Business
Lake Victoria Gold Announces Receipt of Tax Clearance Certificate for Imwelo Project Acquisition
Vancouver, British Columbia--(Newsfile Corp. - July 18, 2024) - Lake Victoria Gold Ltd. (TSXV: L...
About this update from Lake Victoria Gold Ltd
[{"type":"text","content":"\nLake Victoria Gold Announces Receipt of Tax Clearance Certificate for Imwelo Project AcquisitionVancouver, British Columbia--(Newsfile Corp. - July 18, 2024) - Lake Victoria Gold Ltd. (TSXV: LVG) (\"LVG\", or the \"Company\") - is pleased to announce that it has received the Tax Clearance Certificate from the Tanzanian Revenue Authority (\"TRA\") for the acquisition of the Imwelo Mining License (\"ML\"). This significant milestone marks the final requirement for the transfer of the Imwelo Mining License to LVG by the Tanzanian Mining Commission.Key Milestone AchievedMarc Cernovitch, CEO & Director, commented: \"We are thrilled to have received the Tax Clearance Certificate from the TRA, which allows us to make our final submissions to the Mining Commission and complete the acquisition of the Imwelo project. This is a critical step forward in our strategy to grow and consolidate our assets in the Lake Victoria Goldfield. Preparation of our submission to the Mining Commission is currently being finalized and expected to be delivered in the coming days.\"Next Steps and Financial ImplicationsWith the acquisition of the Imwelo Mining License now imminent, LVG is set to advance its development plans for the project. Upon transfer of title and final approval from the TSX Venture Exchange (TSXv), the company intends to proceed with site preparations, infrastructure development, and initial mining activities at Imwelo. Additionally, the Company continues to advance negotiations with several other debt and equity partners to secure full financing for the complete development of the Imwelo project and anticipates making further announcements in this regard shortly.Simon Benstead, Executive Chairman & CFO of the Company, stated: \"Receiving the Tax Clearance Certificate is a pivotal step for LVG. It allows us to finalize the Imwelo acquisition and move forward with our development plans. This milestone reflects our dedication to expanding our operations and achieving significant progress in Tanzania. We appreciate the unwavering support and patience of our shareholders, partners, and stakeholders as we work towards our shared goals.\"About Lake Victoria Gold (LVG):Lake Victoria Gold is a rapidly growing gold exploration and development company listed on the TSX Venture Exchange under the symbol LVG. Leveraging our unique position ...