INFINITO GOLD LTD. - Noteholders Waive Defaults Arising From Delay in Costa Rican Court Proceedings
29 Ottobre 2010 - 9:53PM
PR Newswire (Canada)
CALGARY, Oct. 29 /CNW/ -- Trading Symbol: TSX-V: IG CALGARY, Oct.
29 /CNW/ - Infinito Gold Ltd. (the "Company") announces that on
October 29, 2010 Exploram Enterprises Ltd. ("Exploram") and Auro
Investments Ltd. ("Auro", and together with Exploram, the
"Noteholders"), who in turn hold the outstanding $50.5 million
Secured Convertible Notes (the "Notes") of the Company, granted a
waiver of a termination event (the "Waiver") under the Standstill
Agreement executed on June 30, 2010 between the Company and the
Noteholders. Specifically, the Noteholders granted the Company a
waiver to November 30, 2010 with respect to the proceedings related
to the Tribunal Contencioso Adminastrativo (the "Tribunal") which
otherwise would have been a Termination Event on October 31, 2010
under the Standstill Agreement. This waiver represents the third
time since June 30, 2010 that the Noteholders have waived events of
default relating to the delay in the proceedings related to the
Tribunal. INFINITO GOLD LTD. John Morgan President "Neither the TSX
Venture Exchange nor its Regulation Services Provider (as that term
is defined in the policies of the TSX Venture Exchange) accepts
responsibility for the adequacy or accuracy of this release" To
view this news release in HTML formatting, please use the following
URL:
http://www.newswire.ca/en/releases/archive/October2010/29/c7381.html
pbINFINITO GOLD LTD./bbr/ b216, 102 - 8/bsupbth/b/supbAvenue
S.W./bbr/ bCalgary/bb, Alberta T2P 1B3/bbr/ bTelephone: (403)
444-5191/b/p
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