Extension of Facility Agreement and Definitive Agreements with RMB
Vancouver, BC – January 31, 2017: Black Dragon Gold Corp. (TSX-V:BDG) ('Black Dragon' or the 'Company') is pleased to announce that the Company and RMB Australia Holdings Limited (“RMB”) have agreed to extend the date of closing for the re-purchase of the RMB $US 10,000,000 debt facility (the 'Facility') to by or before 24 February 2017.
The Facility will be assigned to Black Dragon for total principal consideration of $US3,051,764.62 plus interest.
The Company continues to work with investors and shareholders to finalise a funding package that will allow the Company to close the RMB agreements and provide for its near term working capital requirement until project financing. The funding package will include participation by shareholders in the current private placement (See January 9, 2017 News release).
Brian Wesson commented: “The Company once again expresses its appreciation for the support of RMB and looks forward to closing on the agreements. The Company has completed its strategy for progressing the project permitting and development, is in the process of completing its short term financing and is finalising a long term strategy to unlock and maximize shareholder’s value as we advance the Salave project.
Signed "Brian Wesson"
President and Chief Executive Officer
on behalf of the Board of Directors
FOR FURTHER INFORMATION PLEASE CONTACT:
Suite 300, 1055 West Hastings Street
Vancouver, B.C., V6E 2E9
Tel: (604) 694-1600
Cell: (778) 240-7055
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 this release.