CORTEZ GOLD CORP
News
News Releases
June 17, 2015
Cortez Arranges Loan Financing
Vancouver, British Columbia -- Cortez Gold Corp. (TSXV:CUT) ('Cortez' or the 'Company') has arranged a loan facility with Starcore International Mines Ltd. ('Starcore') to purchase equipment required to commence operations at Cortez's Altiplano gold and silver processing plant in Matehuala, Mexico (the 'Altiplano Plant'), which is owned by the Company's Mexican subsidiary, Altiplano Goldsilver S.A. de C.V.
The loan facility in the amount of Cdn$250,000 (the 'Loan') bears interest at 10% and grants Starcore a floating charge security on the Altiplano Plant and all of the assets of Cortez, subordinated only to the existing first priority security interest and mortgage currently held by other lenders.
The loan facility and all interest due will only be payable should the shareholders of Cortez not approve the proposed amalgamation of Starcore and Cortez, whereby Starcore would acquire all of the outstanding shares of Cortez in an all-share transaction to be completed pursuant to a court approved Plan of Arrangement under the Business Corporations Act (British Columbia). Should the Cortez shareholders disapprove the transaction at their shareholders meeting on July 9, 2015 (the 'Meeting Date'), the Loan and all interest due shall be payable on demand by Starcore at any time after the Meeting Date.
About Cortez Gold Corp.
Cortez Gold Corporation is a Canadian precious metals production company, incorporated in 2007, headquartered in Vancouver, with operations in Mexico. Cortez is focused on efficient operations, strategic and accretive acquisitions, and financial strength. Cortez offers a low-risk gold processing business model that will generate cash flow, and provide low processing charges and efficient payment schedules to compete with larger scale smelters. Cortez Gold Corp. will grow as a company dedicated to high standards of corporate governance and sustainability. Visit www.cortezgoldcorp.com for more information.
ON BEHALF OF THE BOARD
of Cortez Gold Corp.
(sgd.) 'Gary Arca'
Gary Arca, Director & CFO
For further information please contact:
Gary Arca, Director & CFO
Tel: (604) 602-4935 • Toll-Free: 1-866-602-4935
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
You can view the Previous News Releases item: Fri Jun 12, 2015, Starcore International to acquire Cortez Gold in All-Share Transaction page, or press the Back button on your browser.
Cortez Arranges Loan Financing
Vancouver, British Columbia -- Cortez Gold Corp. (TSXV:CUT) ('Cortez' or the 'Company') has arranged a loan facility with Starcore International Mines Ltd. ('Starcore') to purchase equipment required to commence operations at Cortez's Altiplano gold and silver processing plant in Matehuala, Mexico (the 'Altiplano Plant'), which is owned by the Company's Mexican subsidiary, Altiplano Goldsilver S.A. de C.V.
The loan facility in the amount of Cdn$250,000 (the 'Loan') bears interest at 10% and grants Starcore a floating charge security on the Altiplano Plant and all of the assets of Cortez, subordinated only to the existing first priority security interest and mortgage currently held by other lenders.
The loan facility and all interest due will only be payable should the shareholders of Cortez not approve the proposed amalgamation of Starcore and Cortez, whereby Starcore would acquire all of the outstanding shares of Cortez in an all-share transaction to be completed pursuant to a court approved Plan of Arrangement under the Business Corporations Act (British Columbia). Should the Cortez shareholders disapprove the transaction at their shareholders meeting on July 9, 2015 (the 'Meeting Date'), the Loan and all interest due shall be payable on demand by Starcore at any time after the Meeting Date.
About Cortez Gold Corp.
Cortez Gold Corporation is a Canadian precious metals production company, incorporated in 2007, headquartered in Vancouver, with operations in Mexico. Cortez is focused on efficient operations, strategic and accretive acquisitions, and financial strength. Cortez offers a low-risk gold processing business model that will generate cash flow, and provide low processing charges and efficient payment schedules to compete with larger scale smelters. Cortez Gold Corp. will grow as a company dedicated to high standards of corporate governance and sustainability. Visit www.cortezgoldcorp.com for more information.
ON BEHALF OF THE BOARD
of Cortez Gold Corp.
(sgd.) 'Gary Arca'
Gary Arca, Director & CFO
For further information please contact:
Gary Arca, Director & CFO
Tel: (604) 602-4935 • Toll-Free: 1-866-602-4935
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
You can view the Previous News Releases item: Fri Jun 12, 2015, Starcore International to acquire Cortez Gold in All-Share Transaction page, or press the Back button on your browser.
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