Category: Baystreet Newswire
Date: Friday, August 29, 2014
Vancouver, BC / ACCESSWIRE / August 29, 2014 / NioGold Mining Corp. ("NioGold" or the "Company") (TSXV: NOX) (OTCQX: NOXGF) is pleased to announce that it has completed the previously announced $4.9 million financing with Osisko Gold Royalties Ltd ("Osisko") (TSX: OR) pursuant to which Osisko has acquired, by way of private placement, 14 million flow-through common shares of NioGold at a price of $0.35 per share. In addition, Osisko has acquired, for an aggregate purchase price $150,000, NioGold's rights to repurchase a portion of the royalties on certain of NioGold's claims.
NioGold also announces that Sean Roosen and John Burzynski have joined the Board of Directors of NioGold.
Sean Roosen, Director Eng. T.
Mr. Roosen is Chairman and CEO of Osisko and the former President and Chief Executive Officer of Osisko Mining Corporation before its acquisition by Agnico Eagle Mines and Yamana Gold. Mr. Roosen is a Supervisory Board member of EurAsia Resource Holdings AG - a European based venture capital fund - and a director of EurAsia Resource Value SE. Mr. Roosen also sits on the Board of Directors of the following publicly listed companies: Astur Gold Corporation, Condor Petroleum Inc. and Dalradian Resources Inc. Mr. Roosen is a graduate of the Haileybury School of Mines and has had various progressive positions in the mining industry both domestically and international.
John Burzynski, Director P.GeoMr. Burzynski is the Senior Vice-President, New Business Development and Director of Osisko. Mr. Burzynski is a registered P.Geo. in the province of Quebec and has over 25 years' experience as a professional geologist on international mining and development projects. He was one of the three founding members of Osisko Mining Corporation, and was also a founding member of EurAsia Holding AG and EurAsia RH, a private European resource investment group. Mr. Burzynski is also the Chairman and a Director of Oban Mining Corporation and a member of the Board of Directors of Condor Petroleum Inc.
Michele Marrandino has resigned from the Board of NioGold Mining to make room for the two new appointees. Mr. Marrandino has been a valuable member of the Board of Directors for seven years. The Board of Directors of NioGold would like to thank Mr. Marrandino for his significant input and service to the Company and wish him well in his future endeavours.
Osisko now owns 23,598,500 common shares of NioGold, representing approximately 19.5% of NioGold's issued and outstanding common shares. Osisko has indicated that it has acquired these 14 million flow-through common shares of NioGold for investment purposes and, other than these shares, Osisko has no current intention to increase the beneficial ownership of, or control or direction over, additional securities of NioGold.
NioGold Mining Corporation - Canada's Golden Highway >>
NioGold Mining Corporation is a mineral exploration company focused on gold. The Company's flagship projects are located in the Cadillac - Malartic - Val-d'Or region of the prolific Abitibi gold mining district, Quebec. The Cadillac, Malartic and Val-d'Or mining camps have produced over 45 million ounces of gold since the 1930's and presently encompasses six producing gold mines including Osisko Mining's new Canadian Malartic operations. NioGold's land holdings within the Abitibi presently cover 130km2 and encompass four former gold producers, namely the Norlartic, Kierens (First Canadian), Marban and Malartic Hygrade mines that collectively produced 640,000 ounces of gold.
NioGold's experienced and qualified technical team are overseeing the advancement of these projects, targeting expansion of the resource base.
NioGold invites you to visit the company website at www.niogold.com.
For information on NioGold Mining Corporation contact:
Michael A. IversonDale Paruk
President & CEO Vice-President Corporate Development
Tel: (604) 856-9887 Tel: (604) 510-4505
Toll-free: (877) 642-6200
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
This news release includes "forward looking statements", as that term is defined in Section 27A of the Unites States Securities Act of 1933, as amended, and Section 21E of the United States Exchange Act of 1934, as amended, that are subject to assumptions, risks and uncertainties. Statements in this news release which are not purely historical are forward looking statements, including without limitation any statements concerning the Company's intentions, plans, estimates, expectations or beliefs regarding the future. Although the Company believes that any forward looking statements in this news release are reasonable, there can be no assurance that any such forward looking statements will prove to be accurate. The Company cautions readers that all forward looking statements, including without limitation those relating to the Company's future operations and business prospects, are based on assumptions none of which can be assured, and are subject to certain risks and uncertainties that could cause actual events or results to differ materially from those indicated in the forward looking statements. Readers are advised to rely on their own evaluation of such risks and uncertainties and should not place undue reliance on forward looking statements.
Any forward looking statements are made as of the date of this news release, and the Company assumes no obligation to update the forward looking statements, or to update the reasons why actual events or results could or do differ from those projected in the forward looking statements. Except as required by law, the Company assumes no obligation to update any forward looking statements, whether as a result of new information, future events or otherwise.
CAUTIONARY NOTE TO U.S. INVESTORS
The United States Securities and Exchange Commission (the "SEC") permits U.S. mining companies, in their filings with the SEC, to disclose only those mineral deposits that a company can economically and legally extract or produce. We may use certain terms in this news release, such as 'measured resources', 'indicated resources' and 'inferred resources', which the SEC guidelines strictly prohibit U.S. registered companies from including in their filings with the SEC. The news release may contain information about adjacent properties on which we have no right to explore or mine. U.S. investors are cautioned that mineral deposits on adjacent properties may not be indicative of mineral deposits on our properties.
SOURCE: NioGold Mining Corp.