Trading Symbol: TSXV: IG
CALGARY, March 20, 2015 /CNW/ - Infinito Gold
Ltd. (the "Company" or "Infinito") announces a further advance
of $130,000 under the demand loan
facility (the "Loan") provided by Exploram Enterprises Ltd.
("Exploram"), the Company's major shareholder (see news release
dated February 11, 2015). A
condition of the advance was the transfer of certain data relating
to the Crucitas gold project in Costa
Rica (the "Data") as nominal consideration (the "Data
Transfer"). The funds were advanced promptly after Infinito
provided notice to Exploram.
In addition to the $300,000
advanced under the Loan as previously announced, the additional
funds advanced conditional upon the Data Transfer are expected to
satisfy the Company's immediate working capital requirements
through March 2015.
Under the terms of the Data Transfer, the Company is permitted
access to the Data if the Company requires access in connection
with the arbitration claim against the Government of the Republic
of Costa Rica (see news release
dated February 10, 2014) or other
legal or regulatory proceedings.
The Company will continue to work with its major shareholder,
Exploram, to secure funding on a short-term basis, as required, to
be used to finance the Company's short-term working capital
requirements. Any such further funding, including in relation to
the remaining $320,000 potentially
available to the Company under the Loan, is at the sole discretion
of Exploram.
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 factors include, among others, the extent of
the Company's working capital requirements; the Company's ability
to access further short-term financing; developments, if any, in
relation to the arbitration claim against the Government of the
Republic of Costa Rica; and the
timing and nature of further legal action, if any, in Costa Rica. 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
Interim President
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.
SOURCE Infinito Gold Ltd.