Business
Veris Gold Corp. announces amendment to 683 Capital Partners' loan
Toronto Stock Exchange: VG VANCOUVER , Jan. 31, 2014 /CNW/ - January 31, 2014 -...
About this update from Volcanic Gold Mines Inc.
[{"type":"text","content":"\n\n\nToronto Stock Exchange: VG\n\n\nVANCOUVER, Jan. 31, 2014 /CNW/ - January 31, 2014 - Veris Gold Corp. (\"Veris\" or the \"Company\") (TSX: VG)\n (OTCQB: YNGFF) (Frankfurt Xetra Exchange: NG6A) announced today that it has entered into an agreement with 683 Capital\n Partners, LP (\"683 Capital\") to extend the maturity date of the 683 Note (as defined below) to\n January 12, 2014 and to amend the exercise price of the 683 Warrants\n (as defined below) from US$1.80 to US$0.50, subject to the approval of\n the Toronto Stock Exchange. No other provisions of the 683 Note or 683\n Warrants will be amended and insiders of the Company hold none of the\n 683 Warrants directly or indirectly. The amendment to the exercise\n price of the 683 Warrants will be effective as of ten trading days from\n the date of this release.\n\n\nOn April 12, 2013 the Company entered into a promissory note with 683\n Capital with a principal amount of US$10,000,000 (the \"683 Note\"), an interest rate of 9% and a maturity date of December 12, 2013. In\n connection with the 683 Note, the Company also issued to 683 Capital\n 3,400,000 common share purchase warrants (the \"First 683 Warrants\") with an exercise price of US$1.80 and an expiry date of April 12,\n 2018. On May 15, 2013, the Company amended the terms of the 683 Note\n and in connection with said amendment, on July 5, 2013 the Company\n issued an additional 500,000 common share purchase warrants (the \"Second 683 Warrants\", together with the First 683 Warrants, the \"683 Warrants\") to 683 Capital with an exercise price of US$1.80 and an expiry date\n of July 5, 2018.\n\n\nAbout Veris Gold Corp.\n\n\nVeris Gold Corp. is a growing mid-tier North American gold producer in\n the business of developing and operating gold mines in geo-politically\n stable jurisdictions. The Company's primary assets are the permitted\n and operating Jerritt Canyon processing plant and gold mines located 50\n miles north of Elko, Nevada, USA.  The Company's primary focus is on\n the re-development of the Jerritt Canyon mining and processing plant. \n The Company also holds a portfolio of precious metals properties in\n British Columbia and the Yukon Territory, Canada, including the Ketza\n River Property.\n\n\nOn behalf of\n\"VERIS GOLD CORP.\"\n\n\nFrançois Marland\nPresident and CEO\n\n\nTo be added t...