California Gold Announces Commencement of Trading on OTCQX Marketplace as “CFGMF” and Grant of Stock Options
TORONTO--(BUSINESS WIRE)--California Gold Mining Inc. (“California Gold” or the “Company”; TSXV – CGM; OTCQX – CFGMF) is pleased to announce that its common shares have commenced trading on the OTCQX marketplace in the U.S., under the ticker CFGMF.
“Our Fremont gold project is located in California, and many of our investors are US-based so the OTCQX listing is a natural evolution for the Company; we are looking forward to increased market visibility and trading in the US”
Trading on OTCQX is designed to provide current and future U.S.-based shareholders with greater access to and ease of trading in California Gold’s shares. California Gold will provide home-country disclosure to U.S. investors. U.S. investors can find current financial disclosures and Real-Time Level 2 quotes for California Gold on www.otcmarkets.com. Financial disclosure and other information about the Company are also available at www.caligold.ca.
“Our Fremont gold project is located in California, and many of our investors are US-based so the OTCQX listing is a natural evolution for the Company; we are looking forward to increased market visibility and trading in the US,” commented Chad Williams, Interim President and CEO of California Gold.
Berns & Berns will serve as the Company’s Principal American Liaison (“PAL”) on the OTCQX, and will be responsible for providing guidance on OTCQX requirements and U.S. securities laws.
In connection with California Gold’s approval to trade on the OTCQX, the Company has arranged for its company information to be made available via S&P Capital IQ Corporation Records Listing Program. As part of the program, a full description of California Gold will be published in the Daily News Section of Standard & Poor’s Corporation Records, a recognized securities manual for secondary trading in up to 38 states under the Blue Sky Laws. S&P Capital IQ Corporation Records is available in print, CD-ROM, and via the web at www.netadvantage.standardandpoors.com, as well as through numerous electronic vendors. The information about California Gold to be made available through this program includes an in-depth description of California Gold’s business operations, share price, shares outstanding, company financial position, earnings, and full income statement and balance sheet.
Grant of Stock Options
The Company also announces that it has granted certain members of management and its board of directors options to purchase an aggregate of 4,850,000 common shares of the Company from treasury, such options being exercisable on or before the expiry of five years from the date of grant. The foregoing grant of options is conditional upon the approval of the TSX Venture Exchange. Of the foregoing options, 3.6 million vest immediately upon satisfaction of all regulatory requirements and are exercisable at a price of $0.20 per common share, while the balance of the options will vest as to one-quarter on the three, six, nine and twelve month anniversaries of the issuance thereof and are exercisable at a price of $0.10 per common share.
About California Gold Mining Inc.
California Gold Mining Inc. is focused on developing its flagship Fremont gold project in Mariposa County, California. The project consists of a land package totaling 3,351 acres of historically producing gold mines. The Fremont Property lies within California’s prolific Mother Lode Gold Belt that has produced over 50 million oz of gold historically. The Company purchased the property in March 2013.
CAUTION REGARDING FORWARD-LOOKING INFORMATION
This news release of California Gold contains statements that constitute “forward-looking statements”. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause California Gold's actual results, performance or achievements, or developments in the industry to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”, “potential” and similar expressions, or that events or conditions “will”, “would”, “may”, “could” or “should” occur. Forward-looking statements in this document include statements regarding the Company’s expectations regarding the anticipated benefits of trading on the OTCQX marketplace. There can be no assurance that such statements will prove to be accurate. Actual results and future events could differ materially from those anticipated in such statements, and readers are cautioned not to place undue reliance on these forward looking statements. Any factor could cause actual results to differ materially from California Gold's expectations. California Gold undertakes no obligation to update these forward looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change, unless otherwise required by law.
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.
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