TOMAGOLD OPTS OUT OF EAST BLOCK ACQUISITION
TomaGold Corp. will not proceed with the acquisition of the East block from Chibougamau Independent Mines Inc.
"We were fully committed to acquiring the East block and had financing proposals to complete the transaction. However, we were unable to reach agreement with Chibougamau on terms that were commercially acceptable to TomaGold," stated David Grondin, president and chief executive officer of TomaGold.
With respect to the West block, TomaGold has received work commitment extensions to Dec. 15, 2024, namely with Soquem Inc., Chibougamau and Globex Mining Enterprises Inc., as per the terms disclosed in the press release dated Aug. 14, 2023.
Annual general and special meeting
The corporation will hold its annual general and special meeting of shareholders on Aug. 29, 2024.
Board member resignation
The corporation also announces that Wanda Cutler has resigned from the board of directors of TomaGold, effective June 12, 2024. The corporation wishes Ms. Cutler all the best in her future endeavours