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California Gold Mining Announces Re-Pricing of Warrants
TORONTO, ON / ACCESSWIRE / October 16, 2018 /California Gold Mining Inc. ("California Gold" ...
About this update from Canadian Goldfields Discovery Corp
[{"type":"text","content":"California Gold Mining Announces Re-Pricing of WarrantsTORONTO, ON / ACCESSWIRE / October 16, 2018 /California Gold Mining Inc. (\"California Gold\" or the \"Company\") (TSX-V: CGM) announces that further to the disinterested shareholder approval obtained at the annual and special meeting of shareholders held on February 28, 2017, it is re-pricing a total of 4,246,405 common share purchase warrants (the \"Warrants\") that were issued in previous private placements. The exercise price of the Warrants is being amended from $1.00 to $0.75. The expiry dates of the Warrants range from March 17, 2019 to October 22, 2019, and are not being amended. However, pursuant to the disinterested shareholder approval, an acceleration provision is being added to the Warrants which stipulates that if the common shares of the Company trade at a price at or above $0.75 per share on the TSX Venture exchange (the \"Exchange\") for a period of 20 consecutive trading days the Company will be obligated to provide the holder of the Warrants with a notice stating that the expiry date of the Warrants will be accelerated to the earlier of their original expiry date, and the date that is 30 days following the date of such notice. For the purposes of this provision the term \"trade\" will refer to the closing price of the Company's common shares on the Exchange on the applicable day.About California Gold Mining Inc.California Gold Mining Inc. is focused on developing its 100%-owned Fremont Project in Mariposa County, California. The Project consists of an entirely private and patented land package totaling 3,351 acres of historically producing gold mines, with a state highway, PG&E electric substation and abundant water present on the Property itself. The Property lies within California's prolific Mother Lode Gold Belt that has produced over 50 million oz of gold historically. The Company purchased the Property in March 2013.CAUTION REGARDING FORWARD-LOOKING INFORMATIONThis news release of California Gold contains statements that constitute \"forward-looking statements\". Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause California Gold's actual results, performance or achievements, or developments in the industry to differ materially from the anticipated results, performance or achievements exp...