VANCOUVER, Dec. 11, 2012 /CNW/ - Emerick Resources Corp. (TSX-V: ERC.H)
("Emerick" or the "Company") is pleased to announce that it has
completed its reverse takeover ("RTO") of Medgold Resource Ltd.
("Medgold"), a private European-focused gold exploration company.
Subject to TSX Venture Exchange acceptance, the Company's shares will
trade under the name, Medgold Resources Corp.
The newly merged company will explore for major gold deposits in the
Mediterranean region, focusing on countries with a known history of
gold production, and mining-friendly legal/fiscal codes. The Company's
project portfolio includes gold projects in Tuscany, Italy, and an
extensive pipeline of projects in Portugal and Spain. The legislative
environment covering mine planning and development has eased recently
in the three targeted countries as a result of the on-going economic
downturn in the Mediterranean region and the resulting need for
investment and job creation.
The Company will be guided by a highly experienced Board of Directors
made up of exploration and mining industry veterans led by
Vancouver-based entrepreneur Simon Ridgway as Chairman of the Board and
Chief Executive Officer. Mr. Ridgway, and the other members of the
Board- Daniel James, Ralph Rushton, Jeremy Martin and David Hall -have
been responsible for establishing and financing a number of successful
exploration and mining companies including Fortuna Silver Mines Inc.,
Stratex International PLC, Northland Resources S.A. and Horizonte
Chairman Simon Ridgway said: "I am delighted to conclude the RTO of
Medgold as I believe it places us in a strong position to discover and
build the next generation of European gold mines, at a time when the
region needs investment and job-creation. Medgold has been building an
exciting project portfolio and pipeline in highly prospective regions
with historic gold production. I'm confident that the technical teams
that have been established in Italy, Spain and Portugal will deliver
value for our new shareholders."
ON BEHALF OF THE BOARD
Ralph Rushton, Director
Neither the TSX Venture Exchange nor the Investment Industry Regulatory
Organization of Canada accepts responsibility for the adequacy or
accuracy of this release.
This news release includes certain "forward-looking information" within
the meaning of Canadian securities legislation. Forward-looking
statements include predictions, projections and forecasts and are
often, but not always, identified by the use of words such as "seek",
"anticipate", "believe", "plan", "estimate", "forecast", "objective",
"expect", "potential", "project", "target", "schedule", budget" and
"intend" and statements that an event or result "may", "will",
"should", "could" or "might" occur or be achieved and other similar
expressions and includes the negatives thereof. All statements other
than statements of historical fact included in this release, including,
without limitation, statements regarding the expected benefits of the
transaction, the completion of the transaction, the receipt of any
regulatory approvals for the transaction and the potential of the
properties are forward-looking statements that involve various risks
and uncertainties. There can be no assurance that such statements will
prove to be accurate and actual results and future events could differ
materially from those anticipated in such statements. Forward-looking
statements are based on a number of material factors and assumptions.
Important factors that could cause actual results to differ materially
from Emerick's expectations include actual exploration results, changes
in project parameters as plans continue to be refined, future metal
prices, availability of capital and financing on acceptable terms,
general economic, market or business conditions, uninsured risks,
regulatory changes, delays or inability to receive required approvals,
and other exploration or other risks detailed herein and from time to
time in the filings made by Emerick with securities regulators.
Although Emerick has attempted to identify important factors that could
cause actual actions, events or results to differ from those described
in forward-looking statements, there may be other factors that cause
such actions, events or results to differ materially from those
anticipated. There can be no assurance that forward-looking statements
will prove to be accurate and accordingly readers are cautioned not to
place undue reliance on forward-looking statements.
SOURCE: Emerick Resources Corp.
For further information:
Investor relations: Jaclyn Ruptash, tel: 604-801-5432
Shares Issued: 52.4-million