New World Gold Corporation (OTC Pink: NWGC), and its subsidiary, Andes
Gold Corporation, (OTC Pink: AGCZ), (the “Companies” or individually, a
“Company”), report that Robert Talbot, Chief Executive Officer and a
Director of each Company is currently hospitalized, an is recovering
from a cerebral stroke. The recovery is expected to take several months.
At this time it is unknown whether or not at the end of this recovery he
will be able to return to full active involvement with the Companies.
The Boards of Directors of the Companies wish to reassure their
shareholders that each Company’s operations in Peru and Ecuador have not
been effected by Mr. Talbot’s absence. Each South American business unit
continues to pursue its business plan under its local management. No
business interruptions have occurred.
The Board of Directors of New World Gold Corporation immediately has
brought in outside senior business advisors to assist during Mr.
Talbot’s absence. In addition, the Boards of Directors of both Companies
are actively seeking supplemental operational management in South
America and other professional advisory services in the U.S. and South
American to strengthen each Company’s management and operations.
The absence of Mr. Talbot will not impact the previously reported
startup of the BR Mine nor the royalty to be paid from its production to
qualifying shareholders of New World Gold Corporation per its press
release dated September 22, 2015.
Going forward, the Board of Directors of New World Gold Corporation will
periodically issue updates to this press release on the status of the
Company and Mr. Talbot’s recovery.
New World Gold Corporation and Andes Gold Corporation trade in the
United States on the OTC Pink Market under the symbols “NWGC” and
“AGCZ”. For further information, please contact the Companies at (561)
210-8496 or through the website of New World Gold Corporation at www.newworldgoldcorp.com.
Safe Harbor Statement:
This release includes “forward-looking statements” within the meaning of
Section 27A of the Securities Act of 1933, as amended, and Section 21E
of the Securities Exchange Act of 1934. Certain statements set forth in
this press release constitute "forward-looking statements.”
Forward-looking statements include, without limitation, any statement
that may predict, forecast, indicate, or imply future results,
performance or achievements, and may contain the words "estimate",
"project", "intend", "forecast", "anticipate", "plan", "planning",
"expect", "believe", "will likely", "should", "could", "would", "may" or
words or expressions of similar meaning. Such statements are not
guarantees of future performance and are subject to risks and
uncertainties that could cause the company's actual results and
financial position to differ materially from those included within the
forward-looking statements. Forward-looking statements involve risks and
uncertainties, including those relating to the Company's ability to grow
its business. Actual results may differ materially from the results
predicted and reported results should not be considered as an indication
of future performance. The potential risks and uncertainties include,
among others, the Company's limited operating history, the limited
financial resources, domestic or global economic conditions --
activities of competitors and the presence of new or additional
competition and conditions of equity markets.
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