Crown Gold Withdraws From Proposed Merger With Pasofino Gold
July 11 2013 - 5:56PM
Access Wire
TORONTO, CANADA, July
11, 2013 - Crown Gold Corporation ("Crown" or the
"Company") (TSX Venture: CWM) reports that it has decided not to proceed
with the proposed acquisition of Pasofino Gold Corporation
("Pasofino") which was announced on September 17, 2012.
(See Crown's news releases
dated September 17, 2012 and October 10, 2012).
Stephen Dunn, CEO of Crown, said "We
are disappointed that we were not able to complete this
transaction, but the changing legal and regulatory framework in
Colombia has made it difficult to complete the due diligence we
required to proceed with the merger. It appeared to Crown that
there was little likelihood of resolution of these matters before
substantial property payments became due in the near future."
For Further Information Contact:
Mr. Stephen Dunn, President and CEO, Crown Gold
Corporation (416) 361-2827
or email
info@crowngoldcorp.com
or see the Crown website at
www.crowngoldcorp.com
Neither 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.
This press release
contains forward-looking statements within the meaning of
applicable Canadian and U.S. securities regulation, including
statements regarding the future activities of the Company.
Forward-looking statements reflect the current beliefs and
expectations of management and are identified by the use of words
including "will", "anticipates", "expected to", "plans", "planned"
and other similar words. Actual results may differ significantly.
The achievement of the results expressed in forward-looking
statements is subject to a number of risks, including those
described in the Company's management discussion and analysis as
filed with the Canadian securities regulatory authorities which are
available at www.sedar.com.
Investors are cautioned not to
place undue reliance upon forward-looking statements.
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