VANCOUVER, July 7, 2014 /CNW/ - Fire River Gold Corp.
(TSXV: FAU), (OTCQX: FVGCF), (FSE: FWR) (the "Company" or "Fire
River") announces Waterton Global Value , L.P. ("Waterton") has
taken full and unrestricted ownership of the Nixon Fork Gold Mine
and Mystery Creek Resources, Inc. ("MCRI"), the U.S. corporation
that owns the mine. This action is a result of the default by Fire
River on the terms of the Credit Agreement with Waterton. Fire
River and Waterton have agreed that Fire River will deliver all
rights, debts, properties and obligations of MCRI to Waterton and
Waterton will accept such as full and final satisfaction of the
indebtedness due to Waterton under the Credit Agreement. As part of
the final Settlement Agreement Waterton also agrees to pay to Fire
River approximately C$250,000 in cash
and other obligations.
Fire River intends to use the proceeds of the cash settlement to
work toward lifting the Cease Trade Order that is currently in
effect with a view to resuming trading on the TSX Venture
Exchange.
FIRE RIVER GOLD CORP.
"Blane W.
Wilson"
Blane W. Wilson
President and CEO
Cautionary Note Regarding Forward-Looking Statements
Certain statements contained in this news release constitute
"forward-looking information" as such term is used in applicable
Canadian securities laws, including with respect to lifting the
Cease Trade Order currently in effect and resuming trading on the
TSX Venture Exchange. Forward-looking information is based on plans
of management at the date the information is provided and certain
factors and assumptions of management. Forward looking information
is subject to a variety of risks and uncertainties and other
factors that could cause plans to vary materially from those
projected in such forward-looking information. The Company does not
undertake to update any forward-looking information except in
accordance with applicable securities laws.
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
SOURCE Fire River Gold Corp.