Sale of Goldhill-Blackjack Claims and Management Changes
Winnipeg, Manitoba (FSCwire) - King’s Bay Gold Corporation (TSXv: KBG) (the “Company” or “King’s Bay”) has entered into an agreement, subject to TSX Venture Exchange approval, to sell 100% of its rights to the Goldhill-Blackjack claims, to Intact Gold Corp.. (TSX-V: ITG) for the consideration of:
a) A one-time payment of $10,000.00
b) The issuance to King’s Bay of 100,000 common shares of Intact Gold Corp.
c) The issuance to King’s Bay of 100,000 purchase warrants of Intact Gold Corp. exercisable at $0.25 per share until February 9, 2018.
In addition, King’s Bay has accepted the resignations of President and Director, Peter Brooks, and Director Douglas Bundy. Director Dusan Berka will assume the role of President. King’s Bay would like to thank Mr. Peter Brooks and Mr. Douglas Bundy, and wish them success in their future endeavors.
King’s Bay also announces the appointment of Kevin Bottomley and Bradley Hoeppner to the Board of Directors. The Company would also like to welcome Jody Bellefleur as CFO, and Frances Petryshen as Corporate Secretary.
ON BEHALF OF THE BOARD OF DIRECTORS
King’s Bay Gold Corporation
“Dusan Berka”
Dusan Berka
Director, President
Tel: (604) 681-1568
This news release includes certain forward-looking statements concerning the future performance of King’s Bay Gold Corporation’s business, its operations and its financial performance and condition, as well as management's objectives, strategies, beliefs and intentions. The Company does not intend, and does not assume any obligation, to update these forward-looking statements. Forward-looking statements are frequently identified by such words as "may", "plan", "expect", "anticipate", "estimate", "intend" and similar words referring to future events and results. These forward-looking statements represent management's best judgment based on current facts and assumptions that management considers reasonable. The Company makes no representation that reasonable business people in possession of the same information would reach the same conclusions. All forward-looking information is inherently uncertain and subject to a variety of assumptions, risks and uncertainties, including the speculative nature of mineral exploration and development, fluctuating commodity prices, competitive risks and the availability of financing and as described in more detail in the Company’s recent securities filings available at www.sedar.com. Actual events or results may differ materially from those projected in the forward looking statements and readers are cautioned against placing undue reliance thereon.
Neither TSX Venture Exchange Inc. nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange Inc.) accepts responsibility for the adequacy or accuracy of this release.
To view this press release as a PDF file, click onto the following link:
public://news_release_pdf/KBG02122016.pdf
Source: Kings Bay Gold Corporation (TSX Venture:KBG) http://www.kingsbaygold.com/
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