Repayment of RMB Secured Debt Facility
VANCOUVER, BC--(Marketwired - July 06, 2017) - Black Dragon Gold Corp. (TSX VENTURE: BDG) ("Black Dragon" or the "Company") is pleased to announce that it has repaid its secured debt facility with RMB Australia Holdings Limited ("RMB") for aggregate cash consideration of US$3,461,579.00 (US$3 million plus accrued interest) and has granted to RMB a Net Smelter Royalty of 2% on the first 800,000 ounces of Salave gold production as previously announced in the Company's press releases dated November 15, 2016 and December 16, 2016. The proceeds utilized to repay the facility were raised pursuant to the Company's recently closed $8.5 million non-brokered private placement, closed on June 30, 2017.
The Company expects to implement the board changes, as previously announced, on July 7, 2017.
Brian Wesson stated "the repayment of RMB is another significant milestone for the Company. The Company no longer has any secured debt and is in good stead for the new Board and management to progress Salave with a view to unlocking its significant value."
Signed "Brian Wesson"
Chief Executive Officer
on behalf of the Board of Directors
About Black Dragon Gold
Black Dragon Gold "BDG" is the 100% owner of the largest undeveloped gold project in Europe, the Salave project. Salave is situated in the North of Spain in the province of Asturias. The Salave project has measured and indicated resources totalling 6.52 million Tonnes grading 4.51 g/t Au containing 944,000 ounces of gold at a 2.0 g/t cutoff grade and gold price of USD$1,100/ounce. In addition to the current mineral resource, historical exploration work suggests there is the potential for additional mineralisation within Black Dragon's landholdings.
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.
Contact
FOR FURTHER INFORMATION PLEASE CONTACT:
Clyde Wesson
Vice President
Suite 545, 999 Canada Place
Vancouver, B.C., V6C 3E1
Tel: (604) 684-6264
info@blackdragongold.com
www.blackdragongold.com