Business
Goldgroup and Oroco Extend the Closing Date for the Cerro Prieto Transaction
VANCOUVER , Aug. 16, 2013 /CNW/ - Goldgroup Mining Inc. ("Goldgroup" or the "Company") (...
About this update from Goldgroup Mining Inc.
[{"type":"text","content":"\n\n\nVANCOUVER, Aug. 16, 2013 /CNW/ - Goldgroup Mining Inc. (\"Goldgroup\" or\n the \"Company\") (TSX:GGA, OTC:GGAZF, BMV SIX:GGAN.MX) announced today\n that they have extended the closing of the acquisition of the Cerro\n Prieto Project (the \"Cerro Prieto Project\") from Oroco Resource Corp.\n (\"Oroco\") to August 30, 2013.\n\n\nGoldgroup has made a deposit of US$40,000 to Oroco, which will be\n applied against the US$4.5 million owed to Oroco on the closing of the\n acquisition of the Cerro Prieto Project.  Further to Goldgroup's July\n 16, 2013 news release, the Company is diligently working towards\n closing the previously announced CDN$4 million senior secured loan\n facility.  Goldgroup and Oroco remain committed to the Cerro Prieto\n transaction and the Company intends to close the senior secured loan\n facility and the acquisition of the Cerro Prieto Project\n simultaneously.\n\n\nAbout Goldgroup\n\n\nGoldgroup is a Canadian-based gold production, development, and\n exploration Company with significant upside in a portfolio of projects\n in Mexico, including its flagship 100%-owned advanced stage gold\n development project Caballo Blanco in the state of Veracruz, and a 50%\n interest in DynaResource de Mexico, S.A. de C.V., which owns 100% of\n the high-grade gold exploration project, San José de Gracia located in\n the state of Sinaloa. The Company also operates its 100%-owned Cerro\n Colorado gold mine in the state of Sonora.\n\n\nGoldgroup is led by a team of highly successful and seasoned individuals\n with extensive expertise in mine development, corporate finance, and\n exploration in Mexico. Goldgroup's mission is to increase gold\n production, mineral resources, profitability and cash flow, building a\n leading gold producer in Mexico.\n\n\nCAUTIONARY NOTE REGARDING FORWARD-LOOKING INFORMATION \n\n\nCertain information contained in this news release, including any\n information relating to future financial or operating performance, may\n be considered \"forward-looking information\" (within the meaning of\n applicable Canadian securities law) and \"forward-looking statements\"\n (within the meaning of the United States Private Securities Litigation\n Reform Act of 1995). These statements relate to analyses and other\n information that are based on forecasts of future results, estimates of\n amou...