Trading Symbol: TSXV: IG
CALGARY, July 15, 2015 /CNW/ - Infinito Gold Ltd. (the
"Company") announces that all of the directors of the Company and
all of the officers of the Company have resigned from their
respective positions with the Company effective
immediately.
As of the date of this news release, the Company has a material
working capital deficit comprised primarily of demand loan
principal in excess of $19.7 million,
$50.5 million in principal pursuant
to convertible notes, and aggregate interest owing in excess of
$90.1 million, such principal amounts
and the then-owing interest being disclosed in previous news
releases and in the Company's December 31,
2014 condensed consolidated interim financial statements
which should be read in conjunction with the Company's audited
consolidated financial statements dated March 31, 2014, both of which are available on
SEDAR (www.sedar.com).
As a result of the aforementioned working capital deficit and
given the fact that the Company's major shareholder and creditor
has advised the Company that it is unwilling to advance any further
funds to the Company, the Company has concluded that it will not be
possible for it to continue operations.
INFINITO GOLD LTD.
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.
SOURCE Infinito Gold Ltd.