MED:CC - Medgold Receives Shareholder Approval to Proposed Acquisition of Balkan Metals Corp.
(TheNewswire)
Vancouver, Canada – TheNewswire- September 5, 2023 – Medgold ResourcesCorp. (TSXV:MED ) ( FRA:1XD)(“ Medgold ”) reports on the status of its proposedacquisition (the “ Acquisition ”) ofBalkan Metals Corp. (“ BalkanMetals ”), a private British Columbia companywhich holds a portfolio of exploration licenses in Serbia, some ofwhich are contiguous to Medgold’s existing Serbian explorationpermits. With mineral rights covering close to 1,000 squarekilometers, the resulting company will be the largest holder of highlyprospective exploration ground in the Republic of Serbia.
We are pleased to confirm that at the annual generaland special meeting of Medgold held on August 31, 2023, shareholdersvoted in favour of all matters brought before the meeting includingthe Acquisition and related share consolidation and company namechange. Upon completion of the Acquisition, the resulting companywill be renamed to Electrum Metals Group Corp.
The parties are continuing to work closely to finalizethe Acquisition, including completing the proposed $2.0 millionnon-brokered private placement offering of subscription receipts ofBalkan Metals. The net proceeds of the financing will be used by theresulting issuer to fund exploration of its Serbian properties(principally, the Timok East Project) and for working capital andgeneral corporate purposes.
Trading in Medgold’s common shares continues to behalted and is expected to remain halted until completion of theAcquisition.
About Medgold Resources Corp.
Additional information on Medgold can be found on theCompany’s website at www.medgoldresources.com and by reviewing the Company’s page on SEDAR+ at www.sedarplus.ca .
ON BEHALF OF THE BOARD
Jeremy Crozier, President and CEO
For Further Information,Contact:
Jeremy Crozier (Vancouver), +1 604 801 5432, info@medgoldresources.com
Neither the TSX Venture Exchange norits Regulation Services Provider (as that term is defined in thepolicies of the TSX Venture Exchange) accepts responsibility for theadequacy or accuracy of this release.
Forward-looking Information
Certain statements contained in thisnews release constitute forward-looking information within the meaningof Canadian securities legislation. All statements included herein,other than statements of historical fact, are forward-lookinginformation and include, without limitation, statements regarding theproposed Acquisition transactions. Often, but not always, thisforward-looking information can be identified by the use of words suchas “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 thatevents, “could” or “should” occur or be achieved and similarexpressions, including negative variations.
Forward-looking information involvesknown and unknown risks, uncertainties and other factors which maycause the actual results, performance or achievements of Medgold andthe Resulting Issuer to be materially different from any results,performance or achievements expressed or implied by forward-lookinginformation. Such uncertainties and factors include, among others,whether the Company will obtain all required approvals of theAcquisition and related transactions; the completion of theAcquisition and related transactions; the use of proceeds of theproposed financing; changes in general economic conditions andfinancial markets; risks associated with the results of explorationand development activities, and the geology, grade and continuity ofmineral deposits; unanticipated costs and expenses; and such otherrisks detailed from time to time in Medgold’s quarterly and annualfilings with securities regulators and available under Medgold’sprofile on SEDAR+ at www.sedarplus.ca . Although Medgold has attempted toidentify important factors that could cause actual actions, events orresults to differ materially from those described in forward-lookinginformation, there may be other factors that cause actions, events orresults to differ from those anticipated, estimated orintended.
Forward-looking informationcontained herein are based on the assumptions, beliefs, expectationsand opinions of management, including but not limited to: that theAcquisition and related transactions will be completed as planned;that the resulting company’s stated goals and planned explorationand development activities will be achieved; that there will be nomaterial adverse change affecting the resulting company or itsproperties; and such other assumptions as set out herein.Forward-looking information has been made as of the date hereof andMedgold disclaims any obligation to update any forward-lookinginformation, whether as a result of new information, future events orresults or otherwise, except as required by law. There can be noassurance that forward-looking information will prove to be accurate,as actual results and future events could differ materially from thoseanticipated in such information. Accordingly, investors should notplace undue reliance on forward-looking information.
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