VANCOUVER, BRITISH COLUMBIA--(Marketwire - July 18, 2012) - International Gold Corp. ("IGC")
(OTCQB:ITGC) announced today that it has signed a Letter of Intent ("LOI") with SignalChem Lifesciences Corporation ("SLC") whereby SLC will merge with and into a subsidiary of IGC in exchange for IGC issuing 40,000,000 of its restricted common shares to the shareholders of SLC. The completion of the proposed LOI is subject to a number of conditions including, negotiation and execution of a definitive agreement, receipt of all required regulatory approvals, and completion of due diligence investigations by both companies. Both companies will use their best efforts to come to a definitive agreement for this transaction by September 18, 2012.
About SignalChem Lifesciences Corporation
SLC, a private company incorporated in British Columbia, discovers and develops innovative novel small molecule targeted therapies for the treatment of cancer, inflammation, autoimmune, pulmonary and central nervous system diseases with unmet medical need. SLC currently has created a robust pipeline of novel drug candidates for the treatment of cancer, Alzheimer's disease, and pulmonary arterial hypertension by applying its proprietary drug discovery technology platform. SLC plans to begin human clinical trials with its novel drug candidates in these three diseases in 2013. In addition, SLC has developed a robust kinase technology platform that SLC believes it has optimized to generate additional new drug candidates against clinically relevant and biologically validated next generation kinase targets. These new kinase drug candidates should significantly bolster the current drug candidate pipeline.
DISCLAIMER Forward-Looking Statements: Except for statements of historical fact, this press release contains certain "forward-looking statements" as defined by the Private Securities Litigation Reform Act of 1995, including, without limitation expectations, beliefs, plans and objectives regarding the development, use and marketability of products. Such forward-looking statements are based on present circumstances and on IGC's predictions with respect to events that have not occurred, that may not occur, or that may occur with different consequences and timing than those now assumed or anticipated. Such forward-looking statements involve known and unknown risks, uncertainties and other factors, and are not guarantees of future performance or results and involve risks and uncertainties that could cause actual events or results to differ materially from the events or results expressed or implied by such forward-looking statements. Such factors include general economic and business conditions, the ability to successfully develop and market products, consumer and business consumption habits, the ability to fund operations and other factors over which IGC has little or no control. Such forward-looking statements are made only as of the date of this release, and IGC assumes no obligation to update forward-looking statements to reflect subsequent events or circumstances. Readers should not place undue reliance on these forward-looking statements.