La Ronge Signs Extension for Canfrac Sands Ltd. Transaction
June 20 2014 - 3:39PM
Marketwired
La Ronge Signs Extension for Canfrac Sands Ltd. Transaction
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Jun 20, 2014) - La
Ronge Gold Corp. ("La Ronge" or the "Company") (TSX-VENTURE:LAR).
Further to its news release of May 5, 2014, La Ronge announces that
the La Ronge and Canfrac Sands Ltd. ("Canfrac") have agreed to
extend the closing date for La Ronge's acquisition of the assets
and business of Canfrac up to August 26, 2014. In connection
therewith, La Ronge will release its $1 million deposit, currently
held in escrow, to Canfrac on a reimbursement basis so that Canfrac
can complete its capital expenditure program to upgrade and improve
the assets for the benefit of La Ronge prior to closing.
For further details regarding the acquisition, Canfrac and the
second tranche of La Ronge's concurrent financing comprised of up
to 28,000,000 in subscription receipts at a price of $0.25 per
subscription receipt for gross proceeds of $7,000,000, please refer
to La Ronge's news release dated May 5, 2014. Completion of the
transaction and the second tranche of financing remains subject to
a number of conditions, including the receipt of all necessary
regulatory approvals, including the final approval of the TSX
Venture Exchange.
About La Ronge Gold Corp.
La Ronge is actively engaged in diversifying its mining assets
portfolio into sectors other than precious metals. The intent of
this strategy is to identify and acquire strategic investments that
have the capability to generate cash flow with low capital
expenditure costs. This mining asset diversification strategy is
limited geographically to Canada at the present time. La Ronge is a
Vancouver-based resource growth and development company. The
Company owns high-grade gold deposits in one of Canada's emerging
gold producing regions, the La Ronge Gold Belt, northern
Saskatchewan. La Ronge also holds other gold projects located in
Ontario and Saskatchewan.
For more information about La Ronge Gold Corp., please go to
www.larongegold.com.
Cameron Bartsch, M.Sc., P.Geo., of Tetra Tech EBA, a Qualified
Person as defined by National Instrument 43-101, has reviewed the
scientific and technical information disclosed in this News Release
and has approved its dissemination.
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.
FORWARD-LOOKING
INFORMATION
This News Release includes forward-looking information and
statements, which may include, but are not limited to, information
and statements regarding or inferring the future business,
operations, financial performance, prospects, and other plans,
intentions, expectations, estimates, and beliefs of the Company.
Information and statements which are not purely historical fact are
forward-looking statements. Forward-looking information and
statements involve and are subject to assumptions and known and
unknown risks, uncertainties, and other factors which may cause
actual events, results, performance, or achievements of the Company
to be materially different from future events, results,
performance, and achievements expressed or implied by
forward-looking information and statements herein. Although the
Company believes that any forward-looking information and
statements herein are reasonable, in light of the use of
assumptions and the significant risks and uncertainties inherent in
such information and statements, there can be no assurance that any
such forward-looking information and statements will prove to be
accurate, and accordingly readers are advised to rely on their own
evaluation of such risks and uncertainties and should not place
undue reliance upon such forward-looking information and
statements. Any forward-looking information and statements herein
are made as of the date hereof, and except as required by
applicable laws, the Company assumes no obligation and disclaims
any intention to update or revise any forward-looking information
and statements herein or to update the reasons that actual events
or results could or do differ from those projected in any
forward-looking information and statements herein, whether as a
result of new information, future events or results, or otherwise,
except as required by applicable laws.
La Ronge Gold Corp.Rasool Mohammad, B.Sc. (Mining)President
& CEO604 639-4533604 685-3765www.larongegold.com
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