VANCOUVER, Oct 10, 2014 /PRNewswire/ - Veris Gold Corp.
("Veris" or the "Company") announced today that it has
obtained an order from the Supreme Court of British Columbia (the "Court") as of
October 9, 2014 extending the period
of the Court-ordered stay of proceeding against Veris and its
subsidiaries under the Companies' Creditors Arrangement Act
("CCAA") up to and including February 2,
2015.
The Company has been operating under the protection of the CCAA
since June 9, 2014.
All inquiries regarding Veris' CCAA proceedings should be
directed to the Monitor, Ernst & Young, Inc.: Mr. Rocky Ho at (604) 891-8425. Information about
the CCAA proceedings, including copies of all court orders and the
Monitor's reports, is available on the Monitor's website:
www.ey.com/ca/verisgold.
About Veris Gold Corp.
Veris Gold Corp. is a growing mid-tier North American gold
producer in the business of developing and operating gold mines in
geo-politically stable jurisdictions. The Company's primary assets
are the permitted and operating Jerritt Canyon processing plant and
gold mines located 50 miles north of Elko, Nevada, USA. The Company's primary focus
is on the re-development of the Jerritt Canyon mining and
processing plant. The Company also holds a portfolio of precious
metals properties in British
Columbia and the Yukon Territory,
Canada, including the Ketza River Property.
On behalf of
"VERIS GOLD CORP."
François Marland
President and CEO
To be added to the Veris Gold e-mail list please sign up at
www.verisgold.com.
The TSX has not reviewed and does not accept responsibility for
the adequacy or accuracy of this release. All material information
may be accessed at www.sedar.com.
Forward-Looking Statements This news release contains
"forward-looking statements" and "forward-looking information"
within the meaning of applicable securities regulations in
Canada and the United States (collectively,
"forward-looking information"). Forward-looking information
includes, but is not limited to, statements with respect to
estimated mineral resources, anticipated effect of the completed
drill results on the operations at Jerritt Canyon, the
interpretation of those results, and timing and expectations of
future work programs. Often, but not always, forward-looking
information can be identified by the use of words such as "plans",
"expects, "is expected", "budget", "scheduled", "estimates",
forecasts", "intends", "anticipates", or "believes", "has the
potential" or the negatives thereof or variations of such words and
phrases or statements that certain actions, events or results
"may", "could", "would", "might", or "will" be taken, occur or be
achieved. The forward-looking information contained in this
news release is based on certain assumptions that the Company
believes are reasonable, including, with respect to mineral
resource estimates, the key assumptions and parameters on which
such estimates are based, as set out in this news release and the
technical report for the property, that the current price of and
demand for gold will be sustained or will improve, the supply of
gold will remain stable, that the general business and economic
conditions will not change in a material adverse manner, that
financing will be available if and when needed on reasonable terms
and that the Company will not experience any material accident,
labor dispute, or failure of plant or equipment.
However, forward-looking information involves known and unknown
risks, uncertainties and other factors which may cause the actual
results, performance or achievements of the Company to be
materially different from any future results, performance or
achievements expressed or implied by the forward-looking
information. Such factors include, among others, conclusions of
economic evaluations, the risk that actual results of exploration
activities will be different than anticipated, that cost of labour,
equipment or materials will increase more than expected, that the
future price of gold will decline, that mineral resources and
reserves are not as estimated, that actual costs or actual results
of reclamation activities are greater than expected; that changes
in operations may result in increased costs, unexpected variations
in mineral resources and reserves, grade or recovery rates, failure
of plant, equipment or processes to operate as anticipated,
accidents, labour disputes and other risks generally associated
with mining. See our Annual Information Form for additional
information on risks, uncertainties and other related factors.
Although the Company has attempted to identify important factors
that could cause actual results to differ materially from those
contained in forward-looking statements, there may be other factors
that cause results not to be as anticipated, estimated or intended.
There can be no assurance that such statements will prove to be
accurate, as actual results and future events could differ
materially from those anticipated in such statements. Accordingly,
readers should not place undue reliance on forward-looking
statements. The Company does not undertake to update any
forward-looking statements that are incorporated by reference
herein, except in accordance with applicable securities laws.
SOURCE Veris Gold Corp.