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Candente Gold Announces Purchase of Remaining 30% Interest in El Oro Project from Goldcorp Subsidiary
(via TheNewswire) Vancouver, British Columbia / TheNewswire / January 2 6 th , 2017...
About this update from Xali Gold Corp.
[{"type":"text","content":"Candente Gold Announces Purchase of Remaining 30% Interest in El Oro Project from Goldcorp Subsidiary(via TheNewswire)\n \n \nVancouver, British Columbia / TheNewswire / January 26th, 2017. Candente Gold Corp. (TSXV:CDG) (\"Candente Gold\" or \"the Company\") is pleased to report that it has entered into a Purchase and Sale Agreement (the \"Agreement\") pursuant to which it will acquire the remaining 30% interest in the El Oro Project (the \"El Oro Project\") in Mexico (the \"Transferred Interest\") from Desarrollos Mineros San Luis, S.A. de C.V. (\"DMSL\"), a subsidiary of Goldcorp Inc. (\"Goldcorp\"). Upon closing of the acquisition of the Transferred Interest, the Company will hold 100% interest in the El Oro Project as it had previously earned a 70% interest in the El Oro Project from Goldcorp.\n\n \n \nAs consideration for the acquisition of the Transferred Interest, Candente Gold has agreed to issue to DMSL (or its nominee) an aggregate of 5,000,000 common shares of Candente Gold (the \"Shares\"), with 1,000,000 Shares to be issued concurrently with the acquisition of the Transferred Interest and with further tranches of 1,000,000 Shares to be issued to DMSL (or its nominee) on the four successive anniversary dates of the Agreement, with Candente Gold having the right but not the obligation to issue any or all of such 4,000,000 Shares in advance of such anniversary dates in its sole discretion. \n\n\n \nAbout Candente Gold\n\n\n \nCandente Gold's flagship asset is the El Oro Project, a district scale gold project encompassing a well known prolific high grade gold-silver (average 1:10 ratio) epithermal vein system in Mexico. The project covers 20 veins with past production and more than 57 veins in total, from which approximately 6.4 million ounces of gold and 74 million ounces of silver were reported to have been produced from just two of these veins (Ref. Mexico Geological Service Bulletin No. 37, Mining of the El Oro and Tlapujahua Districts. 1920, T. Flores)\n\n\n \nJoanne C. Freeze, P.Geo., Director, President and CEO, and Sean I. Waller, P.Eng. and Vice President, are Qualified Persons as defined by National Instrument 43-101 for the project discussed above. Ms. Freeze and Mr. Waller have reviewed and approved the contents of this release.\n\n\n \nNeither the TSX Venture Exchange nor its Regulation Services Provider (...