Infinito Gold Ltd. Announces Sale of Nicaraguan Subsidiary
31 Januar 2012 - 2:00PM
PR Newswire (Canada)
Trading Symbol: TSX-V: IG CALGARY, Jan. 31, 2012 /CNW/ - Infinito
Gold Ltd. ("Infinito Gold" or the "Company") announces that its
wholly owned subsidiary, Infinito International Holdings Corp., has
sold its wholly owned Nicaraguan subsidiary, Nueva Segovia Mining
S.A. ("Nueva Segovia") to Fortress de Nicaragua S.A. ("Fortress")
for the purchase price of CAD $5,000. Nueva Segovia owns the
Zúngano Concession in Nicaragua which was originally acquired in
February 2010. The sale allows the Company to avoid US $63,000 in
concession and landowner fees which were otherwise due, in large
part, in early 2012. John A. Thomas, a director of the Infinito
Gold and its COO and Vice President, is also a director and officer
of both Fortress and its parent company. Steven Dean, the
Chairman of the Board of Directors of the Infinito Gold, is also a
director of the parent company of Fortress. The acquisition
was approved by the independent directors of Infinito Gold. Caution
Regarding Forward-Looking Information and Statements Certain
statements in this press release address future events and
conditions and, as such, involve known and unknown risks,
uncertainties and other factors which may cause the actual results,
performance or achievements to be materially different from any
future results, performance or achievements expressed or implied by
the statements. These statements are made as of the date of
this release but Company undertakes no obligation to update these
forward-looking information or statements if circumstances or
management's estimates or opinions should change. The reader is
cautioned not to place undue reliance on forward-looking
information or statements. INFINITO GOLD LTD. John Morgan President
"The TSX Venture Exchange does not accept responsibility for the
adequacy or accuracy of this release." Infinito Gold Ltd. CONTACT:
INFINITO GOLD LTD.600, 1100 1st Street S.E.Calgary, Alberta T2G
1B1Telephone: (403) 444-5191
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