Christopher James Gold Corp.'s Shareholders Approve the Transaction With Chesapeake Gold Corp.; Christopher James Announces Priv
11 11월 2010 - 3:16AM
Marketwired
Christopher James Gold Corp. ("Christopher James" or the "Company")
(TSX VENTURE: CJG) announces that its shareholders approved the
proposed acquisition (the "Acquisition") by Christopher James of
the interests of Chesapeake Gold Corp. ("Chesapeake") (TSX VENTURE:
CKG) in its Talapoosa gold-silver project located in Lyon County,
Nevada and the La Cecilia and La Gitana gold-silver projects
located in Mexico (the "Chesapeake Assets"). Chesapeake will also
transfer $1,000,000 in cash and negotiable securities to
Christopher James on closing of the Acquisition. In connection with
the Acquisition, Christopher James will also undertake a share
consolidation (the "Share Consolidation") and name change (the
"Name Change"), both described in more detail below. In
consideration for the Chesapeake Assets, Christopher James will
issue to Chesapeake 31,977,899 post-consolidation common shares.
Following the closing of the Acquisition, Dr. E. Max Baker will
continue as the Company's President and P. Randy Reifel will act as
Chairman.
Details regarding the Acquisition are contained in the joint
news releases of Christopher James and Chesapeake dated June 24,
2010 and October 12, 2010 and in the management information
circular of Christopher James dated September 28, 2010 (the
"Circular"). Copies of the news releases and Circular have been
filed on SEDAR at www.sedar.com by Christopher James.
Private Placement
Christopher James announces a non-brokered private placement
(the "Private Placement") of up to 1,500,000 common shares at a
price of $1.10 per share for aggregate gross proceeds of up to
$1,650,000. The Private Placement will close following the Share
Consolidation. Subject to TSX Venture Exchange approval, the
Company will pay finder's fees to Canaccord Genuity and Raymond
James. The finder's fees are equal to 5% of the gross proceeds of
common shares sold to Canaccord Genuity and Raymond James and are
payable in either cash or by issuing shares of Christopher James.
The shares issued pursuant to the Private Placement will be subject
to a hold period expiring four months and one day from the date of
issue. Proceeds will be used to fund the exploration and
development of the Talapoosa, La Cecilia and La Gitana mineral
properties and for general corporate purposes. The private
placement is subject to TSX Venture Exchange approval.
Name Change and Share Consolidation
The shareholders of Christopher James have approved the
consolidation of all of the issued and outstanding common shares of
the Company on the basis of one (1) post-consolidation common share
for every ten (10) pre-consolidation common shares. Christopher
James will change its name to Gunpoint Exploration Ltd. in
conjunction with the Share Consolidation.
Christopher James currently has 55,769,747 issued and
outstanding common shares. After the Share Consolidation is
implemented, the Company will have approximately 5,576,947 issued
and outstanding common shares. The exact number of
post-consolidation common shares will vary depending on the
treatment of fractional shares. Any fractional share resulting from
the Share Consolidation will be rounded up to the next whole share
if such fractional share is equal to or greater than one-half (1/2)
of a share and rounded down to the next whole share if such
fractional share is less than one-half (1/2) of a share. No
fractional shares will be issued. The board of directors of the
Company has discretion to determine whether or not to implement the
Share Consolidation. Implementation of the Share Consolidation and
Name Change is subject to the acceptance of the TSX Venture
Exchange.
The parties have agreed to extend the deadline for closing the
Acquisition to November 30, 2010. Closing of the Acquisition will
be subject to certain conditions, including TSX Venture Exchange
approval, implementation of the Share Consolidation and Name Change
and completion of the Private Placement. There can be no assurance
that the transactions will be completed as proposed or at all.
About Christopher James Gold Corp.
The Company is a publicly traded mineral exploration company.
For a more complete business and financial profile of the Company,
interested parties are encouraged to visit the Company's website,
www.christopherjamesgold.com.
Investors are cautioned that, except as disclosed in the
Circular, any information released or received with respect to the
Acquisition may not be accurate or complete and should not be
relied upon. Trading in the securities of Christopher James should
be considered to be highly speculative.
This news release contains forward-looking statements that
address future events and conditions and are subject to various
risks and uncertainties in relation to Christopher James.
Christopher James' actual results, programs and financial position
could differ materially from those anticipated in such
forward-looking statements as a result of numerous factors, some of
which may be beyond the control of Christopher James. These factors
include: the availability of funds; the timing and content of work
programs; results of exploration activities and development of
mineral properties; the interpretation of drilling results and
other geological data; the uncertainties of resource and reserve
estimations; receipt and security of mineral property titles;
project cost overruns or unanticipated costs and expenses;
fluctuations in commodity prices; currency fluctuations; and
general market and industry conditions. Forward-looking statements
are based on the expectations and opinions of the management of
Christopher James on the date the statements are made. The
assumptions used in the preparation of such statements, although
considered reasonable at the time of preparation, may prove to be
imprecise and, as such, undue reliance should not be placed on
forward-looking statements.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Contacts: Christopher James Gold Corp. Dr. E. Max Baker
President 604-408-8829 www.christopherjamesgold.com Chesapeake Gold
Corp. P. Randy Reifel President 604-731-1094
www.chesapeakegold.com
Chesapeake Gold (TSXV:CKG)
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부터 5월(5) 2024 으로 6월(6) 2024
Chesapeake Gold (TSXV:CKG)
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부터 6월(6) 2023 으로 6월(6) 2024