ENP Newswire -
Release date- 28052014 -
The Loan will bear interest at a rate of 10% per annum, and will be secured against all of the assets of Marlin and the majority of the assets of its subsidiaries. However, the conditions of the Loan allow for the shares of
In addition to the Loan, the Company has approved an additional non-brokered private placement equity financing for gross proceeds of up to
The Common Shares described herein have not been, and will not be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within
The Company proposes to use the proceeds from the Private Placement, the Loan, and the
There may be circumstances where, for sound business reasons, a reallocation of funds may be deemed prudent or necessary in the Company's sole discretion.
As a result of completing the Loan and the private placement equity financings the Company has cancelled the previously announced public equity offering.
Golden Reign Due Diligence Has Provided Better Than Expected Metallurgical Results
Marlin has substantially completed its due diligence on Golden Reign's San Albino Gold Deposit and is finalizing definitive agreements with Golden Reign in connection with the proposed acquisition of the gold stream and equity investment.
As part of the technical due diligence,
Sonoran planned and provided oversight for the latest metallurgical work performed by the independent, accredited metallurgical and analytical laboratory
Marlin is a publicly-listed company on the
Cautionary statement regarding forward-looking information
This news release contains 'forward-looking statements' within the meaning of applicable securities laws. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by words such as the following: expects, plans, anticipates, believes, intends, estimates, projects, assumes, potential and similar expressions.
Forward-looking statements also include reference to events or conditions that will, would, may, could or should occur, including in relation to statements regarding the closing of the transactions with Golden Reign and the anticipated use of proceeds from the Private Placement.
These forward-looking statements are necessarily based upon a number of estimates and assumptions that, while based on management's expectations and considered reasonable at the time they are made, are inherently subject to a variety of risks and uncertainties which could cause actual events or results to differ materially from those reflected in the forward-looking statements, including, without limitation: uncertainties related to raising sufficient financing to fund the planned work in a timely manner and on acceptable terms; changes in planned work resulting from logistical, technical or other factors; the possibility that results of work will not fulfill projections/expectations and realize the perceived potential of the Company's projects; uncertainties involved in the interpretation of drilling results and other tests and the estimation of gold resources; risk of accidents, equipment breakdowns and labour disputes or other unanticipated difficulties or interruptions; the possibility of environmental issues at the Company's projects; the possibility of cost overruns or unanticipated expenses in work programs; the need to obtain permits and comply with environmental laws and regulations and other government requirements; fluctuations in the price of gold and other risks and uncertainties, including those described in the Company's current Annual Information Form filed on SEDAR at www.sedar.com.
As a result, readers are cautioned not to place undue reliance on these forward-looking statements. The forward-looking statements contained in this news release are made as of the date of this release. Unless required by law, Marlin has no intention to and assumes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
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