(via TheNewswire)
Balkan Metals shareholders have approved the Acquisition, and Medgold and Balkan Metals have signed an amendment to the Amalgamation Agreement between the parties, which reflects:
The extension of the deadline for closing the Acquisition to
July 31, 2023 . Upon the written request of Medgold, Balkan Metals will make non-refundable cash payments to Medgold in the amount ofC$20,000 in each of the months of May, June andJuly 2023 , such funds to be used for general working capital purposes.Balkan Metals’ right to extend the closing deadline for up to three additional one month periods ending
August 31 ,September 30 , andOctober 31, 2023 . In the case of such extension(s), Balkan Metals will make additional non-refundable cash payments to Medgold ofC$20,000 for each such extended period.The removal from the transaction of the contingent value rights to receive a cash or share payment equal to
US$8 for every ounce of gold mineral reserves calculated for Medgold’sTlamino Project inSerbia , which rights were to have been issued to the Medgold shareholders on closing of the transaction.
The parties are continuing to work closely together to satisfy the conditions precedent to completion of the Acquisition, including seeking conditional approval of the
Trading in the Company’s common shares continues to be halted and is expected to remain halted until completion of the Acquisition.
About
Additional information on Medgold can be found on the Company’s website atwww.medgoldresources.comand by reviewing the Company’s page on SEDAR atwww.sedar.com.
ON BEHALF OF THE BOARD
For Further Information, Contact:
Neither the
Forward-looking Information
Certain statements contained in this news release constitute forward-looking information within the meaning of Canadian securities legislation. All statements included herein, other than statements of historical fact, are forward-looking information and include, without limitation, statements regarding the proposed Acquisition transactions. Often, but not always, this forward-looking information can be identified by the use of words such as “estimate”, “estimates”, “estimated”, “potential”, “open”, “future”, “assumed”, “projected”, “used”, “detailed”, “has been”, “gain”, “upgraded”, “offset”, “limited”, “contained”,“reflecting”, “containing”, “remaining”, “to be”, “periodically”, or statements that events, “could” or “should” occur or be achieved and similar expressions, including negative variations.
Forward-looking information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Medgold and the Resulting Issuer to be materially different from any results, performance or achievements expressed or implied by forward-looking information. Such uncertainties and factors include, among others, whether the
Forward-looking information contained herein are based on the assumptions, beliefs, expectations and opinions of management, including but not limited to: that the Acquisition will be completed as planned; that the resulting company’s stated goals and planned exploration and development activities will be achieved; that there will be no material adverse change affecting the resulting company or its properties; and such other assumptions as set out herein. Forward-looking information has been made as of the date hereof and Medgold disclaims any obligation to update any forward-looking information, whether as a result of new information, future events or results or otherwise, except as required by law. There can be no assurance that forward-looking information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, investors should not place undue reliance on forward-looking information.
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Copyright (c) 2023 TheNewswire - All rights reserved., source