Gold Resource Corporation Acquires Interest in Canamex Resources Corp.
26 Februar 2014 - 1:45PM
Marketwired
Gold Resource Corporation Acquires Interest in Canamex Resources
Corp.
COLORADO SPRINGS, CO--(Marketwired - Feb 26, 2014) - Gold
Resource Corporation (NYSEMKT: GORO) (the "Company") announced
today that a wholly owned subsidiary of Gold Resource Corporation
has entered into a subscription agreement with Canamex Resources
Corp. ("Canamex") (TSX-VENTURE: CSQ) (OTCQX: CNMXF) to acquire
22,222,222 common shares of Canamex, to be issued from the treasury
of Canamex on a private placement basis, at a price of Cdn $0.09
per share for the aggregate purchase price of Cdn
$2,000,000. Upon completion of the share acquisition, Gold
Resource Corporation anticipates that it will hold approximately
18.4% of the issued and outstanding shares of Canamex.
Pursuant to the terms of the subscription agreement, the Company
will have the right to appoint one representative to the Board of
Directors of Canamex, provided that the Company holds more than 10%
of the issued and outstanding shares of Canamex. The closing
of the proposed transaction is subject to certain conditions,
including the approval of the TSX Venture Exchange.
The shares of Canamex will be acquired by the Company for
investment purposes. It is the Company's intention to evaluate
its investment in Canamex on a continuous basis, and its holdings
in Canamex may be increased or decreased in the future as the
Company may determine appropriate for investment purposes.
About GRC: Gold Resource Corporation is a mining company focused
on production and pursuing development of gold and silver projects
that feature low operating costs and produce high returns on
capital. The Company has 100% interest in six potential
high-grade gold and silver properties in Mexico's southern state of
Oaxaca. The Company has 53,779,369 shares outstanding, no
warrants and no debt. Gold Resource Corporation offers
shareholders the option to convert their cash dividends into
physical gold and silver and take delivery. For more
information, please visit GRC's website, located at
www.Goldresourcecorp.com and read the Company's 10-K for an
understanding of the risk factors involved.
Cautionary Statements:
This press release contains forward-looking statements that
involve risks and uncertainties. The statements contained in this
press release that are not purely historical are forward-looking
statements within the meaning of Section 27A of the Securities Act
and Section 21E of the Exchange Act. When used in this press
release, the words "plan", "target", "anticipate," "believe,"
"estimate," "intend" and "expect" and similar expressions are
intended to identify such forward-looking statements. Such
forward-looking statements include, without limitation, the
statements regarding Gold Resource Corporation's strategy, future
plans for production, future expenses and costs, future liquidity
and capital resources, and estimates of mineralized material. All
forward-looking statements in this press release are based upon
information available to Gold Resource Corporation on the date of
this press release, and the company assumes no obligation to update
any such forward-looking statements. Forward looking statements
involve a number of risks and uncertainties, and there can be no
assurance that such statements will prove to be accurate. The
Company's actual results could differ materially from those
discussed in this press release. In particular, there can be no
assurance that production will continue at any specific
rate. Factors that could cause or contribute to such
differences include, but are not limited to, those discussed in the
Company's 10-K filed with the SEC.
Contacts: Corporate Development Greg Patterson 2886 Carriage
Manor Point Colorado Springs, CO 80906 303-320-7708
www.Goldresourcecorp.com
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