Home Corporate projects News Investors Contact
Gold, Copper and Growth
 
2016
2015
2014
2013
2012
2011
2010
2009
2008
2007
2006
2005
2004


News



AM Gold Receives Demand Letter from Secured Lender

March 15, 2016

AM GOLD INC. (TSX-V: AMG; Frankfurt: AMX) (“AM Gold” or the “Company”) announces that it has received a demand letter requesting full payment of the outstanding principal plus accrued interest pursuant to a secured short-term loan agreement (the “Short-Term Loan”) entered into between the Company and an arm’s length party (the “Lender”) on January 19, 2015. The Short-Term Loan is secured against the Company’s Red Mountain, Yukon property and bears an interest rate of 10% per annum, calculated monthly.

For further details on the Short-Term Loan see the Company’s news release dated January 22, 2015, a copy of which is available under the Company’s SEDAR profile at www.sedar.com.

The Company does not currently have sufficient funds in its treasury to satisfy the demand for payment.  The Company is currently putting together a financing plan to raise funds by way of debt and/or equity and the Company expects to release details of the proposed financing in due course. Given the extremely difficult capital markets for junior miners, there can be no assurances that management will be able to raise the required funds to repay the Lender in full.

About AM Gold

AM Gold Inc. is a publicly held resource company based in Vancouver, Canada. The company is listed on the TSX Venture Exchange under the symbol AMG and is quoted on the Frankfurt Exchange under the symbol AMX.

More information on AM Gold is available at amgold.ca.

ON BEHALF OF AM GOLD INC.

“John Fiorino”

___________________

John Fiorino
Chief Executive Officer

AM GOLD INC.

For further information on AM Gold, please contact Murray Caruth at 1-604-646-0067 or by email at [email protected], or visit AM Gold’s website at: http://amgold.ca.

Cautionary Statement Regarding “Forward-Looking” Information

Some of the statements contained in this press release are forward-looking statements and information within the meaning of applicable securities laws.  Forward-looking statements and information can be identified by the use of words such as “expects”, “intends”, “is expected”, “potential”, “suggests” or variations of such words or phrases, or statements that certain actions, events or results “may”, “could”, “should”, “would”, “might” or “will” be taken, occur or be achieved.  Forward-looking statements and information are not historical facts and are subject to a number of risks and uncertainties beyond the Company’s control.  Actual results and developments are likely to differ, and may differ materially, from those expressed or implied by the forward-looking statements contained in this news release. Accordingly, readers should not place undue reliance on forward-looking statements.  The Company undertakes no obligation to update publicly or otherwise revise any forward-looking statements, except as may be required by law.

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.
 
     
Sign up for latest updates
*  Email Address:

 
 
© Copyright AM Gold Inc. 2016
 
 
HOME  |  CORPORATE  |  PROJECTS  |  NEWS  |  INVESTORS  |  CONTACT  |  DISCLAIMER