Brigadier Gold Limited

Brigadier Gold Limited

November 28, 2014 09:15 ET

Brigadier Gold Letter of Intent With the Shareholders of Molycomex S.A. de C.V. and Agreement With Santa Fe Terminated

TORONTO, ONTARIO--(Marketwired - Nov. 28, 2014) - Brigadier Gold Limited (TSX VENTURE:BRG) announced that its letter of intent with the shareholders of Molycomex S.A. de C.V. ("Molycomex") under which Brigadier will acquire a 70-per-cent undivided right, title and interest in 5 additional Cuatro Cienegas mineral properties in Mexico (the "Assets") through an exchange of shares of Molycomex had been terminated under a mutual release among the participating parties, due to market conditions.

The Company also announced that the agreement with Santa Fe Metals Corporation that was announced on January 8th 2014, had been terminated by way of mutual release.

The mutual release cancels the obligation of Brigadier to repay advances received by Brigadier under loans incurred in connection with the transaction including the obligation of Brigadier to issue 920,000 treasury shares to Mexican Moly Mines S.A. de C.V. in connection with those loans.

Brigadier will announce new developments as they occur.

Contact Information

  • Brigadier Gold Limited
    Herb Kokotow