing pursuant to Mr. Churchill's services agreement with the Company, valued at $186,667. The common shares issued will be subject to a four month hold period that will expire on June 7, 2015.
Closing of the transaction is conditional upon compliance with the policies of the TSX Venture Exchange, receipt of applicable regulatory approvals and general corporate and securities laws applicable to the issuance.
About California Gold Mining Inc.
California Gold Mining Inc. is focused on developing its flagship Fremont gold project in Mariposa County, California. The project consists of a land package totalling 3,351 acres of historically producing gold mines. The Fremont Property lies within California’s prolific Mother Lode Gold Belt. The Company purchased the property in March 2013.
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.
For further information contact:
Vishal Gupta
President & Chief Executive Officer
647-977-9267 x333
Website: www.caligold.ca
To view this press release as a PDF file, click onto the following link:
public://news_release_pdf/californiagold02062015.pdf
Source: California Gold Mining Inc. (TSX Venture:CGM, OTCQX:CFGMF) http://www.caligold.ca
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