ROUYN-NORANDA, Québec, Sept. 18, 2023 (GLOBE NEWSWIRE) -- Chibougamau Independent Mines Inc. (CBG-TSX-V in Canada, CLL1-Frankfurt, Stuttgart, Berlin and Lang & Schwarz Stock Exchanges in Germany, CMAUF-OTC in the US), herein called Chibougamau, is pleased to inform shareholders that TomaGold Corporation (“TomaGold”) (TSXV: LOT, OTCQB: TOGOF) has deposited $500,000 in the bank account of Chibougamau as required. Under the option agreement for the West Block of claims TomaGold deposited $300,000, the first-year option payment. Also, per the Letter of Intent (“LOI”), $200,000 was deposited related to an exclusive six-month due diligence period to study the East Block of claims. (See Chibougamau press release dated August 14, 2023 for details of the option agreement and LOI).
In addition, TomaGold has issued instructions for the deposit of 6,000,000 TomaGold shares valued at $0.03 per share ($180,000) into Chibougamau’s stock account.
Chibougamau is pleased that the agreements have now been activated and looks forward to working with TomaGold to help them realize the value of the assets to both our benefits.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of the release.
We Seek Safe Harbour. | CUSIP Number 167101 203 LEI 529900GYUP9EBEF7U709 |
For further information, contact: | |
| Jack Stoch, P.Geo., Acc.Dir. President & CEO Chibougamau Independent Mines Inc. 86, 14th Street Rouyn-Noranda, Quebec Canada J9X 2J1 | Tel.: 819.797.5242 Fax: 819.797.1470 info@chibougamaumines.com www.chibougamaumines.com |
Forward Looking Statements
Except for historical information this News Release may contain certain “forward looking statements”. These statements may involve a number of known and unknown risks and uncertainties and other factors that may cause the actual results, level of activity and performance to be materially different from the Companies expectations and projections. A more detailed discussion of the risks is available under “disclaimer” on the Company’s website.
