China Gold International Announces the Renewal of 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 the Renewal of
Deposit Services Agreement with Related Party
VANCOUVER, December 22, 2020- China Gold International Resources Corp. Ltd. (TSX: CGG; HKEx:
2099) (the “ Company” or “ China Gold International Resources ”) wishes to announce that on
December 22, 20 20, the Compa ny and China National Gold Group Finance Co., Ltd. (“China Gold
Finance”) entered into a 2021 Deposit Services Agreement to extend the original Deposit Services
Agreement entered into on December 18, 2017 for a one (1) year term with adjusted daily cap of
deposit principal and interest. A ll other terms and conditions of the original Deposit Services
Agreement remain the same. The term of the original Deposit Services Agreement will be extended
to commence 1 January 2021 through 31 December 2021 and the daily cap will be adjusted to RMB
180 million.
China Gold Finance is licensed by the Chin a 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, the Deposit Services
Agreement (“ Transaction”) constitute s 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 Transaction is exempt from the minority approval requirements
of MI 61-101 in accordance with section 5.7(a) and the formal valuation requirement in accordance
with section 5.5(a) by virtue of the fact that the value of the deposits is less than 25% of the
Company's market capitalization .
About China Gold International Resources
China Gold International Resources Corp. Ltd. is incorpor ated in British Columbia, Canada and
operates both profitable and growing mines, the CSH Gold Mine in Inner Mongolia Autonomous
Region, and the Jiama Copper -Polymetallic Mine in Tibet Autonomous Region of the People’s
Republic of China. The Company’s obje ctive 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 Exchang e
(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.
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, f orecasts, 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
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
which are beyond its control, and that future 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 exploration 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.