Toronto, Ontario–(Newsfile Corp. – August 31, 2015) – Further to its previous Press Release dated June 9th 2015, Highvista Gold Inc. (TSXV: HVV) (“Highvista” or the “Company”) is pleased to announce that it is proceeding with its change of business process to an investment company and that it will focus primarily in IT, cloud-based and other areas of specialty finance and opportunistic investments in the resources sector. “The Company is seeing a very interesting current market opportunity with the potential for equity growth and for yield and distributions, which we believe investors are looking for today. We see the potential to build a focused portfolio of investments in areas that are attracting expansion capital and could see attractive capital appreciation. These areas of focus also highlight the deal flow generation capability and extensive financial market experience of management and our Board of Directors and their respective networks” states Paul Crath, President and CEO.
Highvista also announces that Alamos Gold Inc. (“Alamos”), the successor company to AuRico Gold Inc (“Aurico”) as a result of the business combination completed July 2, 2015 has provided notice to terminate the Option and Joint Venture Agreement signed between AuRico and Highvista with respect to the Canasta Dorada project (the “Project”). The reason for the decision is for Alamos to focus its capital and activities on certain other more advanced development projects in its extensive portfolio of properties in other locations. Pursuant to the Agreement, in addition to the $1 million invested to date, Alamos would have had an obligation to invest $2 million prior to June 28, 2016 to earn a 51% ownership interest in the Property. The termination of the Agreement, that contained certain restrictions including a right of first refusal to Alamos, now allows the Company to actively pursue alternative joint ventures and strategic transactions or investment structures for all or a portion of its mining investment portfolio with other parties to attempt to maximize value.
Highvista is in the process of changing its business to an investment company focused on Information Technology Cloud-based specialty finance, lending, financial technology and opportunistic investment in various areas including resources.
Highvista owns 100% of a Mexican subsidiary that controls the 24,055 hectare Canasta Dorada Gold Project and various other properties in Sonora, Mexico. Its properties are located in the Sonoran Gold Belt, with the Canasta Dorada Gold Project located immediately adjacent to Alamos Gold’s El Chanate Mine (“Alamos”). Details of Highvista’s Canasta Dorada Project can be viewed at the Company’s website at http://ift.tt/1yqi5GZ.
This news release may contain forward-looking statements based on assumptions, uncertainties and management’s best estimate of future events. Actual events or results could differ materially from the Company’s expectations and projections. Investors are cautioned that forward-looking statements involve risks and uncertainties. Accordingly, readers should not place undue reliance on forward-looking statements. When used herein, words such as “anticipate”, “will”, “intend” and similar expressions are intended to identify forward-looking statements. For a more detailed discussion of such risks and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements, refer to Highvista Gold Inc.’s filings with Canadian securities regulators available on www.sedar.com or the Company’s website at http://ift.tt/1yqi5GZ.
For further information, please contact:
Highvista Gold Inc.
Paul Crath, President
Tel: (416) 682-2674
Fax: (416) 504-4129
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