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Castle Gold Corporation

Publié le 16 juillet 2009

Provides Update on Strategic ...

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Castle Gold Corporation

TSX VENTURE:

CSG

 

 

 

 

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July 16, 2009

Castle Gold Provides Update on Strategic Alternative Review Process

TORONTO, ONTARIO--(Marketwire - July 16, 2009) - CASTLE GOLD CORPORATION ("Castle Gold") (TSX VENTURE:CSG) is pleased to provide a further update from the Mergers & Acquisitions Committee ("Committee") on the strategic alternative review ("SAR") process.

The calibre of the final candidates selected is very high and the advancements achieved, in the final stage of the SAR process, are very encouraging. Prior to the recent deadline for submission of final binding offers, two of the candidates requested more time to complete their detailed technical and financial evaluations in consideration of potentially submitting a final, binding offer or definitive agreement. The Committee met to consider these requests and decided to grant them.
The Committee believes that granting the requested extension to permit completion of the remaining detailed due diligence, provides the greatest potential benefit for Castle Gold shareholders.

The Committee is pleased with the discussions, negotiations, progress, and submissions held with and received from the selected candidates to date. However, the Committee is not able to announce any specifics on the advancements made in this regard for confidentiality reasons. The Committee does not plan to provide a further M&A update until there is either an announce able event, such as the selection and execution of one final definitive agreement for a strategic transaction, or, alternatively, the Committee elects to proceed with its alternate aggressive organic growth strategy for maximising shareholder value as discussed in our most recent news release.

The Committee will continue to proceed with patience and vigilance, actively working with the candidates to advance their final evaluations. This work is very time consuming to complete with one candidate, and is extremely time consuming to effectively complete with multiple candidates. As such, the Committee appreciates the support and patience of Castle Gold's shareholders. The Committee plans to communicate to shareholders the final results of the SAR process at the appropriate time.

Please note that final terms and conditions of any possible strategic transaction with any of the foregoing candidates, including final price and final transaction structure, have not been finalized into a mutually acceptable definitive agreement. There can be no assurance that, as a result of the SAR and the foregoing activities, a mutually acceptable definitive agreement with another party will be reached, or that one will occur. If a mutually acceptable definitive agreement for a strategic transaction is reached with another party, such transaction would be subject to a number of closing conditions which may or may not be satisfied.

Forward Looking Statements

Certain statements in this press release constitute "forward-looking" statements that involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Castle Gold to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. When used in this news release, words such as "plans", "hope", "encouraging", and "expects" and similar expressions to the extent they relate to Castle Gold are intended to identify forward-looking statements. There is no assurance that any strategic transaction will be completed. Unless required by applicable securities law, Castle Gold does not assume any obligation to update forward-looking statements.

About Castle Gold

Castle Gold Corporation is a growth oriented gold producer with projects focused in the America's. The Company owns a 100% interest in the El Castillo gold mine in Mexico and a 50% interest in the El Sastre gold mine in Guatemala. Castle Gold is also advancing exploration and development work at its La Fortuna gold-silver-copper project in Mexico.

 
For general inquiries, not related to confidential M&A related information,
please contact:
 
Thomas Atkins                  or   Rory Quinn
President and CEO                   Manager Investor and Public Relations
                  Tel: 416 214 4809 or Toll Free: 1 866 646 3274 
 
or by fax: 416 366-7421, email: info@castlegoldcorp.com or visit our
website: www.castlegoldcorp.com.
 
-----------------------------------------------------------
TSX-V Trading Symbol:                                   CSG
Total Shares Outstanding:                            75.3MM
Fully Diluted:                                       82.8MM
52-Week Trading Range:                       C$0.15 - $0.80
-----------------------------------------------------------

 




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.

 

CONTACT INFORMATION:

Castle Gold Corporation
Thomas Atkins
President and CEO
416 214 4809 or Toll Free: 1 866 646 3274
Fax: 416 366 7421

or

Castle Gold Corporation
Rory Quinn
Manager Investor and Public Relations
416 214 4809 or Toll Free: 1 866 646 3274
Fax: 416 366 7421
info@castlegoldcorp.com
www.castlegoldcorp.com

INDUSTRY: Manufacturing and Production - Mining and Metals

 

 

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Castle Gold Corporation

PRODUCTEUR
CODE : CSG.V
ISIN : CA22122T1030
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Castle Gold Corp. est une société de production minière d'or basée au Canada.

Castle Gold Corp. est productrice d'or, d'argent au Guatemala et au Mexique.

Ses principaux projets en production sont EL SASTRE GOLD MINE, EL SASTRE, EL SASTRE - EL ARENAL, EL SASTRE BRIDGE ZONE et EL SASTRE - LUPITA ZONE au Guatemala et EL CASTILLO MINE au Mexique et son principal projet en exploration est LA FORTUNA DURANGO au Mexique.

Castle Gold Corp. est cotée au Canada et aux Etats-Unis D'Amerique. Sa capitalisation boursière aujourd'hui est 776 300 CA$ (596 819 US$, 545 553 €).

La valeur de son action a atteint son plus haut niveau récent le 18 janvier 2008 à 0,75 CA$, et son plus bas niveau récent le 30 juillet 2015 à 0,01 CA$.

Castle Gold Corp. possède 77 630 000 actions en circulation.

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Rapports annuels de Castle Gold Corporation
Annual Report 2007
Financements de Castle Gold Corporation
25/06/2014Cosigo announces non-brokered private placement
Nominations de Castle Gold Corporation
24/11/2014Cosigo announces resignation of two directors
02/07/2008Appoints New Chief Financial Officer and Manager of Investor...
Rapports Financiers de Castle Gold Corporation
25/11/2009Reports Third Quarter 2009 Operating and Financial Results
26/08/2009Reports Second Quarter 2009 Operating and Financial Results
23/01/2009(El Castillo Mine)Increase in Fourth Quarter 2008 Production
27/11/2008Third Quarter Financial Results
20/06/2008Files Q1-2008 Financial Statements Indicating First Quarter ...
13/06/2008Filing Of First Quarter Financial Statements Delayed Cease T...
07/09/2007Records Strong Second Quarter Results: Cash Costs Fall To $1...
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09/11/2009(La Fortuna Durango)Reports Up to 39 Grams Per Tonne Gold and Up to 1,500 Grams ...
21/10/2009(El Castillo Mine)Q3-2009 Operating Performance-El Castillo Gold Production In...
21/07/2009(El Castillo Mine)Operation of Remaining New Equipment Fleet at El Castillo Mi...
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21/05/2009(El Castillo Mine)Intersects 109.7 Metres Grading 0.7 Grams Per Tonne Gold
02/03/2009(El Castillo Mine)Commences Drill Program to Test Gold Resource Expansion Pote...
24/02/2009(El Castillo Mine)625,000 Ounce Transition/Sulphide Zone Gold Resource Below E...
02/12/2008(La Fortuna Durango)Completes Phase 1 of Metallurgical Studies for La Fortuna Pr...
12/11/2008(La Fortuna Durango)43-101 Technical Report
20/08/2008(El Castillo Mine)Reports Enhanced Resources And Reserves And Resulting Increa...
11/08/2008(El Castillo Mine)Attains Commercial Production At Its El Castillo Gold Mine...
16/01/2008(La Fortuna Durango)Commences Drilling at La Fortuna Gold Project
10/01/2008(El Castillo Mine)Updates Progress at Castillo Mine
Communiqués de Presse de Castle Gold Corporation
03/08/2015Cosigo Requests NEX Listing
06/07/2015Cosigo Appoints Officers
11/05/2015IIROC Trading Halt - CSG
29/04/2015IIROC Trading Resumption - CSG
27/04/2015Cosigo Board Structures Acting Positions
07/03/2015Cosigo Board Appoints Two New Members
23/02/2015Cosigo Board and Management Resign
18/02/2015IIROC Trading Halt - CSG
26/11/2014Cosigo Engages Financial Advisory Services
15/10/2014Cosigo announces formation of strategic committee; Provides ...
31/07/2014Cosigo Resources Ltd. - President's Update
04/02/2014Cosigo reports further gold-bearing intercepts at Machado
20/12/2013Cosigo intersects gold in initial two drill holes at Machado
09/12/2013Cosigo adds Romero as Colombia Business Advisor
18/06/2013Cosigo Resources Ltd. Closes $1,113,775 Private Placement
21/05/2013Cosigo Resources announces non-brokered private placement
30/12/2009Over 90% of Castle Gold Shares Tenderedto Argonaut Offer-Arg...
15/12/2009Reminds Shareholders to Tender to Argonaut Gold Cash Offer
24/11/2009Provides an Update on Argonaut Gold Cash Offer
18/11/2009Closes Financing & Provides Up
30/10/2009 Management Change
28/10/2009Argonaut Gold Seeks to Acquire Castle Gold for a Minimum of ...
16/07/2009Provides Update on Strategic Alternative Review Process
18/06/2009Provides Update on Strategic Alternative Review Process
28/05/2009Reports Record Quarterly Gold Production and $0=2E01 Per Sha...
02/03/2009Committee Update and Shareholder Rights Plan
05/11/2008Announces Stock Repurchase Program
30/09/2008(CSG) at Toronto Cambridge Resource Investor Conference Oct...
26/09/2008Provides Update on Corporate Restructuring Initiatives
10/09/2008Announces Change to Its Board of Directors
04/07/2008Announces Results of Annual General Meeting
27/09/2007Sells First El Castillo Gold At Us $715 Per Ounce
17/09/2007Announces Early Exercise Warrant Incentive Amendment
11/09/2007 presenting at the 2007 Annual Resource Investors Forum in S...
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