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Mexigold Announces Definitive Option Agreement and Private Placement Financing
Apr. 13, 2011 (Filing Services Canada) -- Mexigold Corp. (MAU - TSX Venture), announces that, f...
About this update from Kinross Gold Corporation
[{"type":"text","content":"\nMexigold Announces Definitive Option Agreement and Private Placement Financing\n\n Apr. 13, 2011 (Filing Services Canada) -- Mexigold Corp. (MAU - TSX Venture), announces that, further to its news release dated February 10, 2011, it has entered into a definitive option agreement (the \"Agreement\") dated March 18, 2011, subject to regulatory approval, with Riverside Resources Inc. (\"Riverside\") to acquire up to a 75% interest in three drill ready exploration properties (the \"Catrina\", \"Escondida\" and \"Pedernal\" properties) located in Durango-Zacatecas, Mexico (the \"Durango Properties\").  Riverside is the 100% registered and beneficial owner of the Durango Properties, comprising an area of over 76,000 hectares.  The Durango Properties are strategically located in the rich producing Mesa Central region of Mexico.Terms of the OptionIn consideration for the Company's acquisition of a 75% undivided interest in the Durango Properties (the \"Option\"), the Company must meet the following obligations:-------------------------------------------------------------------------Due Dates                   Cash Payments       Shares(1)     Exploration                                                             Expenditures-------------------------------------------------------------------------On approval of the          $50,000 (of          200,000          Nil Agreement by the            which $25,000TSX Venture Exchange        has been paid)-------------------------------------------------------------------------6 months from the               Nil   ...