VANCOUVER, BC--(Marketwired - March 20, 2017) - SolidusGold Inc. (the "Company") (TSX VENTURE: SDC) is providing an update on the Company's proposed purchase of the Northumberland Project in Nevada from Newmont USA Limited (the "Northumberland Acquisition") and certain of its affiliates and the concurrent private placement of subscription receipts (the "Financing"), as previously announced on September 15, 2016.
The Company announces that the parties were not able to agree on amended transaction terms that would enable the Company to raise the required funds, and the parties have mutually agreed to terminate the purchase agreement. Accordingly, the Financing will not proceed.
Sorin Posescu, President & CEO, commented: "Although we are disappointed in not completing the Northumberland transaction, SolidusGold remains committed to identifying high quality gold assets in safe, mining friendly jurisdictions."