American Fork - Clifton Mining Company (OTCBB: CFTN) - Update
07 Dec, 2016, 07:00 ET
ALPINE, UT, Dec. 7, 2016 /CNW/ -
The annual shareholder meeting was originally schedule for Friday November 11, 2016, however an error occurred in the voting process and the meeting had to be reschedule for December 22, 2016, at 3:30 pm, at the Company's office, which is located at 705 East 50 South, American Fork, Utah. The voting period was extended, therefore if you have voted you do not need to vote again, however if you have not, your vote is important, please take the time to vote. Proxy information and other shareholder information has been mailed to all shareholders of record.
American Silver, LLC has determined its distribution this week to be $0.23 per share and so the Company will be receiving a distribution in the amount of $350,750.
Since production began in the Fall of 2014, Desert Hawk Gold Corp. has paid to Clifton Mining Company on the Kiewit Mine production to date $279,000 in royalty payments. As previously announced, Clifton management has received a link to a video prepared by Rick Havenstrite, President of Desert Hawk Gold Corp, of the Kiewit Mine Project. The web address is https://www.youtube.com/watch?v=i7fNEq9cxXM.
With the distribution from American Silver, LLC, as well as the royalty payments received from Desert Hawk Gold Corp., a substantial portion of Clifton's anticipated cash needs for the coming year are covered.
Please see the Company's website www.cliftonmining.com for additional information. Clifton trades on the U.S. OTC: (CFTN).
Note: Any statements released by Clifton Mining Company that are forward looking are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Editors and investors are cautioned that forward looking statements invoke risk and uncertainties that may affect the company's business prospects and performance.
SOURCE Clifton Mining Company
For further information: For additional information, contact Dr. Ken Friedman, President at 303-642-0659, or Keith Moeller at 801-756-1414 ext.100.
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