CB Gold converts three licences to concession contracts I suppose they are trying to appear that they are acting in our best interests now. Or perhaps their new plan with more shares?
It's a little late....wouldn't you say......................
CB Gold converts three licences to concession contracts
Ticker Symbol: C:CBJ
CB Gold converts three licences to concession contracts
CB Gold Inc (C:CBJ)
Shares Issued 167,486,007
Last Close 6/25/2015 $0.035
Thursday June 25 2015 - News Release
Mr. Fabio Capponi reports
CB GOLD INC. RECEIVES CONCESSION CONTRACTS FOR ITS 100% OWNED LA PETER, SANTA ISABEL AND LOS DELIRIOS PROPERTIES IN VETAS
CB Gold Inc.'s 100-per-cent-owned La Peter, Santa Isabel and Los Delirios mining licences have been converted into concession contracts, with an average 20-year duration (extendable for an additional 30 years), securing the long-term development potential of the properties. The process of transforming the licences into concession contracts is called change of modality. La Peter, Santa Isabel and Los Delirios form part of the Vetas gold project.
The concession contracts are now in the process of being registered before the Colombian National Mining Registry. The registration process may take up to 15 days.
Fabio Capponi, president and chief executive officer of CB Gold, states: "We are extremely pleased with the conclusion of this lengthy and protracted process, which took over four years of hard work and the completion of which was subject to the final delimitation of the Paramo ecosystem boundaries this past December. We would like to thank all those that have assisted us along the way, and obviously a special thank you goes to our Colombian lawyer, the National Mining Agency and the Environmental Authorities, with which the company has worked over the past years to complete this process."
The company now has a total of seven concession contracts forming the Vetas gold project and expects the signature on the remaining two contracts to successfully complete the process of change of modality within the next short period of time.
We seek Safe Harbor.