Chaparral Gold Provides Update on Consideration Payable in Plan of Arrangement
Chaparral has not yet received the required consent to assign the Receivable to Fund II. This condition may be waived by Goldrock, Waterton and Fund II, at their sole discretion. If the Junefield consent is not received by February 2, 2015 then the Arrangement may be terminated by any party thereto. The Company continues to work to obtain the Junefield consent.
About Chaparral Gold
Chaparral is a Nevada-focused precious metals company currently in the permitting phase at the 100%-owned Gemfield deposit at the Goldfield property in central Nevada. In addition to the Goldfield property, Chaparral holds a 100% interest in the Converse property, also located in Nevada.
Some of the statements contained in this release are "forward-looking statements" within the meaning of Canadian securities law requirements. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements in this release include the closing of the proposed plan of arrangement and the Company's ability to receive in full the amounts owing under the Receivable and the receipt of Junefield's consent to the assignment of the Receivable from the Company to Fund II. Factors that could cause actual results to differ materially from anticipated results include risks and uncertainties such as: risks relating to whether or not the approved plan of arrangement is ultimately concluded and the results of any negotiations with Junefield with respect to the Receivable and Junefield's consent to the assignment of the Receivable.
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, except as required pursuant to applicable securities laws.
For additional information, contact:
In North America: Nick Appleyard
Tel: 1 480 483 9932
In Europe: Oliver Holzer
Tel: +41 44 853 00 47
E-mail the Company at: email@example.com
Web Site: www.chaparralgold.com