/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED
STATES/
VANCOUVER, BC, June 7, 2023
/CNW/ - Pure Gold Mining Inc. (NEX: PGM.H) ("PureGold" or the
"Company"), announces today that its ordinary shares ("Shares")
listed on the NEX Board of the TSX Venture Exchange (the "NEX")
will be delisted at the close of markets on June 9, 2023 (the "Delisting"), pursuant to a
voluntary delisting application made by the Company to the NEX. The
NEX will issue a bulletin confirming the Delisting on June 8, 2023.
The Delisting is taking place to facilitate the sale of the
Company's issued and outstanding Shares (the "Transaction") to West
Red Lake Gold Mines Inc. ("West Red Lake") (TSXV: WRLG, OTC: WRLGF)
pursuant to an Approval and Reverse Vesting Order in the Company's
ongoing proceedings under the Companies' Creditors Arrangement
Act (the "CCAA Proceedings"). Further information with respect
to the Transaction is set out in the Company's Press Release of
April 17, 2023, and can also be found
on the website of KSV Restructuring Inc., the Company's court
appointed monitor in the CCAA Proceedings at:
https://www.ksvadvisory.com/experience/case/pure-gold.
ON BEHALF OF THE COMPANY
"Jonathan Singh"
Jonathan Singh, Chief Administrative Officer
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.
All statements in this press release, other than statements
of historical fact, are "forward-looking information" with respect
to the Company within the meaning of applicable securities laws,
including, but not limited to statements relating to the delisting
of the Shares from the NEX, closing of the Transaction and receipt
of all necessary approvals including West
Red Lake shareholder and TSX Venture Exchange approval.
Forward-looking information is often, but not always, identified by
the use of words such as "seek", "anticipate", "plan", "continue",
"planned", "expect", "project", "predict", "potential",
"targeting", "intends", "believe", "potential", and similar
expressions, or describes a "goal", or variation of such words and
phrases or state that certain actions, events or results "may",
"should", "could", "would", "might" or "will" be taken, occur or be
achieved. Forward-looking information is not a guarantee of future
performance and is based upon a number of estimates and assumptions
of management at the date the statements are made including, among
others, assumptions about future prices of gold and other metal
prices, currency exchange rates and interest rates, favourable
operating conditions, political stability, obtaining governmental
approvals and financing on time, obtaining renewals for existing
licences and permits and obtaining required licences and permits,
labour stability, stability in market conditions, availability of
equipment, accuracy of any mineral resources, successful resolution
of disputes and anticipated costs and expenditures. Many
assumptions are based on factors and events that are not within the
control of the Company and there is no assurance they will prove to
be correct.
Such forward-looking information, involves known and unknown
risks, which may cause the actual results to be materially
different from any future results expressed or implied by such
forward-looking information, including, risks related to the CCAA
Proceedings and the impact of the same on the Company's operations;
completing the Transaction and the impact and timing thereof;
current economic conditions; future prices of commodities; possible
variations in grade or recovery rates; the costs and timing of the
development of new deposits; failure of equipment or processes to
operate as anticipated; the failure of contracted parties to
perform; the timing and success of exploration and development
activities generally; delays in permitting; possible claims against
the Company; the timing of future economic studies; labour disputes
and other risks of the mining industry; delays in obtaining
governmental approvals, financing or in the completion of
exploration as well as those factors discussed in the Annual
Information Form of the Company dated March
30, 2022 in the section entitled "Risk Factors", under the
Company's SEDAR profile at www.sedar.com.
Although the Company has attempted to identify important
factors that could cause actual actions, events or results to
differ materially from those described in forward-looking
information, there may be other factors that cause actions, events
or results not to be as anticipated, estimated or intended. There
can be no assurance that such information will prove to be accurate
as actual results and future events could differ materially from
those anticipated in such statements. The Company disclaims any
intention or obligation to update or revise any forward-looking
information, whether as a result of new information, future events
or otherwise unless required by law.
SOURCE Pure Gold Mining Inc.