Canamex Gold revises payments from Metalstream

Jul 20, 2020

2020-07-15 10:26 ET – News Release

Mr. David Vincent reports

GOLD FORWARD SALE – UPDATE

Canamex Gold Corp. has provided an update regarding the status of its gold forward sale agreement with MetalStream Ltd., originally announced on Jan. 27, 2020, and an extension announced on April 23, 2020.

The initial first tranche payment of US$5,000,000 has been increased to US$5,500,000; and will now be completed after July 14th, 2020 due to unforeseen banking delays experienced by Metalstream. Despite these banking delays, the parties remain fully committed to the Agreement; and the first tranche payment is expected to be completed shortly.

The subsequent second and third tranches payable under the Agreement have also been amended as follows:

a) Second tranche payment of US$5,000,000 has been increased to US$5,500,000.

b) Third tranche payment of US$25,000,000 has been reduced to US$24,000,000.

The second and third tranches will be paid in accordance with the terms of the Agreement.

Rohan Cavaliero, Managing Director of Metalstream stated “Our private placement is progressing very well, and with these banking delays now behind us, we remain extremely confident of full subscriptions by the close of the offering at the end of July, 2020. On that basis, we fully expect to make the initial first tranche payment to Canamex shortly thereafter. ”

About Canamex

Canamex is a public listed company registered in British Columbia, Canada, trading on the Canadian Securities Exchange (CSE: CSQ), and is engaged in pre- development of the Bruner gold and silver project in the prolific gold jurisdiction of Nye County, Nevada. The region is home to several producing and past-producing mines along the Walker Lane Trend. Canamex completed a positive Preliminary Economic Assessment (PEA) on the Bruner project in 2016. Based on additional drilling conducted on the property, the company completed an updated PEA in 2018, which increased the resources and improved the economics of the project.

We seek Safe Harbor.

https://www.canamexgold.com/