Shares Outstanding: 222,025,246
Trading Symbols: TSX: GGD
HALIFAX, March 18, 2020 /CNW/ - GoGold Resources Inc. (TSX: GGD) (OTCQX: GLGDF) ("GoGold", "the Company") provides an update relating to the COVID-19 related market uncertainty and an update on the Company's upcoming AGM scheduled for March 25, 2020.
The Company is following WHO directives at its Parral and Los Ricos projects which are in full operation.
"The constantly changing COVID-19 situation is unprecedented and for many is a time filled with uncertainty. The safety of our employees is of the utmost importance to us. We'd like to assure our shareholders that operations at Parral and Los Ricos are continuing as we monitor the situation. Procedures have been implemented at both sites including employee education and increased sanitization. All individuals entering the sites will be monitored for symptoms including elevated temperatures," said Brad Langille, President and CEO. "With the recently completed financing, the Company is in a strong financial position with a current cash balance of approximately $20 million USD, which provides the Company with the flexibility to manage this unprecedented event and position itself strongly for the future."
Annual General Meeting ("AGM") Update
The Company's AGM is scheduled for March 25, 2020 at 6:00 PM at Hotel Halifax, 1990 Barrington Street, in Halifax, NS. The Company encourages all shareholders to vote online in advance of the meeting date and not to attend the meeting in person to minimize the number of individuals present in response to the COVID-19 situation. Guests will not be permitted to attend the meeting. The legal requirements of the AGM will be completed, with no traditional social reception or investor presentation. The Company will adhere to all Health Canada and Provincial restrictions and recommendations regarding public meetings, and social distancing measures will be in place.
About GoGold Resources
GoGold Resources (TSX: GGD) is a Canadian-based silver and gold producer focused on operating, developing, exploring and acquiring high quality projects in Mexico. The Company operates the Parral Tailings project in the state of Chihuahua and has the Los Ricos exploration project in the state of Jalisco. Headquartered in Halifax, NS, GoGold is building a portfolio of low cost, high margin projects. For more information visit gogoldresources.com.
The securities described herein have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws, and may not be offered or sold within the United States or to, or for the benefit of, U.S. persons (as defined in Regulation S under the U.S. Securities Act) except in compliance with the registration requirements of the U.S. Securities Act and applicable state securities laws or pursuant to exemptions therefrom. This release does not constitute an offer to sell or a solicitation of an offer to buy of any of GoGold's securities in the United States.
This news release may contain "forward-looking information" as defined in applicable Canadian securities legislation. All statements other than statements of historical fact, included in this release, including, without limitation, statements regarding the Parral tailings project, the Los Ricos project, future operating margins, future production and processing, and future plans and objectives of GoGold, constitute forward looking information that involve various risks and uncertainties. Forward-looking information is based on a number of factors and assumptions which have been used to develop such information but which may prove to be incorrect, including, but not limited to, assumptions in connection with the continuance of GoGold and its subsidiaries as a going concern, general economic and market conditions, mineral prices, the accuracy of mineral resource estimates, and the performance of the Parral project There can be no assurance that such information will prove to be accurate and actual results and future events could differ materially from those anticipated in such forward-looking information.
Important factors that could cause actual results to differ materially from GoGold's expectations include exploration and development risks associated with GoGold's projects, the failure to establish estimated mineral resources or mineral reserves, volatility of commodity prices, variations of recovery rates, and global economic conditions. For additional information with respect to risk factors applicable to GoGold, reference should be made to GoGold's continuous disclosure materials filed from time to time with securities regulators, including, but not limited to, GoGold's Annual Information Form. The forward-looking information contained in this release is made as of the date of this release.
SOURCE GoGold Resources Inc.
For further information: Steve Low, Corporate Development, GoGold Resources, T: 416 855 0435, E: [email protected]