VANCOUVER,
Oct. 8, 2013 /CNW/ - Fire River Gold
Corp. (TSXV: FAU), (OTCQX: FVGCF), (FSE: FWR) (the "Company" or
"Fire River") announced today that is has been unsuccessful in
renegotiating the terms of its Senior Secured Gold Stream Credit
Agreement (the "Credit Facility") with Waterton Global Value, L.P.
("Lender") and has received demand for payment from the Lender.
The Lender has also notified the Company of its
intention to enforce the security granted to the Lender pursuant to
the Credit Facility and of its intention to take the Company's
shares in its wholly owned subsidiary, Mystery Creek Resources
Inc., in satisfaction of the Company's indebtedness to the Lender
in accordance with its rights under the British Columbia Personal Property Security
Act. The result of such realization process by the Lender would
be the loss of substantially all of the Company's assets. The
Company knows of no reason that the Lender's realization process
will not complete as proposed.
Prior to the demand for payment, the Board of
Directors of the Company engaged in significant efforts to find
additional sources of financing for the Company. Ultimately,
however, the Company was unable to find additional financing,
primarily due to the current difficult market conditions.
FIRE RIVER GOLD CORP.
"Blane W. Wilson"
__________________
Blane W. Wilson
President and CEO
Cautionary Statement Regarding Forward-Looking Information
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. This news release
contains forward-looking statements regarding the business and
operations of Fire River Gold. In particular, statements regarding
use of proceeds and production targets in the upcoming years are
forward-looking statements. There can be no assurance that such
statements will prove to be accurate and actual results and future
events could differ materially from those anticipated in such
statements. Important factors that could cause actual results to
differ materially from Fire River's plans or expectations include
risks relating to the actual results of current exploration
activities, fluctuating gold prices, possibility of equipment
breakdowns and delays, exploration cost overruns, availability of
capital and financing, general economic, market or business
conditions, regulatory changes, timeliness of government or
regulatory approvals and other risks detailed herein and from time
to time in the filings made by Fire River with securities
regulators. Fire River expressly disclaims any intention or
obligation to update or revise any forward-looking statements
whether as a result of new information, future events or otherwise
except as otherwise required by applicable securities
legislation.
SOURCE Fire River Gold Corp.