WHITE ROCK, British Columbia--(BUSINESS WIRE)--Standard Tolling Corp. (TSX-V: TON, Frankfurt: GA0, “Standard Tolling” or the “Company”) reports that as announced on September 24, 2014 and October 20, 2014, the Company is acquiring a 150 ton per day CIL gold processing plant (the “Plant”) located in the department of La Libertad, near the city of Huamachuco in Northern Peru. As announced on November 20, 2014, October 20, 2014 and September 24, 2014, the Company is conducting a part and parcel private placement to raise up to $2,600,000 to close concurrent with the acquisition of the Plant. Closing had been planned for November 27, 2014, however due to delays in co-ordination of final due diligence procedures for the acquisition, closing is delayed and due diligence continues. The Company and the vendor of the Plant have agreed to the delay and are both working vigilantly to complete due diligence.
The Company’s completion of the private placement is conditional on the Company completing the acquisition of the Plant and all subject to the TSX Venture Exchange (“TSX-V”) approving all elements of these transactions on terms acceptable to the parties, satisfactory results of due diligence and settlement of definitive documentation. Trading in TON's shares will remain halted until TSX-V requirements are met.
About Standard Tolling Corp.
Standard Tolling has assembled a well respected operating team with expertise in operating multiple toll processing plants that purchase ore from small miners. Under the progressive new formalization mandate, the Peruvian government has enacted legislation and explicitly encouraged additional compliant ore processing plants. The Company is on its way to establishing its first toll processing facility in Peru.
ON BEHALF OF THE BOARD
“Len Clough”
_______________________________________
Mr. Len
Clough, Chairman, President, CEO and Director
For further information please contact:
Tel: 866-222-5820 ext 101 for John Martin
Email: info@standardtolling.com
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.
This news release contains certain statements that may be deemed “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 and include, without limitation, statements regarding the Company’s plans with respect to statements about the Company’s ability to fund and execute the proven ore processing business model outlined in this news release. Although Standard Tolling believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward looking statements. Forward looking statements are based on the beliefs, estimates and opinions of the Company’s management on the date the statements are made. Except as required by law, the Company undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change.