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Goldgroup Signs Letter of Intent to Sell Rights to Contingent Consideration
Goldgroup Signs Letter of Intent to Sell Rights to Contingent Consideration Goldgr...
About this update from Goldgroup Mining Inc.
[{"type":"text","content":"\n\n\n\nGoldgroup Signs Letter of Intent to Sell Rights to Contingent Consideration\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n\n\n\n\n\n\nGoldgroup Signs Letter of Intent to Sell Rights to Contingent Consideration\nCanada NewsWire\nVANCOUVER, Jan. 26, 2016\n\n\n\nVANCOUVER, Jan. 26, 2016 /CNW/ - Goldgroup Mining Inc. (\"Goldgroup\" or the \"Company\") (TSX:GGA, OTC:GGAZF, BMV SIX:GGAN.MX) announces it has entered into a binding letter of intent (\"LOI\") with Aptus Resources LLC (\"Aptus\"), where Aptus will acquire Goldgroup's rights to the contingent consideration as disclosed in the press release detailing the Caballo Blanco transaction on December 24, 2014. \n\nThe purchase price for the rights is US$1,900,000 and both parties have until February 29, 2016 to negotiate and conclude a definitive agreement which will incorporate and supersede the terms and conditions agreed to in the LOI. Pending the execution and delivery by the parties of the definitive agreement, Aptus shall have the option to acquire the contingency rights. \n\nAbout Goldgroup\n\nGoldgroup is a Canadian-based gold production, development, and exploration Company with a significant upside in a portfolio of projects in Mexico, including a 50% interest in DynaResource de Mexico, S.A. de C.V., which owns 100% of the high-grade gold exploration project, San José de Gracia located in the State of Sinaloa. The Company also operates its 100%-owned Cerro Prieto heap-leach gold mine, in the State of Sonora.\n\nGoldgroup is led by a team of highly successful and seasoned individuals with extensive expertise in mine development, corporate finance, and exploration in Mexico. Goldgroup's mission is to increase gold production, mineral resources, profitability and cash flow, with a view to building a leading gold producer in Mexico. \n\nOn behalf of the Board of Directors,\n\nMr. Keith Piggott, Chairman and PresidentTel: 1-520-247-5753\n\nInvestor Relations Toll Free: 1-877-655-ozAu (6928)\n\nCAUTIONARY NOTE REGARDING FORWARD-LOOKING INFORMATION \n\nCertain information containe...