California Gold Mining Inc.
TSX VENTURE : CGM

August 23, 2013 16:11 ET

CORRECTION FROM SOURCE: Pierre Caland Acquires Ownership of Securities of California Gold Mining Inc.

TORONTO, ONTARIO--(Marketwired - Aug. 23, 2013) - Pierre Caland of Ruttimattstrasse 16, Gstaad, Switzerland, 3780, today announced that he has acquired and assumed direction and control through an inheritance of the following securities of California Gold Mining Inc. (TSX VENTURE:CGM) (the "Reporting Issuer"):

  • 10,700,000 common shares ("Shares"); and

  • 8,025,000 Share purchase warrants ("Warrants") exercisable for 8,025,000 Shares at a price of $0.15 per Share until February 8, 2017.

The above-noted interests are held by Wallington Investment Holdings Ltd. ("Wallington"). Mr. Caland is the ultimate sole beneficial shareholder of, and exercises complete voting control over, Wallington.

In addition, Wallington purchased of 250,000 Shares of the Reporting Issuer through the facilities of the TSX Venture Exchange (the "Exchange") at a price of $0.09 per Share, and 50,000 Shares of the Reporting Issuer through the facilities of the Exchange at a price of $0.10 per Share (the "Purchases").

Immediately following completion of the Purchases, Wallington owns 11,000,000 Shares, or approximately 8.55% of the Reporting Issuer's issued and outstanding Shares on a non-diluted basis.

Assuming the exercise of the Warrants, Mr. Caland would beneficially own and exercise control and direction over an aggregate of 19,025,000 Shares, representing approximately 13.92% of the Reporting Issuer's issued and outstanding Shares on a partially-diluted basis.

The Shares and Warrants are being held for investment purposes. In the future Mr. Caland may, depending on market and other conditions, increase or decrease his beneficial ownership of securities of the Reporting Issuer.

Contact Information

  • Peterson Law Professional Corporation
    Dennis H. Peterson
    (416) 777-6772
    390 Bay Street, Suite 806
    Toronto, Ontario M5H 2Y2