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Castle Peak Signs Definitive Agreement to Sell Substantially all of Its Assets
Vancouver, British Columbia--(Newsfile Corp. - March 20, 2018) - Castle Peak Mining Ltd. (TS...
About this update from Akwaaba Mining Ltd
[{"type":"text","content":"Castle Peak Signs Definitive Agreement to Sell Substantially all of Its AssetsVancouver, British Columbia--(Newsfile Corp. - March 20, 2018) - Castle Peak Mining Ltd. (TSXV: CAP) (\"Castle Peak\" or the \"Company\"), is pleased to announce that, further to its news release of November 2, 2017, the Company has completed the sale of the Company's exploration interests in the southern Ashanti Belt, Western Region, Ghana to Star Goldfields Ltd. (the \"Transaction\") for proceeds of an aggregate of US$4,250,000 in cash, less certain less certain liabilities of the acquired subsidiaries of the Company that held the exploration interests as at the closing date.Approval of the Transaction by the Company's shareholders was obtained by special resolution at a meeting of shareholders held on October 19, 2017 (the \"Shareholders' Meeting\"). As previously disclosed, following completion of the Transaction, the Company does not have any active business operations or assets other than cash. At the Shareholders' meeting, the shareholders approved certain alternatives which may be carried out at the directors' discretion, including distribution of the Company's assets and dissolution of the Company. The Board of Directors of Castle Peak intends to explore potential strategic alternatives following the closing of the Transaction and will update shareholders when any decisions are made. There can be no assurance that such exploration of strategic alternatives will result in a transaction being pursued, entered into or consummated. The TSXV may transfer Castle Peak to the NEX, a separate board of the TSXV if Castle Peak fails to meet the ongoing minimum listing requirements of the TSXV. About Castle PeakCastle Peak Mining Ltd. is a Canadian-based junior exploration company focused on advancing greenfields and early stage gold projects. For additional information please visit www.castlepeakmining.com or contact:Iyad Jarbou, DirectorTel: 604-362-7685Email: [email protected] CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS:Certain information provided in this press release constitutes forward-looking statements and information within the meaning of applicable securities laws. Specifically, and without limitation, this press release contains forward-looking statements and information relating to: the listing of the Company on the TSXV and...