Business
Veris Gold Corp. announces creation of Restructuring Special Committee and appointment of Raymond James as financial advisor
Toronto Stock Exchange: VG VANCOUVER , Feb. 18, 2014 /CNW/ - Veris Gold Corp. ("V...
About this update from Volcanic Gold Mines Inc.
[{"type":"text","content":"\n\n\nToronto Stock Exchange: VG\n\n\nVANCOUVER, Feb. 18, 2014 /CNW/ - Veris Gold Corp. (\"Veris\" or the \"Company\") (TSX: VG) (OTCQB: YNGFF)\n (Frankfurt Xetra Exchange: NG6A) announced today that the Board of Directors has appointed a\n Restructuring Special Committee (the \"Special Committee\") to\n investigate strategic alternatives and to plan the financial\n restructuring of the Company. The Special Committee comprises François\n Marland, Gerald Ruth and Dr. Barry Goodfield, and is chaired by Mr.\n Marland.\n\n\nThe Special Committee has engaged Raymond James & Associates, Inc.\n (\"Raymond James\") as its sole investment banking advisor. Raymond James\n will provide the Special Committee with general restructuring advice\n and will advise the Special Committee in its consideration of a variety\n of potential business transactions. The catalyst for this new\n initiative was the fire at the mill at the Company's Jerritt Canyon\n Mine in Elko, Nevada, which shut down production for three weeks in\n December, 2013. This production shut down led to the Company being in\n default of its debt repayment obligations to Deutsche Bank AG, London\n Branch (see the Company's news release dated January 29, 2014).\n\n\nAbout Veris Gold Corp.\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\nAbout Raymond James\nRaymond James, a New York Stock Exchange listed firm (RJF: NYSE) is one\n of North America's largest full service investment banks offering\n corporate finance services, institutional sales and trading and one of\n the industries' largest system of financial advisors. Raymond James has\n institutional expertise in the mining sector and significant experience\n providing restructuring advisory services.\n\n\nOn behalf of\n\"VERIS GOLD CORP.\"\n\n\nFrançois Marland\nP...