News
|
AM Gold Announces Corporate Update
|
|
April 11, 2016
|
AM GOLD INC. (TSX-V: AMG; Frankfurt: AMX) ('AM Gold' or the 'Company') announces that it has been unable to raise funds in order to satisfy the short-term secured loan agreement entered into by the Company and an arm's length lender (the 'Lender') on January 19, 2015 (the 'Short Term Loan'). As disclosed in the Company's news releases dated January 22, 2015 and March 15, 2016 (copies of which are available under the Company's SEDAR profile at www.sedar.com) the Short Term Loan is secured against the Company's Red Mountain, Yukon property. If the Company is unable to repay the Lender then the Lender may exercise his rights over his security on the Company's Red Mountain, Yukon property.
The Company is seeking a 30 day extension from the Lender but there can be no assurances that management will be able to obtain an extension as proposed or at all.
About AM Gold
AM Gold Inc. is a publicly held resource company based in Vancouver, Canada. The company is listed on the TSX Venture Exchange under the symbol AMG and is quoted on the Frankfurt Exchange under the symbol AMX.
More information on AM Gold is available at www.amgold.ca.
ON BEHALF OF AM GOLD INC.
'John Fiorino'
___________________
John Fiorino
Chief Executive Officer
AM GOLD INC.
For further information on AM Gold, please contact Murray Caruth at 1-604-646-0067 or by email at [email protected], or visit AM Gold's website at: http://www.amgold.ca.
Cautionary Statement Regarding 'Forward-Looking' Information
Some of the statements contained in this press release are forward-looking statements and information within the meaning of applicable securities laws. Forward-looking statements and information can be identified by the use of words such as 'expects', 'intends', 'is expected', 'potential', 'suggests' or variations of such words or phrases, or statements that certain actions, events or results 'may', 'could', 'should', 'would', 'might' or 'will' be taken, occur or be achieved. Forward-looking statements and information are not historical facts and are subject to a number of risks and uncertainties beyond the Company's control. Actual results and developments are likely to differ, and may differ materially, from those expressed or implied by the forward-looking statements contained in this news release. Accordingly, readers should not place undue reliance on forward-looking statements. The Company undertakes no obligation to update publicly or otherwise revise any forward-looking statements, except as may be required by law.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.