TriStar Amends Purchase Agreement for the Castelo de Sonhos Property
06 February 2014 - 3:09AM
Business Wire
TriStar Gold Inc. (the “Company” or “TriStar”) announces that it
has entered into an amending agreement with the vendor of the
Castelo de Sonhos property in Brazil to extend the due dates of the
remaining payments to the vendor. Under the amending agreement, a
payment of US$300,000 due in March of this year has been amended to
three payments of US$100,000 each payable over the next 11 months,
with the first such payment due on March 13, 2014. The final
payment, in the amount of US$1,425,000 formerly due in September
2014, has been increased by US$75,000 and is deferred until July
2015. In addition, under the amending agreement, the Company has
agreed to issue 1,000,000 shares of the Company to the vendor and
pay US$3,600,000 out of production from the property over and above
its royalty. At its option, TriStar may pay to the vendor
US$1,500,000 on or prior to the making of a construction decision
in lieu of the payment out of production. The issuance of the
1,000,000 shares under amending agreement is subject to acceptance
for filing by the TSX Venture Exchange.
About TriStar:
TriStar Gold is a gold exploration company focused on
high-potential properties in Brazil. In addition to Castelo de
Sonhos, TriStar holds another exploration project in the Tapajós
district known as the Bom Jardim Property. The Company’s shares are
listed on the TSX Venture Exchange under the symbol TSG-V. Further
information is available at www.Tristarau.com.
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. No stock exchange, securities commission
or other regulatory authority has approved or disapproved the
information contained herein.
Forward-Looking Statements
Certain statements contained in this press release may
constitute forward-looking statements under Canadian securities
legislation which are not historical facts and are made pursuant to
the "safe harbour" provisions under the United States Private
Securities Litigation Reform Act of 1995. Such forward-looking
statements are based upon the Company's reasonable expectations and
business plan at the date hereof, which are subject to change
depending on economic, political and competitive circumstances and
contingencies. Readers are cautioned that such forward-looking
statements involve known and unknown risks, uncertainties and other
factors that may cause a change in such assumptions and the actual
outcomes and estimates to be materially different from those
estimated or anticipated future results, achievements or position
expressed or implied by those forward-looking statements. Risks,
uncertainties and other factors that could cause the Company's
plans to change include changes in demand for and price of gold and
other commodities (such as fuel and electricity) and currencies;
changes or disruptions in the securities markets; legislative,
political or economic developments in Brazil; the need to obtain
permits and comply with laws and regulations and other regulatory
requirements; the possibility that actual results of work may
differ from projections/expectations or may not realize the
perceived potential of the company’s projects; risks of accidents,
equipment breakdowns and labour disputes or other unanticipated
difficulties or interruptions; the possibility of cost overruns or
unanticipated expenses in development programs; operating or
technical difficulties in connection with exploration, mining or
development activities; the speculative nature of gold exploration
and development, including the risks of diminishing quantities of
grades of reserves and resources; and the risks involved in the
exploration, development and mining business. The Company disclaims
any intention or obligation to update or revise any forward-looking
statements whether as a result of new information, future events or
otherwise.
TriStar Gold Inc.Mark Jones III, 281-579-3400Chairman and
CEOinfo@tristarau.com
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