Reunion Gold Completes the Sale of its Matthews Ridge Manganese Project
LONGUEUIL, QUEBEC--(Marketwired - Feb 1, 2017) - Reunion Gold Corp. (TSX VENTURE:RGD) (the "Company") is pleased to announce that it has completed the sale of its Matthews Ridge manganese project to Bosai Minerals Group Co., Ltd., an arm's length Chinese corporation.
The Company received US$5 million at closing. An additional US$5 million will be payable at the rate of US$2.00 per tonne of manganese concentrate or ore shipped from Matthews Ridge once the project enters into production. The Company intends to use the proceeds from the sale to acquire and explore gold projects located in the Guiana Shield of South America and to settle its working capital deficit.
This news release may contain certain forward-looking statements including, but not limited to, statements about future mineral property acquisitions and the Company's future plans. Such statements are subject to a number of risks, uncertainties and assumptions. There can be no assurance that such statements will prove to be accurate.
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 press release.
Information about Reunion is available on SEDAR (www.sedar.com) and its website (www.reuniongold.com).
Contact
Reunion Gold Corp.
David Fennell, Chairman and interim President & CEO
+1 450.677.2585
+1 450.677.2601
info@reuniongold.com