VANCOUVER,
Sept. 16, 2015
/CNW/ - Red Eagle Mining Corporation (TSX-V:
RD, OTCQX: RDEMF, SSE-V: RDCL) has purchased a further
2,566,000 common shares (the "Shares") of CB Gold Inc.
("CB Gold") on certain public markets, including the Toronto
Stock Exchange Venture.
Red Eagle Mining has previously disclosed in its take-over
bid circular in respect of its offer to acquire all of the issued
and outstanding Shares of CB Gold (the "Offer"), that it may
purchase Shares in the open market during the period of the Offer.
Today's highest price paid for the Shares was $0.065. An aggregate of 6,575,000 Shares have
been purchased in the open market since the commencement of Red
Eagle Mining's Offer on June
30, 2015 for an average price $0.06. After today's purchase, Red Eagle Mining
owns a total of 83,480,198 Shares of CB Gold, representing 46% of
the total outstanding Shares of CB Gold.
About Red Eagle Mining
Red Eagle Mining is a well-financed gold exploration and
development corporation with an experienced mine-development
team. Management is focused on building
shareholder value through discovering and developing gold projects
with low costs and low technical risks in Colombia, a jurisdiction with prolific
historic production but until recently limited modern
exploration. Red Eagle Mining is developing the
100 square kilometre historic Santa Rosa Gold Project located in
the Antioquia Batholith. Construction is
underway at the fully permitted and fully financed San Ramon Gold
Mine with production expected to commence in the second half of
2016.
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. This news release
includes forward-looking statements that are subject to risks and
uncertainties. All statements within, other than
statements of historical fact, are to be considered forward
looking. Although the Company believes the
expectations expressed in such forward-looking statements are based
on reasonable assumptions, such statements are not guarantees of
future performance and actual results or developments may differ
materially from those in forward-looking statements.
Factors that could cause actual results to
differ materially from those in forward-looking statements include
market prices, exploitation and exploration successes, continued
availability of capital and financing, and general economic, market
or business conditions. There can be no
assurances that such statements will prove accurate and, therefore,
readers are advised to rely on their own evaluation of such
uncertainties. We do not assume any obligation
to update any forward-looking statements. This news release does
not constitute an offer to sell or a solicitation of an offer to
sell any securities in the United
States. The securities have not been and
will not be registered under the United States Securities Act of
1933, as amended (the "U.S. Securities Act") or any state
securities laws and may not be offered or sold within the United States or to U.S. Persons unless
registered under the U.S. Securities Act and applicable state
securities laws or an exemption from such registration is
available.
SOURCE Red Eagle Mining Corporation