RTG Mining Inc. Announces Sale of Non Core Assets FOR C$3.35M Announcement to the Toronto Stock Exchange and Australian Securities Exchange
Not for release to US wire services or distribution in the United States
RTG MINING INC. ANNOUNCES
SALE OF NON CORE ASSETS FOR C$3.35M
ANNOUNCEMENT TO THE TORONTO STOCK EXCHANGE
AND AUSTRALIAN SECURITIES EXCHANGE
10 JULY 2020
The Board of RTG Mining Inc. (“ RTG”, the “Company”) (TSX Code: RTG, ASX Code:
RTG) is pleased to announce that the Company has finalised agreements for the sale of
its remaining interests in Thor Explorations Ltd (“Thor”), received in consideration for the
sale of the Segilola Gold Project in Nigeria some years ago. RTG has sold its
shareholding for a total consideration of C$2.45m and has agreed to sell the royalty for
a further C$0.65m in cash and C$0.25m of shares in Vo x Royalty Corp. (TSXV:VOX).
Completion of the royalty transaction is anticipated in the 60 days following satisfaction
of the notice period with Thor, with total consideration for the two transaction being
C$3.35m.
ABOUT RTG MINING INC
RTG Mining Inc. i s a mining and exploration company listed on the main board of the
Toronto Stock Exchange and the Australian Securities Exchange. RTG is currently
focused primarily on progressing the Mabilo Project to start -up having recently received
a mining permit for the project, with a view to moving quickly and safely to a producing
gold company.
RTG also has a number of exciting new opportunities which it remains committed to but
during these uncertain times the primary focus is on advancing the Mabilo Project.
RTG has an experienced management team which has to date developed seven mines
in five different countries, including being responsible for the development of the Masbate
Gold Mine in the Philippines through CGA Mining Limited . RTG h as some of the most
respected international investors as shareholders including Franklin Templeton, Equinox
Partners and Sun Valley.
ENQUIRIES
Australian Contact US Contact
President & CEO – Justine Magee Investor Relations – Jaime Wells
Tel: +61 8 6489 2900 +1 970 640 0611
Fax: +61 8 6489 2920
Email: [email protected] [email protected]
COMPLIANCE STATEMENT
Date: 10 July 2020
Authorised for release by: By the Board of Directors
CAUTIONARY NOTE STATEMENT
The Toronto Stock Exchange has not reviewed nor does it accept responsibility for the
accuracy or adequacy of this press release, which has been prepared by management.
This announcement includes certain “forward -looking statements” within the meaning of
Canadian securities legislation. All statem ents in this announcement, other than
statements of historical facts are forward-looking statements, including statements made
or implied relating to the Company's objectives, strategies to achieve those objectives,
the Company's beliefs, plans, estimates and intentions, and similar statements
concerning anticipated future events, plans for further exploration. Forward -looking
statements involve various risks and uncertainties and are based on certain factors and
assumptions. 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
RTG’s expectations include uncert ainties related to market conditions and demand for
the Private Placement, the receipt of requisite shareholder and regulatory approvals,
fluctuations in gold and other commodity prices and currency exchange rates;
uncertainties relating to interpretation of drill results and the geology, continuity and grade
of mineral deposits; uncertainty of estimates of capital and operating costs, recovery
rates, production estimates and estimated economic return; the need for cooperation of
government agencies in the development of RTG’s mineral projects; the need to obtain
additional financing to develop RTG’s mineral projects; the possibility of delay in
development programs or in construction projects and uncertainty of meeting anticipated
program milestones for RTG ’s mineral projects and other risks and uncertainties as
discussed in RTG’s annual report for the year ended December 31, 2019 and detailed
from time to time in our other filings with the Canadian securities regulatory authorities
available at www.sedar.com. The forward‐looking statements made in this announcement
relate only to events as of the date on which the statements are made. RTG will not
release publicly any revisions or updates to these forward ‐looking statements to reflect
events, circumstances o r unanticipated events occurring after the date of this
announcement except as required by law or by any appropriate regulatory authority.
NOT FOR RELEASE OR DISTRIBUTION IN THE UNITED STATES
This announcement has been prepared for publication in Canada and Australia and may
not be released to US wire services or distributed in the United States. This
announcement does not constitute an offer to sell, or a solicitation of an offer to buy,
securities in the United States or any other jurisdiction. Any secur ities described in this
announcement have not been, and will not be, registered under the US Securities Act of
1933, as amended (the “US Securities Act”), or any state securities laws, and may not be
offered or sold in the United States except in transactions exempt from, or not subject to,
registration under the US Securities Act and applicable US state securities laws.