|
|
Home | Submit Press Release | Advertise | Submit Website
(EMAILWIRE.COM, July 22, 2013 ) San Francisco, CA -- The company True Gold Mining has recently announced they are embarking on a new entry into a strategy investment agreement with the Liberty Metals & Mining Holdings LLC. The agreement will, upon completion, make LMM the largest shareholder of True Gold Mining Inc.
LMM is a subsidiary of the Liberty Mutual Insurance company, and will be investing over $23 million in True Gold with a combination of non-brokered placements of True Gold shares, as well as sale of 2% net smelter return of royalty on the Karma Gold Project.
LMM will also purchase over 42 million shares at a $0.33 per share pricing that proceeds approximately $17.4 million Canadian. The purchase shares will ultimately represent 19.95% of the outstanding Shares when all is said and done.
Christopher Noel Dunn, the Managing Director of Liberty Metals & Mining, stands to be appointed to the True Gold board of directors. LMM will also have the ability to work alongside True Gold Mining in future equity financing in order to keep in line with the pro-rata equity ownership.
"LMM's investment comes at a pivotal time in the Karma Project's evolution," said Mark O'Dea, Executive Chairman, True Gold. "Their long-term investment strategy and financial strength are ideally suited for a company transitioning from exploration to an emerging developer. Upon completion of the feasibility study that is now underway, this funding will allow us to make deposits to secure longer lead time capital items, continue site preparation, and maintain our development schedule."
Dunn's appointment is said to add some respected voicing to the investment industry sector for the True Gold board. He is known to hold an extensive amount of experience regarding the equity and debt financing in such fields. His leadership roles in Goldman Sachs, JP Morgan, and Bear Sterns all account for quality previous experience.
About AmericaCashForGold.com
America Cash For Gold (http://www.americacashforgold.com/) allows visitors the opportunity to find out just how much money they can make today for their Gold, Silver, and Diamond items. Make big bucks today as you unload unwanted jewelry that is simply collecting dust.
AmericaCashForGold.com
Benjamin Wrights
4157669098
news@postpressrelease.com 
Source: EmailWire.com
|
|
