TORONTO, Feb. 27, 2018 (GLOBE NEWSWIRE) -- Croesus Gold Corp. (“Croesus” or the “Company“), a private corporation registered in the Province of Ontario, today announced that it has engaged Devon Capital to review strategic alternatives with the intention of completing a transaction (“Transaction”) in order to advance and maximize the value of the Company’s Sugarloaf Peak Gold project (“Sugarloaf”).
The Transaction may include, but is not limited to, a going public transaction by way of initial public offering or reverse takeover, a strategic investment, an outright sale or other such options as may be determined by the Company to be in the best interest of its shareholders. The process is expected to take no longer than six months, however there is no guarantee a Transaction will be completed within the expected timeframe.
On behalf of the Board of Directors
Croesus Gold Corp.
Marc Pais
Chief Executive Officer
About Croesus Gold Corp.
Croesus is a private gold exploration company that holds a 100% interest in the Sugarloaf Peak Gold project located in La Paz County, Arizona. Sugarloaf Peak contains a historic resource (non NI 43-101 compliant) of 100 million tons containing 1.5 million ounces of gold and 25 million ounces of silver. Additional information on Sugarloaf can be found at www.croesusgoldcorp.com.
For further information please contact:
Marc Pais
mpais@croesusgoldcorp.com
(416) 565-7689
About Devon Capital
Devon Capital is a Toronto based exempt market dealer that specializes in corporate advisory and financing transactions. Its principal has over 20 years of experience working in the Canadian public markets.
For further information please contact:
Tim Dalton
tdalton@devcap.ca
(416) 728-4294
Cautionary & Forward Looking Information
This news release contains certain forward-looking statements that reflect the current views and/or expectations of management with respect to performance, business and future events, including but not limited to express or implied statements and assumptions regarding the Company's intention to negotiate for or complete a Transaction. Forward-looking statements are based on the then-current expectations, beliefs, assumptions, estimates and forecasts about the business and the industry and markets in which the Company operates. Forward-looking statements are not guarantees of future performance and involve risks, uncertainties and assumptions which are difficult to predict. In particular, there is no guarantee that the Company will successfully negotiate and enter into a definitive agreement or complete a Transaction contemplated herein. Accordingly, readers should not place undue reliance on forward-looking statements and information, which are qualified in their entirety by this cautionary statement. The Company does not undertake any obligations to release publicly any revisions for updating any voluntary forward-looking statements, except as required by applicable securities law.