TOM Amilot Capital Inc

Tolima Gold Inc. ("Tolima" or the "Company") (TSX VENTURE:TOM) is pleased to
announce that it has entered into an amending agreement (the "Amending
Agreement") amending the terms of the binding letter agreement (the "LOI") with
IAMGOLD Corporation (TSX:IMG)(NYSE:IAG) ("IAMGOLD") dated October 4, 2012.


Pursuant to the Amending Agreement, section 4(a) of the LOI will be amended to
modify the terms and conditions of the consideration to be paid or provided by
IAMGOLD for purposes of exercising the 51% Option (as defined in the LOI),
particularly to clarify: (i) that the first US$3,000,000 of Qualifying Expenses
(as defined in the LOI) is no longer a firm obligation of IAMGOLD and,
therefore, if IAMGOLD decides not to exercise the 51% Option, it will not be
obligated to pay to Tolima any shortfall of US$3,000,000 in Qualifying Expenses;
and (ii) the final earn-in payment will be either the expenditure of
US$6,000,000 of Qualifying Expenses or the drilling of not less than 12,000
meters of Qualifying Drilling (as defined in the LOI), whichever comes first. 


As consideration for the entering into of the Amending Agreement, IAMGOLD has
agreed to advance Tolima US$354,600 upon signing of the Amending Agreement to
cover current liabilities in Marmato Gold S.A. Sucursal S.A. The advance will be
considered Qualifying Expenses under the Amending Agreement. 


Jaime Lopez, the Chief Executive Officer of Tolima, stated: "We are pleased to
have brought in some needed funds to cover current liabilities in Marmato and
look forward to the continued support of IAMGOLD in the exploration and
development of the ANCAL project. IAMGOLD is actively exploring the ANCAL
project with the objective of identifying and prioritizing drill targets for
testing later this year, subject to receipt of necessary permits and has
invested approximately US$1.7 million, including cash payments totaling US$1.0
million, pursuant to the terms of the LOI."


Related Party Disclosure

IAMGOLD currently holds approximately 13% of the issued and outstanding common
shares of Tolima, and is considered an "Insider" within the meaning of the
policies of the TSX Venture Exchange (the "TSV-V"). 


Due to IAMGOLD's approximate 13% share ownership in Tolima, IAMGOLD is also a
"Related Party" to Tolima within the meaning of Multilateral Instrument 61-101
("MI 61-101"), and the Amending Agreement constitutes a "Related Party
Transaction" for Tolima. Tolima is exempt from the formal valuation requirements
and minority shareholder approval requirements of MI 61-101 since the fair
market value of theconsideration received by Tolima pursuant to the Amending
Agreement does not exceed 25% of Tolima's market capitalization. The terms of
the Amending Agreement have been considered by each member of the board of
directors of Tolima and have been unanimously approved. The Company intends to
file a material change report more than twenty-one days prior to the entering
into of the Amending Agreement. Tolima was not in a position to file a material
change report more than twenty one days in advance of the entering into of the
Amending Agreement as the details of the transaction were settled on an
expedited basis for sound business reasons.


Information Concerning Tolima

Tolima is a gold exploration, development and production company with interests
in mining properties in Colombia. Tolima's properties include the Remedios
Project, located in the Remedios/Segovia mining district in the Antioquia
Department of Colombia, with over 11,500 hectares of exploration ground, two
mines (the "San Pablo" and "Bartola" mines) and a gold processing and recovery
plant located in the area of "San Pablo" with a capacity of 100 tons per day;
the ANCAL Project, located in the Marmato/Caramanta district of the Caldas and
Antioquia Departments of Colombia, including more than 14,000 hectares of
exploration ground; and the NORTOL project, located in the Tolima Department of
Colombia, including more than 48,000 hectares of exploration ground and the
"Papayo" mine, which is being rehabilitated. Tolima is continuing to explore
opportunities for the acquisition of additional mining interests in prospective
mining districts in Colombia.


Cautionary Statements 

Some of the ownership interests in the Company's mining properties derive from
applications for concessions or mining titles beneficially held, which are
subject to formal assignment to theCompany's operating subsidiaries. Such
applications and assignment are subject to review by the relevant mining
authority and to registration before the National Mining Registry of Colombia in
order to confirm current compliance with the terms of each mining property and
meeting with certain legal, financial and technical criteria. There is no
certainty as to if or when issuance of mining titles from applications or formal
registration of assignments will be achieved. 


Forward-looking statements 

This news release contains certain "forward looking statements" including, for
example, the ability of Tolima to achieve formal assignment and registration of
its mining properties and the ability to carry out exploration activities. Such
forward-looking statements involve risks and uncertainties, both known and
unknown. The results or events depicted in these forward-looking statements may
differ materially from actual results or events. In addition to other factors
and assumptions which may be identified herein, assumptions have been made
regarding and are implicit in, among other things: receipt of government and
third party approvals in respect of transferring assets, the state of the
capital markets; tax issues associated with doing business internationally, the
ability to successfully manage the political and economic risks inherent in
pursuing mineral exploration opportunities in Colombia; and the ability to
obtain qualified staff, equipment and services in a timely and cost efficient
manner to develop the business. Any forward-looking statement speaks only as of
the date of this news release and, except as may be required by applicable
securities laws, Tolima does not intend, and disclaims any duty or obligation
to, update or revise any forward-looking statements, whether as a result of new
information, future events or results or otherwise. 


NEITHER THE 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.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Lisa-Marie Iannitelli
Toronto
+1 647 476 7577
lm@tolimagold.com


Marcela Ospina
Colombia
+57 4 444 7479
mospina@tolimagold.com

Amilot Capital (TSXV:TOM)
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부터 5월(5) 2024 으로 6월(6) 2024

Amilot Capital (TSXV:TOM)
과거 데이터 주식 차트
부터 6월(6) 2023 으로 6월(6) 2024