Besra Gold Inc.
TSX : BEZ
ASX : BEZ
FRANKFURT : OP6

Besra Gold Inc.

July 04, 2014 08:00 ET

Besra Provides Update on Victory Corporation US$14.25 Million Placement

TORONTO, ONTARIO--(Marketwired - July 4, 2014) - Further to the company's media release of 20 June 2014, Besra (TSX:BEZ)(ASX:BEZ)(FRANKFURT:OP6) advises that discussions surrounding the subscription agreements between Besra and Victory Corporation Group have progressed with Victory or one or more of its affiliates and is expected to execute and deliver the subscription agreement to the Company for consideration by, and if thought fit approval of, Besra's board of directors during the week commencing Monday 7 July 2014."

Should board approval be given a further announcement will be made and Besra will then seek all necessary regulatory approvals, including that of the Toronto Stock Exchange. Besra will be seeking to rely on the financial hardship exemption from the shareholder approval requirement under the TSX Company Manual. There is no assurance that the placement will be concluded upon the terms disclosed in the 20 June 2014 media release or at all.

The Company will issue a further update no later than 11 July 2014.

Besra Gold Inc

John A G Seton, Chief Executive Officer

Besra - www.besra.com

Besra is a diversified gold mining company focused on the exploration, development, and mining of mineral properties in South East Asia. The Company has four key properties; the Bau Goldfield in East Malaysia, Bong Mieu and Phuoc Son in Central Vietnam, and Capcapo in the Philippines. Besra expects to expand existing gold capacity in Vietnam over the next two years and is projecting new production capacity from the Bau gold project during 2016.

Victory Corporation Group

Victory Corporation Group (VCG) is formed as a consortium of companies, representing family offices, and handled by a corporate centre in Switzerland. VCG is very active in the trading of commodities including coal, gold, iron ore, as well as crude, clean products and petroleum gas. The company has hands on experience in the shipping industry, jack up rig ownership, construction, and operations. Through its affiliates it also provides expertise for offshore pipe and platform installation, helicopter services and offshore support. The company has business experience in Europe, West Africa, the Middle East, and Asia.

Cautionary Note Regarding Forward-Looking Statements

Certain of the statements made and information contained herein is " Forward-looking information" within the meaning of applicable securities laws, including statements concerning our plans at our producing mines and exploration projects, which involve known and unknown risks, uncertainties, and other factors which may cause the actual results, performance or achievements of the Company, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking information. Forward-looking information is subject to a variety of risks and uncertainties that could cause actual events or results to differ from those reflected in the forward-looking information, including, without limitation, failure to establish estimated resources or to convert resources to mineable reserves; the grade and recovery of ore which is mined varying from estimates; capital and operating costs varying significantly from estimates; delays in obtaining or failure to obtain required governmental, environmental, or other project approvals; changes in national and local government legislation or regulations regarding environmental factors, royalties, taxation or foreign investment; political or economic instability; terrorism; inflation; changes in currency exchange rates; fluctuations in commodity prices; delays in the development of projects; shortage of personnel with the requisite knowledge and skills to design and execute exploration and development programs; difficulties in arranging contracts for drilling and other exploration and development services; dependency on equity market financings to fund programs and maintain and develop mineral properties; and risks associated with title to resource properties due to the difficulties of determining the validity of certain claims and other risks and uncertainties, including those described in each management's discussion and analysis released by the Company. In addition, forward-looking information is based on various assumptions including, without limitation, the expectations and beliefs of management; the assumed long-term price of gold; the availability of permits and surface rights; access to financing, equipment and labour and that the political environment in the jurisdictions within which the Company operates will continue to support the development of environmentally safe mining projects. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements. Accordingly, readers are advised not to place undue reliance on forward-looking statements, which speak only as of the date they are made. Except as required under applicable securities legislation, the Company undertakes no obligation to publicly update or revise forward-looking information, whether as a result of new information, future events or otherwise.

Contact Information

  • Besra Gold Inc.
    James W Hamilton
    Investor Relations
    +1 (416) 572 2525 or TF: 1 888 902 5522 (North America)
    ir@besra.com

    Besra Gold Inc.
    Steve Wilson
    Corporate Communications
    T: +64 9 9121765 or M: +64 21675660
    TF: 800 308 602 (Australia)
    steve.wilson@besra.com