VANCOUVER, Oct. 18, 2017 /CNW/ - MX Gold Corp.
(TSX-V: MXL) (FSE: ODV) (OTCQX: MXLGF) (the "Company" or
"MX Gold") is pleased to announce that CEO Dan Omeniuk and his technical team have
completed a site visit and initiated a due diligence review of
Symple Internet Financial Ltd. ("Symple"), an arm's length
private British Columbia company
based in Manitoba. As disclosed in a news release dated
October 13, 2017, MX Gold has entered
into a letter of intent to acquire all of the shares of
Symple.
Dan Omeniuk describes
Albert Buu, the principal of Symple,
as a trailblazer in the blockchain/crypto currency mining sector
who anticipated future opportunities in the growing industry,
including the growth of crypto currencies as an asset class for
financial diversification by industry participants. Symple
operates in a 5,000 square foot leased facility in Manitoba with the possibility to expand in the
future under current leases. As part of its due diligence, MX
Gold is modelling potential expansion of the existing site which
benefits from having access to highspeed internet access and
making sure there is ample cooling and ventilation in the building
and most importantly, very competitive energy costs.
CEO Dan Omeniuk comments, "We are
excited at the prospect of working with Albert Buu in connection with the acquisition of
Symple. We are currently negotiating the definitive agreement
and finalizing due diligence on the proposed transaction.
Personally, I am also looking forward to working with Albert Buu in Manitoba, a place where I've done business for
nearly 40 years. I truly believe that the sector can provide
our shareholders with a unique angle to differentiate ourselves
from other mining companies."
About MX Gold
MX Gold is a junior mining company focused on the exploration
and development of advanced projects located in Mexico and British
Columbia, Canada. The company's primary focus, is the
Magistral del Oro tailings project
located 392 km SW of Chihuahua and includes a 500
tonnes-per-day dynamic cyanide countercurrent system plant
constructed in 2013, which the Company plans to expand to 1,000
tonnes-per day. The Company also owns 50% of the IDS
Project, which includes a smelter that was completed in 2014
for a throughput capacity of 50 tonnes per day. The smelter was
built to receive and process material from small-scale miners
across the state of Durango and beyond. MX Gold has acquired a
substantial land package of approximately 22,881 acres in the heart
of the Golden Triangle. The Company's primary focus in
British Columbia is its Willa gold
and copper project located 12 kilometers south of Silverton, B.C. In 2015, MX Gold Corp.
completed the accretive acquisition of the Willa project and the
Max Molybdenum Mine and Mill Complex. The Willa mine is located 135
kilometers south of the Max Mill. MX Gold Corp. can also elect to
reopen the Max Molybdenum mining operation once world Moly prices
improve. For updates on the Company's projects please visit our
website. www.mxgoldcorp.com
On behalf of the Board of Directors,
"Akash Patel"
Akash Patel, Vice President and
Director, MX Gold Corp.
Statements in this news release that are not historical facts
are forward-looking statements. Forward-looking statements
are statements that are not historical, and consist primarily of
projections - statements regarding future plans, expectations and
developments. Words such as "expects", "intends", "plans",
"may", "could", "potential", "should", "anticipates", "likely",
"believes" and words of similar import tend to identify
forward-looking statements. Forward-looking statements in
this news release include the anticipation of entering into
and closing a definitive agreement with respect to the acquisition
of Symple. All of these forward-looking statements are
subject to a variety of known and unknown risks, uncertainties and
other factors that could cause actual events or results to differ
from those expressed or implied, including, without limitation: the
Company's ability to enter into and close the definitive agreement
and acquire Symple; the ability to obtain Exchange approval with
respect to the transactions; MX Gold's ability to attract and
retain qualified personnel and management, including the proposed
consulting agreement with Mr. Buu; and the ability of the Company
to fund its operations, as well as other risks and uncertainties
identified under the heading "Risk Factors" in the Company's
continuous disclosure documents filed on SEDAR. You are
cautioned that the foregoing list is not exhaustive of all factors
and assumptions which may have been used. MX Gold cannot
assure you that actual events, performance or results will be
consistent with these forward-looking statements, and management's
assumptions may prove to be incorrect. These forward-looking
statements reflect current expectations regarding future events and
operating performance and speak only as of the date hereof and MX
Gold does not assume any obligation to update forward-looking
statements if circumstances or management's beliefs, expectations
or opinions should change other than as required by applicable law.
For the reasons set forth above, you should not place undue
reliance on forward-looking statements.
Neither the TSX Venture Exchange Inc. nor its Regulation
Service Provider (as that term is defined in the policies of the
TSX Venture Exchange Inc.) accepts responsibility for the
adequacy or accuracy of this press release.
SOURCE MX Gold Corp.
