BCGold Corp.

Published : April 20th, 2016

BCGold Corp. Announces Revisions To Peruvian Transaction, Updates Private Placement

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Keywords :   Copper | Georgia | Gold | Junior | Peru | Sac |

BCGold Corp. Announces Revisions To Peruvian Transaction, Updates Private Placement

20-Apr-2016

BCGold Corp. Announces Revisions To Peruvian Transaction, Updates Private Placement

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Vancouver, British Columbia, April 20, 2016 (TSX-V: BCG) - BCGold Corp. ('BCGold' or the 'Company'). Further to its news release of April 14, 2016 (the 'Release') the Company announces that it has agreed to certain revisions to the structure of its proposed acquisition of certain Peruvian companies (the 'Transaction') holding the Chanape and Pucacorral mineral concessions (the 'Properties'). As revised the Company will acquire the shares of Circum Pacific Holdings Ltd. ('Circum-Pacific') a closely held British Columbia company which is the majority owner of the shares of Minera Chanape SAC ('Chanape') and Cima de Oro S.A.C. ('Cima'), the holders of the Properties, in lieu of directly acquiring Circum-Pacific's shares in Chanape and Cima. The overall consideration payable in connection with the Transaction as detailed in the Release, being a total of up to 30,000,000 shares of BCGold and $60,000 remains the same, with two-thirds of such consideration now being issued to the shareholders of Circum-Pacific.

It is also proposed that the 8,000,000 shares of BCG to be issued for the account of the shareholders of Cima in connection with the payments to be made to acquire the shares of SMRL Cerro de Oro Tres ('Tres'), the holder of a further 9 concessions in Peru, which shares were to be issued in stages coincidental with the payments related to the purchase of the shares of Tres (the 'Tres Payments') are instead all to be issued on closing of the Transaction, to be held in escrow and released coincidental with the Tres Payments or otherwise upon the occurrence of certain agreed upon events.

The Company also announces that, in addition to relying upon other available prospectus exemptions to effect the $750,000, 15,000,000 Unit private placement disclosed in the Release, the Company intends to rely upon B.C. Instrument 45-536 (distribution through an investment dealer). In this regard the Company advises that it is anticipated that, of the gross proceeds of the private placement, approximately $200,000 will be used to pay the costs associated with the Transaction and the remaining $550,000 will be applied to advance the Properties. The Company further advises that there is no material fact or material change about the Company that has not been generally disclosed.

About BCGold

BCGold is a Vancouver-based junior resource company that has been listed on the TSX Venture Exchange for 10 years, with a focus on copper and gold exploration in British Columbia, Yukon and more recently, Peru. The Company acquires prospective gold and copper-gold exploration properties considered to have significant mineral potential by staking, option or purchase agreements. The Company strives to acquire 100% of these opportunities and after cost-effective and diligent exploration to develop drill targets, option 51-70% of these properties to third parties in return for some multiple of the Company's expenditures. The Company currently has a portfolio of 10 - 100% owned gold and copper-gold properties and 2 partially owned gold properties in B.C. and Yukon. BCGold is actively seeking qualified option partners to advance these properties.

On behalf of the Board of Directors,

Brian P. Fowler, P. Geo.
President & CEO

For further information, please contact:
Brian P. Fowler
Tel: 604-697-2401
Email: [email protected]

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.

Read the rest of the article at www.publicnow.com
Data and Statistics for these countries : Georgia | Peru | All
Gold and Silver Prices for these countries : Georgia | Peru | All

BCGold Corp.

DEVELOPMENT STAGE
CODE : BCG.V
ISIN : CA07330A2020
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BCGold is a gold development stage company based in Canada.

BCGold develops gold, copper and silver in Canada, and holds various exploration projects in Canada.

Its main asset in development is CARMACKS in Canada and its main exploration properties are ENGINEER, VOIGTBERG, SICKLE-SOFIA, TOE PROPERTY and TOODOGGONE in Canada.

BCGold is listed in Canada. Its market capitalisation is CA$ 2.5 millions as of today (US$ 1.8 millions, € 1.7 millions).

Its stock quote reached its highest recent level on April 23, 2010 at CA$ 1.80, and its lowest recent point on January 01, 2016 at CA$ 0.01.

BCGold has 61 730 000 shares outstanding.

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Corporate Presentations of BCGold Corp.
9/11/2009Corporate presentation - September 2009
Annual reports of BCGold Corp.
2008 Annual report
2007 Annual report
Financings of BCGold Corp.
3/30/2010Announces $1.1 Million Non-Brokered Private Placement
8/11/2009Completes $1.0 Million Private Placement Financing
6/24/2009Non-Brokered Private Placement
Project news of BCGold Corp.
7/5/2011(Engineer)Announces Completion of Airborne Geophysics at Engineer Gold...
6/23/2011(Engineer)Commences Work Program at Engineer Gold Mine
3/4/2011(Engineer)BCGold Corp. Announces First Resource Estimate for Engineer ...
7/13/2010(Carmacks)Earns 100% interest in Minto/Carmacks copper-gold properties
10/5/2009(Engineer)Receives Bulk Sampling Report for Engineer Mine Property
9/14/2009(Voigtberg)And Kaminak Gold Corp. Ammend Voigtberg Agreement
7/6/2009(Carmacks)Exploration Update; Carmacks Copper-Gold Properties, Yukon
6/1/2009(Carmacks)Commences Exploration Program on Minto Area
1/13/2009Intersects Copper Zones Over 63.1 Metres and Extends Carmack...
12/2/2008(Engineer)Intersects Low-Grade Gold in Hydrothermal Breccia at Enginee...
7/9/2008(Engineer)COMMENCES DIAMOND DRILL PROGRAM AT ENGINEER MINE PROPERTY, B...
Corporate news of BCGold Corp.
5/2/2016BCGold Corp. Closes First Tranche of Private Placement
4/20/2016BCGold Corp. Announces Revisions To Peruvian Transaction, Up...
4/15/2016BCGold Corp. Announces Proposed Acquistion of Peruvian Land ...
4/15/2016BCGold Corp. Appoints New Chief Financial Officer
3/28/2016BCGold Corp. Announces Wels Property Purchase Not Proceeding
1/25/2016BCGold Corp. Announces Acquisition of New Yukon Gold Discove...
1/25/2016BCGold Corp. Announces Acquisition of New Yukon Gold Discove...
9/19/2015BCGold Corp. Amends Property Agreement with Guardsmen Resour...
7/11/2015BCGold Corp. Sells Mt. Milligan Area Property to Thompson Cr...
4/13/2015BCGold Corp. Receives Final Engineer Mine Research Report: B...
2/25/2015BCGold Corp. Closes Second Tranche of Private Placement and ...
2/17/2015Resignation of CFO
12/18/2014BCGold Corp. Closes First Tranche of Private Placement
11/2/2012Confirms Share Consolidation
9/25/2012(Engineer)Announces 100% Ownership of High-Grade Engineer Gold Mine, M...
7/11/2011Announces CDN $2.4 Million Non-Brokered Private Placement
11/25/2009 Board Changes
9/9/2009Advances Minto Area Properties
9/30/2008Arranges $1.5 Million Financing
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TSX-V (BCG.V)
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