Two unknown foreign corporations executed a share purchase agreement to acquire 10% interest in Vera Gold Corporation from Golden Phoenix Minerals Inc. (OTCPK:GPXM) for $2.6 million on February 6, 2014. As per terms of negotiated purchase agreement, $0.26 million was payable upon full execution of the agreement with the balance of $2.34 million payable on or before April 14, 2014. Golden Phoenix Minerals received full payment of the $0.26 million on February 18, 2014. Final closing of the sale and the transfer of the 10% ownership in Vera Gold are expressly contingent upon Golden Phoenix receiving all proceeds. The sale will provide funding to help capitalize Golden Phoenix Minerals, extinguish certain debt and provide some working capital to commence planned exploration activities on joint-ventured Nevada properties. As on April 23, 2014, Golden Phoenix Minerals received the remaining consideration of $2.34 million.

Two unknown foreign corporations completed the acquisition of 10% interest in Vera Gold Corporation from Golden Phoenix Minerals Inc. (OTCPK:GPXM) on February 18, 2014.