Attached files
| file | filename |
|---|---|
| 8-K - MV Portfolios, Inc. | v206711_8k.htm |
| EX-10.5 - MV Portfolios, Inc. | v206711_ex10-5.htm |
| EX-10.3 - MV Portfolios, Inc. | v206711_ex10-3.htm |
| EX-10.2 - MV Portfolios, Inc. | v206711_ex10-2.htm |
| EX-10.4 - MV Portfolios, Inc. | v206711_ex10-4.htm |
| EX-10.1 - MV Portfolios, Inc. | v206711_ex10-1.htm |
EXHIBIT
99.1
California
Gold Corp. Announces Closing of Its Private Placement and
Decision
To Move Forward With Its Acquisition of up to an Eighty Percent
Interest
in Mexivada's AuroTellurio Gold-Tellurium Property in Sonora,
Mexico
NEW YORK,
Dec. 28, 2010, 2010 (Canada NewsWire via COMTEX) —
California
Gold Corp. (OTC Bulletin Board: CLGL; the "Company") is pleased to announce it
has completed a closing of a private placement offering (the "Offering")
pursuant to which the Company sold to various institutional and accredited
investors and non-U.S. persons (collectively, the "Investors") 58,478,258 units
of its securities (the "Units") for gross proceeds of $1,461,956.45, at an
offering price of $0.025 per Unit. 36,478,258 of the Units consist of one share
of the Company's common stock, par value $0.001 per share (the "Common Stock"),
and a warrant to purchase one-half share of Common Stock at an exercise price of
$0.125 per whole share (the "Warrants"). Another 22,000,000 of the Units each
consist of one share of the Company's Series A convertible Preferred stock, par
value $0.001 per share (the "Series A Preferred Stock"), and Warrants to
purchase one half of one share of Common Stock. The Warrants will be exercisable
from issuance until eighteen months after the closing of the Offering. The
Company plans to apply the net proceeds of this closing towards the AuroTellurio
Acquisition, certain outstanding accounts payable and working
capital.
As
previously reported, the Company signed a binding letter of intent (the "LOI")
with Mexivada Mining Corp. ("Mexivada") to acquire up to an 80% interest in
Mexivada's La Viuda and La Viuda-1 concessions comprising its AuroTellurio
tellurium-gold-silver property south of the city of Moctezuma, Sonora, Mexico
(the "AuroTellurio Acquisition"). The AuroTellurio project directly adjoins a
tellurium project now in active development as a tellurium mine by First Solar,
Inc. (NASDAQ: FSLR), the multi-billion solar manufacturing firm.
The
Company has completed its due diligence on the AuroTellurio property, and has
determined to proceed with the AuroTellurio Acquisition. It expects a definitive
purchase agreement and joint venture agreement to be negotiated and signed by
the parties within a reasonable time period.
James
Davidson, Chief Executive Officer of the Company, stated: "We are very excited
about closing our private placement offering which now enables us to complete
our agreement with Mexivada to acquire up to an 80% interest in Mexivada's
AuroTellurio tellurium-gold-silver mining project in Mexico. The fact that First
Solar, Inc. is now developing a directly adjacent tellurium mining project next
to this property holds great promise for significant discovery by California
Gold Corp.
"We see
this joint venture project as uniquely suited for the times. The "rare-earth"
tellurium has important uses in alternative energy, while gold and silver, we
believe, are likely to continue to rally due to macroeconomic conditions. As
Nobel Prize-winning economist Robert Mundell, 'the father of the Euro,' recently
warned, 'We are living in the worst monetary instability in the last 3,000
years.' The prospect for precious metals has seldom been more
promising."
This
press release does not constitute an offer to sell, or a solicitation of an
offer to purchase, any of the foregoing or other securities of the Company. Any
such offer may only be made by offering materials issued by the Company. The
foregoing referenced securities have not been registered under the Securities
Act of 1933, as amended (the "Securities Act"), or any state securities laws and
such securities may not be offered or sold within the United States or to or for
the account or benefit of U.S. persons unless registered under the Securities
Act and any applicable state securities laws or an exemption from such
registration is available.
About
California Gold Corp.
California
Gold Corp. is an early stage, U.S. public company currently pursuing a business
strategy in the gold, precious metals and rare metals mining sectors in the
Americas.
Forward-Looking
Statements
Certain
statements in this news release are forward-looking. All statements other than
statements of historical facts included in this news release including, without
limitation, statements preceded by, followed by or that otherwise include the
words "believes," "expects," "anticipates," "intends," "estimates," "projects,"
"potential," "target," "goal," "plans," "objective," "should" or similar
expressions or variations on such expressions are forward-looking statements.
The Company can give no assurances that the assumptions upon which the
forward-looking statements are based will prove to be correct. Because
forward-looking statements are subject to risks and uncertainties, actual
results may differ materially from those expressed or implied by the
forward-looking statements. There are a number of risks, uncertainties and other
important factors that could cause the Company's actual results to differ
materially from the forward-looking statements including, but not limited to,
the Company's ability to identify appropriate corporate acquisition and/or joint
venture opportunities in the precious and rare metals mining sector, the
Company's ability to establish technical and managerial infrastructure, the
Company's ability to raise the required capital to take advantage of and
successfully participate in any such opportunities, and future economic
conditions, political stability and precious and rare metals prices The Company
disclaims any obligations or undertaking to publicly release any updates or
revisions to any forward-looking statement contained in this news release to
reflect any change in its expectations with regard thereto or any change in
events, conditions or circumstances on which any such statement is
based.