CB Gold Inc. Announces Consolidation of Senior Management Roles, Other Cost Reductions and Issuance of Stock Options
20 Dicembre 2013 - 11:13PM
Marketwired
CB Gold Inc. Announces Consolidation of Senior Management Roles,
Other Cost Reductions and Issuance of Stock Options
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Dec 20, 2013) - CB
Gold Inc. (TSX-VENTURE:CBJ) ("CB Gold" or the "Company") announces
that due to the recent volatility in the gold price and the
constrained financial markets it continues to actively reduce costs
and conserve its cash, whilst also progressing its NI 43-101
resource statement and Preliminary Economic Assessment for its
Vetas Gold project. Giles Baynham has resigned as President and
Director of CB Gold, effective December 20th, 2013, and other
officers and directors have accepted temporary reductions in
salaries and fees of 33% to 100%, demonstrating an acknowledgement
of the need for restraint at this time and assisting in the
preservation of the Company's cash resources, while maintaining a
focus on the long term objectives of the Company and its
shareholders. The Chief Executive Officer will take on the role of
President of the Company.
Fabio Capponi, CEO of CB Gold commented, "Giles has made a
valuable contribution to CB Gold during his term as President. I
want to thank him for his input over the past four years and wish
him the best in his future endeavors."
The company also announces the issuance of up to 2,775,000
incentive stock options to various directors, advisory board
members, officers, employees and key consultants. The options have
been issued under the Company's existing Stock Option Plan, have an
exercise price of $0.13 and are exercisable for a period of five
years.
About CB Gold Inc.:
CB Gold is a mineral exploration company headquartered in
Vancouver, British Columbia. CB Gold, through its wholly-owned
subsidiary, Leyhat Colombia Sucursal, is actively pursuing the
exploration and development of mineral properties in the Republic
of Colombia. The Vetas Gold Project consists of a number of
existing mines (operations currently suspended) and exploration
concessions.
For more information on CB Gold please visit our web site at
www.cbgoldinc.com.
Cautionary Note Regarding Forward-Looking Statements
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 news release.
The securities of CB Gold described herein have not been and
will not be registered under the United States Securities Act of
1933, as amended (the "U.S. Securities Act") or
any state securities laws and may not be offered or sold within the
United States or to U.S. Persons unless registered under the U.S.
Securities Act and applicable state securities laws or an exemption
from such registration is available.
Some of the statements contained in this release are
forward-looking statements, such as the expected use of proceeds
and estimates and statements that describe the Company's future
plans, objectives or goals, including words to the effect that the
Company or management expects a stated condition or result to
occur. Since forward-looking statements address future events and
conditions, by their very nature, they involve inherent risks and
uncertainties. Actual results in each case could differ materially
from those currently anticipated in such statements.
CB Gold Inc.Fabio CapponiCEO+1 (604)
630-5870info@cbgoldinc.comwww.cbgoldinc.com
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