Vancouver, BC – February 14, 2012 – Corex Gold Corp. (the “Company”) further to its news release of January 20, 2012 is pleased to advise it has received TSX Venture Exchange (“Exchange”) approval on the Amendment Agreement for the acquisition of the Hilda 35 Fraccion 1 mining concession.
The key terms of the Amending Agreement, and exercise of the Final Contract include:
- US$150,000 to be paid on or before December 9, 2011 (paid); and
- US$569,000 to be paid on or before January 23, 2012 (paid).
- US$100,000 (CDN$100,950) within 10 days of the exercise of the Final Contract (528,534 issued at a deemed price of CDN$0.19);
- US$100,000 on or before June 30, 2012.
The Holder will have the right at any time prior to the Maturity Date, subject to the approval of the Exchange, to convert:
- the Principal Sum into common shares of the Company (“Shares”) at a conversion price equal to the greater of $0.20 and the Market Price (as defined in the policies of the Exchange.
Corex Gold Corp is a Canadian resource company focused on the acquisition, exploration, and development of precious metal deposits in Mexico. Corex is currently developing its flagship property, the Santana Project, which is a new discovery in Sonora, Mexico. In addition, Goldcorp Inc. (TSX:G – NYSE:GG) has implemented an on-going exploration program on Corex’s 100% owned Zuloaga property in Zacatecas, Mexico.
ON BEHALF OF THE BOARD
“Craig D. Schneider”
President & CEO
FOR FURTHER INFORMATION PLEASE CONTACT:
President & CEO
VP Corporate Development
E-mail: [email protected]
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.” The foregoing information may contain forward-looking statements relating to the future performance of Corex Gold Corp. Forward-looking statements, specifically those concerned with future performance are subject to certain risks and uncertainties, and actual results may differ materially. These risks and uncertainties are detailed from time to time in Corex Gold Corp.’s filings with the appropriate securities commissions.