China Gold International Announces Loan Agreement and Deposit Services Agreement with Related Party
China Gold International
Resources Corp. Ltd.
__________________________________________________________________
Tel: 604-609-0598 Fax: 604-688-0598 E-mail: [email protected], www.chinagoldintl.com
Suite 660, One Bentall Centre
505 Burrard Street, Box 27
Vancouver, BC
Canada V7X 1M4
China Gold International Announces Loan Agreement
and Deposit Services Agreement with Related Party
VANCOUVER, December 20 , 2018- China Gold International Resources Corp. Ltd. (TSX : CGG; HKEx:
2099) (the “ Company” or “ China Gold International Resources ”) wishes to announce that on or
about December 1 8, 201 8, Inner Mongolia Pacific Mining Co. Ltd., a cooperative joint venture
company in which the Company holds a 96.5% interests and China National Gold Group Finance
Company Ltd. (“ China Gold Finance ”) entered into a four (4) month term extension supplemental
loan agreement extending the original Loan Agreement entered into on December 18, 2017, all
other terms and conditions of the original Loan Agreement remain the same.
In addition, on or about December 18, 2018, the Company and China Gold Finance entered into a
one (1) year term extension supplemental deposit services agreement extending the original
Deposit Services Agreement ente red into on December 18, 2017, all other terms and conditions of
the original Deposit Services Agreement remain the same.
China Gold Finance is licensed by the China Banking Regulatory Commission .
China National Gold Group Co., Ltd. (formerly: China National Gold Group Corporation ), the
controlling shareholder of the Company, holds a 51% interest in China Gold Finance and therefore,
both the Deposit Services Agreement and the Loan Agreement (together, the “ Transactions”)
constitute a “related party transaction” as defined in Multilateral Instrument 61-101 – Protection of
Minority Security Holders in Special Transactions (“MI 61 -101”). For the purposes of MI 61 -101,
the Transactions are exempt from (i) minority approval requirements in accordance with section
5.7(a) by virtue of the fact that the value of the loan and the deposit, in each case, is less than 25%
of the Company's market capitalization and (ii) the formal valuation requirement because each of
the loan and the deposit is a credit facility.
About China Gold International Resources
China Gold International Resources Corp. Ltd. is based in Vancouver, BC, Canada and operates
both profitable and growing mines, the CSH Gold Mine in Inner Mongolia, and the Jiama
Copper-Polymetallic Mine in Tibet Au tonomous Region of the People’s Republic of China. The
Company’s objective is to continue to build shareholder value by growing production at its
current mining operations, expanding its resource base, and aggressively acquiring and
developing new projects internationally. The Company is listed on the Toronto Stock Exchange
(TSX: CGG) and the Main Board of The Stock Exchange of Hong Kong Limited (HKEx: 2099).
For further information on China Gold International Resources Corp. Ltd., please refer to its
SEDAR profile at www.sedar.com or contact Tel:604-609-0598,
Email:[email protected], Website:www.chinagoldintl.com.
China Gold International
Resources Corp. Ltd.
__________________________________________________________________
Tel: 604-609-0598 Fax: 604-688-0598 E-mail: [email protected], www.chinagoldintl.com
Suite 660, One Bentall Centre
505 Burrard Street, Box 27
Vancouver, BC
Canada V7X 1M4
Cautionary Note About Forward-Looking Statements
Certain information regarding China Gold International Resources contained herein may constitute forward- looking
statements within the meaning of applicable securities laws. Forward- looking statements may include estimates,
plans, expectations, opinions, forecasts, projections, guidance or other statements that are not statements of fact.
Although China Gold International Resources believes that the expectations reflected in such forward -looking
statements are reasonable, it can give no assurance that such expectations will prove to have been correct. China
Gold International Resources cautions that actual performance will be affected by a number of factors, most of
which are beyond its control, and that futur e events and results may vary substantially from what China Gold
International Resources currently foresees. Factors that could cause actual results to differ materially from those in
forward-looking statements include market prices, exploitation and explo ration results, continued availability of
capital and financing and general economic, market or business conditions. The forward- looking statements are
expressly qualified in their entirety by this cautionary statement. The information contained herein is stated as of
the current date and subject to change after that date.