Fire River Misses Payment to Lender
VANCOUVER, Aug. 12, 2013 /PRNewswire/ - Fire River Gold Corp. (TSXV: FAU), (OTCQX: FVGCF), (FSE: FWR) (the "Company" or "Fire River") announces that it has not made the $796,875 principal payment to Waterton Global Value, L.P. ("Lender") as per the terms of the Senior Secured Gold Stream Credit Agreement (the "Credit Facility") which payment was due on July 31, 2013.
The Company is working with its Lender and other parties to come up with a plan to settle the indebtedness under the Credit Facility, which plan may involve the Lender realizing upon the security granted to it pursuant to the Credit Facility and result in the loss of substantially all of the Company's assets.
FIRE RIVER GOLD CORP.
"Blane W. Wilson"
Blane W. Wilson
President and CEO
Cautionary Statement Regarding Forward-Looking Information
Neither 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. This news release contains forward-looking statements regarding the business and operations of Fire River Gold. In particular, statements regarding use of proceeds and production targets in the upcoming years are forward-looking statements. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from Fire River's plans or expectations include risks relating to the actual results of current exploration activities, fluctuating gold prices, possibility of equipment breakdowns and delays, exploration cost overruns, availability of capital and financing, general economic, market or business conditions, regulatory changes, timeliness of government or regulatory approvals and other risks detailed herein and from time to time in the filings made by Fire River with securities regulators. Fire River expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise except as otherwise required by applicable securities legislation.
SOURCE Fire River Gold Corp.
More by this Source
Fire River Appoints New Director
Jan 10, 2014, 11:05 ET
Fire River Announces New Mailing Address and Phone Number
Dec 18, 2013, 07:00 ET
Fire River Receives Default Notice
Oct 08, 2013, 17:45 ET
Browse our custom packages or build your own to meet your unique communications needs.
Learn about PR Newswire services
Request more information about PR Newswire products and services or call us at (888) 776-0942.