| Batero Bid Remains the Best Option for CB Gold Shareholders | |
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TORONTO, ON--(Marketwired - September 15, 2015) - Batero Gold Corp. ("Batero") (TSX VENTURE: BAT) would like to thank CB Gold Inc. ("CB Gold") shareholders for their support throughout the bid process. We have responded to your interest in a higher bid with additional consideration and a cash or shares alternative (the "Batero Offer"). There is still time left to tender to the Batero Offer despite Red Eagle Mining Corporation's ("Red Eagle") tactics. Batero's offer continues to deliver more value than Red Eagle's. The Batero Offer remains open until 11:59 p.m. (Vancouver time) on Friday, September 18, 2015. Batero has the financial and technical capacity to develop Vetas -- Red Eagle's potential cash flows will be diverted away from shareholders. Red Eagle's equity value is at serious risk. Red Eagle has sold the upside in its project to private equity funds and a mining contractor who are not aligned with the interests of all shareholders. They have taken advantage of this control position to extract dilutive royalties, production payments and provide excessive debt. Shareholder interests are subordinate to these groups. Red Eagle does not have any spare resources to dedicate to the development of the Vetas Gold project. On the other hand, Batero, with Consorcio Minero Horizonte ("CMH") as their strategic partner, is fully dedicated to the development of the Vetas Gold project. CMH's long term track record is indisputable. CB Gold shareholders will benefit from its success in developing underground narrow vein gold projects throughout all market conditions. How to Tender CB Gold Common Shares to the Batero Offer All questions regarding the Batero Offer and how to tender CB Gold Common Shares to the Batero Offer should be directed to Kingsdale Shareholder Services, the information agent and depository, at 1-866-581-0506 (North American Toll-Free) or +1-416-867-2272 (Collect Calls) or by email at contactus@kingsdaleshareholder.com. About Batero Batero is a precious and base metals exploration and development company focused on moving the La Cumbre oxide deposit toward a production decision. Once the appropriate level of study has been completed, Batero intends to target the near surface higher grade oxidized gold mineralization at the deposit. Batero is also pursuing opportunities to acquire prospective high-grade, production focused mineral properties in Colombia and Latin America. In pursuing these objectives, Batero plans to leverage its secure treasury position, strong regional relationships, experienced management team, and long-term financial partners. Common shares of the Vancouver-based company trade on the TSXV under the symbol "BAT". 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.
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Batero Gold Corp
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EXPLORATION STAGE |
CODE : BAT.V |
ISIN : CA0705051021 |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Batero Gold is a gold exploration company based in Canada. Its main exploration property is BATERO QUINCHIA in Colombia. Batero Gold is listed in Canada. Its market capitalisation is CA$ 2.9 millions as of today (US$ 2.3 millions, € 2.0 millions). Its stock quote reached its highest recent level on March 04, 2011 at CA$ 6.57, and its lowest recent point on September 08, 2023 at CA$ 0.02. Batero Gold has 115 182 383 shares outstanding. |