RED EAGLE EXPLORATION LIMITED V.XR

CB Gold Terminates Previously Announced Private Placement

[PerseusLtd]

VANCOUVER, BC--(Marketwired - July 02, 2015) - CB Gold Inc. (TSX VENTURE: CBJ) ("CB Gold" or the "Company") announces that it will not proceed with the non-brokered private placement announced on June 22, 2015. As announced on June 30, 2015, CB Gold's board of directors will fully consider the unsolicited offer from Red Eagle Mining Corporation and make a recommendation in due course. In the meantime, CB Gold will review its strategic alternatives and recommends all shareholders refrain from making any decision and take no action in respect of the Red Eagle offer at this time until they have been advised of the board's recommendation.

About CB Gold Inc.:

CB Gold is a mineral exploration company headquartered in Vancouver, British Columbia. CB Gold, through its wholly-owned subsidiary, Leyhat Colombia Sucursal, is actively pursuing the exploration and development of mineral properties in the Republic of Colombia. The Vetas Gold Project consists of a number of existing mines and exploration concessions.

[bepractical]

I guess that negates the Friday meeting with the BCSC. It is quite likely that both companies are negotiating for a mutually acceptable deal........................we shall wait and see.

[santi69]

The CB Gold management likely came to the conclusion that the BCSC would certainly rule against their attempt to conduct the PP, although they likely knew this before they even tried to attempt this obvious tactic. Good for Red Eagle in holding them to task. I hope the BCSC still has the hearing to give them the riot act. As I have written before, I will vote FOR the Red Eagle Mining offer unless

[DosCervezas]

This is starting to look like a soap opera!

[santi69]

And to think that CB Gold management now wants to stay in charge and run an exploration company. Well. Unless they get a chance to try and sell the assets again. But hopefully, the rest of my fellow CB Gold shareholders will also vote for the Red Eagle Mining offer and we get enough votes to move on.