VANCOUVER, March 1, 2014 /CNW/ - Cliffmont Resources Ltd.
(TSX-V - CMO) ("Cliffmont" or the "Company") wishes to advise that
a majority of vendors are prepared to grant the Company a three
month extension for the final $900,000 payment due on the purchase of the San
Luis property pursuant to the January 3,
2012 purchase agreement. The Company has been in
negotiations with all seven vendors for the past several months for
an extension of the due date for this payment. The
Company was notified on February 28,
2014 by the remaining vendors that they are requesting
payment of their portion of the payment which amounts to
$234,000. The Company is
working to raise the necessary funds to pay these amounts due.
Forward Looking Statements. This Company news release
contains certain "forward-looking" statements and information
relating to the Company that are based on the beliefs of the
Company's management as well as assumptions made by and information
currently available to the Company's management. Such statements
reflect the current risks, uncertainties and assumptions related to
certain factors including, without limitations, competitive
factors, general economic conditions, customer relations,
relationships with vendors and strategic partners, the interest
rate environment, governmental regulation and supervision,
seasonality, technological change, changes in industry practices,
and one-time events. Should any one or more of these risks or
uncertainties materialize, or should any underlying assumptions
prove incorrect, actual results may vary materially from those
described herein.
"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."
SOURCE Cliffmont Resources Ltd.