Elevation Gold Announces Sale of Hercules Property
Elevation Gold Mining (TSXV: ELVT.H) has announced the sale of its Hercules Property through the disposition of its subsidiary Alcmene Mining Inc. to StrikePoint Gold Inc. for $250,000. The Hercules Property, located in Lyon County, Nevada, consists of 1,207 unpatented mining claims, 4 patented mining claims, and an additional 116 unpatented mining claims under option. This transaction, executed on August 29, 2024, is subject to final approval from the TSX Venture Exchange and complies with the court order under the Companies' Creditors Arrangement Act. The disposition has been consented to by the court-appointed monitor, KSV Restructuring Inc.
Elevation Gold Mining (TSXV: ELVT.H) ha annunciato la vendita della sua proprietà Hercules tramite la cessione della sua filiale Alcmene Mining Inc. a StrikePoint Gold Inc. per $250.000. La proprietà Hercules, situata nella Contea di Lyon, Nevada, consiste in 1.207 richieste minerarie non registrate, 4 richieste minerarie registrate e ulteriori 116 richieste minerarie non registrate sotto opzione. Questa transazione, eseguita il 29 agosto 2024, è soggetta all'approvazione finale da parte del TSX Venture Exchange e rispetta l'ordinanza del tribunale secondo la legge sul pagamento dei creditori delle aziende. La cessione è stata approvata dal monitor designato dal tribunale, KSV Restructuring Inc.
Elevation Gold Mining (TSXV: ELVT.H) ha anunciado la venta de su propiedad Hercules a través de la disposición de su filial Alcmene Mining Inc. a StrikePoint Gold Inc. por $250,000. La propiedad Hercules, ubicada en el condado de Lyon, Nevada, consta de 1,207 reclamaciones mineras no patentadas, 4 reclamaciones mineras patentadas y un adicional de 116 reclamaciones mineras no patentadas bajo opción. Esta transacción, ejecutada el 29 de agosto de 2024, está sujeta a la aprobación final de la TSX Venture Exchange y cumple con la orden judicial bajo la Ley de Acuerdo de Acreedores de Empresas. La disposición ha sido consentida por el monitor designado por el tribunal, KSV Restructuring Inc.
Elevation Gold Mining (TSXV: ELVT.H)는 헤라클레스 자산의 매각을 발표했습니다. 이것은 Alcmene Mining Inc.의 자회사를 StrikePoint Gold Inc.에 $250,000에 양도하는 것입니다. 헤라클레스 자산은 네바다 주 리온 카운티에 위치하며, 1,207개의 비특허 광산 청구권, 4개의 특허 광산 청구권, 그리고 추가로 116개의 비특허 광산 청구권이 옵션으로 포함되어 있습니다. 이 거래는 2024년 8월 29일에 실행되었으며, TSX Venture Exchange의 최종 승인을 받아야 하며, 기업 채권자 정리법에 따른 법원 명령을 준수합니다. 이 양도는 법원에 의해 지정된 모니터인 KSV Restructuring Inc.의 동의를 받았습니다.
Elevation Gold Mining (TSXV: ELVT.H) a annoncé la vente de sa propriété Hercules par le biais de la cession de sa filiale Alcmene Mining Inc. à StrikePoint Gold Inc. pour 250 000 $. La propriété Hercules, située dans le comté de Lyon, au Nevada, se compose de 1 207 claims miniers non patentés, 4 claims miniers patentés et de 116 claims miniers non patentés supplémentaires sous option. Cette transaction, exécutée le 29 août 2024, est soumise à l'approbation finale de la TSX Venture Exchange et respecte l'ordonnance du tribunal en vertu de la loi sur les arrangements des créanciers des entreprises. La cession a été consentie par le superviseur nommé par le tribunal, KSV Restructuring Inc.
Elevation Gold Mining (TSXV: ELVT.H) hat den Verkauf seiner Hercules-Immobilie angekündigt, indem die Tochtergesellschaft Alcmene Mining Inc. an StrikePoint Gold Inc. für 250.000 USD verkauft wurde. Die Hercules-Immobilie, die sich im Lyon County, Nevada, befindet, besteht aus 1.207 nicht patentierten Bergbauansprüchen, 4 patentierten Bergbauansprüchen und zusätzlich 116 nicht patentierten Bergbauansprüchen, die unter Option stehen. Diese Transaktion, die am 29. August 2024 durchgeführt wurde, steht unter dem Vorbehalt der endgültigen Genehmigung durch die TSX Venture Exchange und erfüllt die Gerichtsordnung gemäß dem Unternehmensgläubigerregelungsgesetz. Die Abtretung wurde von dem gerichtlich eingesetzten Überwacher KSV Restructuring Inc. genehmigt.
- Sale of non-core asset (Hercules Property) for $250,000, potentially improving the company's cash position
- Streamlining of operations by divesting a subsidiary and associated mining claims
- Reduction in the company's mineral property portfolio
- The sale price of $250,000 may be lower than the potential value of the mining claims
Alcmene holds one hundred percent (
The Disposition remains subject to the final approval of the TSX Venture Exchange (the "Exchange"). StrikePoint is not a Non-Arm's Length Party to the Company. No finder's fee is payable in connection with the Disposition. The Disposition is acceptable under the amended and restated initial court order dated August 12, 2024 (the "Order") of the Supreme Court of
ON BEHALF OF THE BOARD OF ELEVATION GOLD MINING CORPORATION
"Tim J. Swendseid"
Tim J. Swendseid, President of Elevation Gold Mining Corporation
About Elevation Gold Mining Corporation
Elevation Gold is a publicly listed gold and silver producer, engaged in the acquisition, exploration, development and operation of mineral properties located in the United States. Elevation Gold's common shares are currently listed on the Exchange's NEX Board in
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.
Cautionary Statement on Forward-Looking Information
Certain of the statements made and information contained herein is "forward-looking information" within the meaning of applicable Canadian securities laws. All statements other than statements of historical facts included in this document constitute forward-looking information, including but not limited to statements regarding the final approval of the Exchange. Words such as "believe", "expect", "anticipate", "contemplate", "target", "plan", "goal", "aim", "intend", "continue", "budget", "estimate", "may", "will", "can", "could", "should", "schedule" and similar expressions identify forward-looking statements.
Forward-looking information is necessarily based upon various estimates and assumptions including, without limitation, management's expectations with regards to receipt of the final approval of the Exchange; and assumptions related to the factors set forth below. While these factors and assumptions are considered reasonable by the Company as at the date of this document in light of management's experience and perception of current conditions and expected developments, these statements are inherently subject to significant business, economic and competitive uncertainties and contingencies. Known and unknown factors could cause actual results to differ materially from those projected in the forward-looking statements and undue reliance should not be placed on such statements and information. Such factors include, but are not limited to: risks related to not receiving the Exchange's final approval, and other risks and uncertainties including but not limited to those described the Company's public disclosure documents which are available on SEDAR at www.sedar.com under the Company's profile. All of the forward-looking statements made in this document are qualified by these cautionary statements. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated, forecast or intended and readers are cautioned that the foregoing list is not exhaustive of all factors and assumptions which may have been used. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking information. Accordingly, there can be no assurance that forward-looking information will prove to be accurate and forward-looking information is not a guarantee of future performance. Readers are advised not to place undue reliance on forward-looking information. The forward-looking information contained herein speaks only as of the date of this document. The Company disclaims any intention or obligation to update or revise forward–looking information or to explain any material difference between such and subsequent actual events, except as required by applicable law.
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SOURCE Elevation Gold Mining Corp.
FAQ
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