|By Marketwired .||
|July 2, 2014 11:00 AM EDT||
VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 07/02/14 -- Precipitate Gold Corp. (the "Company" or "Precipitate") (TSX VENTURE:PRG) is pleased to announce it has reached an agreement with Gexplo S.R.L. and Santo Mining Corp. (together the "Vendor") whereby Precipitate will acquire a 100% interest in two concession applications in the Dominican Republic in exchange for a 2% net smelter royalty and the granting of 100,000 Precipitate share purchase warrants exercisable for up to three months at an exercise price of $0.30 per share.
The two concession applications, named "Richard" and "David", cover an area of 220 and 1,400 hectares respectively. The David concession is located on the north central border of Precipitate's Juan de Herrera concession within the Tireo Gold Camp and greatly increases Precipitate's prospective Tireo landholdings. The Richard concession is located about four kilometres southeast of Barrick and Goldcorp's Pueblo Viejo Gold Mine site. See attached figures (http://media3.marketwire.com/docs/NR_David_Richard_Acquisitions.pdf) for respective concession locations or visit the Company's website at www.precipitategold.com.
Jeffrey Wilson, Company President & CEO stated, "We are pleased to acquire these two concession applications. Both the David and Richard concessions have compelling technical and strategic importance. The David concession provides the Company with a significant increase of the preferred and prospective Tireo formation target rocks, while the Richard concession gives Precipitate a strategic new land position in a world-class modern gold mining camp. With the Vendor shifting its focus to other property interested in Mexico and Africa, we are pleased with the non-cash acquisition terms for these concessions and thank the Vendor for its cooperation in this process."
The Richard concession is located 4 kilometres to the southeast of Barrick Gold Corp. and Goldcorp's Pueblo Viejo Gold-Silver mining camp. The Pueblo Viejo high sulphidation epithermal gold and silver deposit hosts an estimated 22.0 million ounces of gold and 117.0 million ounces of silver and is expected to produce up to 1.0 million ounces gold this year. The Company's newly acquired Richard concession is underlain by the same Cretaceous age Los Ranchos formation rocks that host the Pueblo Viejo deposit.
The David concession is situated in the emerging Tireo Gold-Silver-Copper exploration camp adjacent to the Company's existing Juan de Herrera concession where Precipitate has been exploring in recent months. David is dominantly underlain by regionally favourable Cretaceous age Tireo formation rocks which are part of the same regional stratigraphy that hosts GoldQuest Mining's Romero discoveries and Precipitate's Ginger Ridge and Melchor zones. The addition of the David concession application gives the Company contiguous exposure to the Tireo along the southern boundary of the neighbouring Goldquest concessions including areas in close proximity to Precipitate's Melchor and Goldquest's Jengibre discoveries.
The Vendor conducted preliminary stage exploration work on both concessions, including rock, silt and soil sampling. Precipitate is reviewing this newly acquired technical data which will provide guidance to the next exploration phase on these new concessions. The Company's total Dominican land package now covers about 14,829 hectares, in both application and fully granted stages.
Precipitate can acquired a 100% interest in the Richard and David concession applications, and will assume all application obligations, in a non-cash transaction whereby Precipitate will grant the Vendor:
-- a 2% net smelter royalty ("NSR") on each of the concessions. The NSR can be purchased by Precipitate for the price of US$500,000 per 0.5% for a total purchase price of US$2,000,000; and -- 100,000 share purchase warrants ("Warrants") allowing the Vendor to purchase up to 100,000 common shares of the Company at an exercise price of $0.30 per share for up to 3 months from the date of grant. Should the Vendor exercise any of the Warrants and thereafter seek to sell some or all of the shares, it must notify Precipitate and allow Precipitate at least 10 calendar days to arrange buyers of the shares. Any warrant shares purchased by the Vendor will be subject to a four month hold period.
In advance of any transfer of rights or delivery of payment, the agreement grants Precipitate a 30 day due diligence period during which the Company will seek consent of the transfer from the Ministry of Industry and Commerce of the Dominican Republic and review all technical and legal data related to the concessions. Upon satisfactory completion of the due diligence period, Precipitate will advise the Vendor of its decision to complete, or not complete the transfer. The agreement is also subject to TSX Venture Exchange approval.
About Precipitate Gold:
Precipitate Gold Corp. is a mineral exploration company focused on exploring and advancing its mineral property interests in the Tireo Gold Trend of the Dominican Republic and Sonora State, Mexico. The Company also maintains assets in northern British Columbia and southeast Yukon Territory and is actively evaluating additional high-impact property acquisitions with the potential to expand the Company's portfolio and increase shareholder value.
Additional information can be viewed at the Company's website www.precipitategold.com.
On behalf of the Board of Directors of Precipitate Gold Corporation,
Jeffrey Wilson, President & CEO
Neither the TSX Venture Exchange nor its Regulation Service 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 press release may contain "forward-looking information" within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, included herein are forward looking information. Generally, forward-looking information may be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "proposed", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases, or by the use of words or phrases which state that certain actions, events or results may, could, would, or might occur or be achieved. This forward-looking information reflects Precipitate Gold Corp.'s ("Precipitate" or the "Company") current beliefs and is based on information currently available to Company and on assumptions it believes are reasonable. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Precipitate to be materially different from those expressed or implied by such forward-looking information. Such risks and other factors may include, but are not limited to: the exploration concessions may not be granted on terms acceptable to the Company, or at all; general business, economic, competitive, political and social uncertainties; the concessions acquired by the Company may not have attributes similar to those of surrounding properties; delay or failure to receive governmental or regulatory approvals; changes in legislation, including environmental legislation affecting mining; timing and availability of external financing on acceptable terms; conclusions of economic evaluations; and lack of qualified, skilled labour or loss of key individuals. Although Precipitate has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-looking information. Precipitate does not undertake to update any forward-looking information, except in accordance with applicable securities laws.
Updating DevOps to the latest production data slows down your development cycle. Probably it is due to slow, inefficient conventional storage and associated copy data management practices. In his session at @DevOpsSummit at 20th Cloud Expo, Dhiraj Sehgal, in Product and Solution at Tintri, will talk about DevOps and cloud-focused storage to update hundreds of child VMs (different flavors) with updates from a master VM in minutes, saving hours or even days in each development cycle. He will also...
Jan. 19, 2017 12:30 PM EST Reads: 1,165
SYS-CON Events announced today that Linux Academy, the foremost online Linux and cloud training platform and community, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Linux Academy was founded on the belief that providing high-quality, in-depth training should be available at an affordable price. Industry leaders in quality training, provided services, and student certification passes, its goal is to c...
Jan. 19, 2017 12:15 PM EST Reads: 1,986
20th Cloud Expo, taking place June 6-8, 2017, at the Javits Center in New York City, NY, will feature technical sessions from a rock star conference faculty and the leading industry players in the world. Cloud computing is now being embraced by a majority of enterprises of all sizes. Yesterday's debate about public vs. private has transformed into the reality of hybrid cloud: a recent survey shows that 74% of enterprises have a hybrid cloud strategy.
Jan. 19, 2017 12:15 PM EST Reads: 4,291
The unique combination of Amazon Web Services and Cloud Raxak, a Gartner Cool Vendor in IT Automation, provides a seamless and cost-effective way of securely moving on-premise IT workloads to Amazon Web Services. Any enterprise can now leverage the cloud, manage risk, and maintain continuous security compliance. Forrester's analysis shows that enterprises need automated security to lower security risk and decrease IT operational costs. Through the seamless integration into Amazon Web Services, ...
Jan. 19, 2017 12:00 PM EST Reads: 1,877
In the next five to ten years, millions, if not billions of things will become smarter. This smartness goes beyond connected things in our homes like the fridge, thermostat and fancy lighting, and into heavily regulated industries including aerospace, pharmaceutical/medical devices and energy. “Smartness” will embed itself within individual products that are part of our daily lives. We will engage with smart products - learning from them, informing them, and communicating with them. Smart produc...
Jan. 19, 2017 11:45 AM EST Reads: 1,690
"We provide DevOps solutions. We also partner with some key players in the DevOps space and we use the technology that we partner with to engineer custom solutions for different organizations," stated Himanshu Chhetri, CTO of Addteq, in this SYS-CON.tv interview at DevOps at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
Jan. 19, 2017 11:30 AM EST Reads: 4,299
Providing the needed data for application development and testing is a huge headache for most organizations. The problems are often the same across companies - speed, quality, cost, and control. Provisioning data can take days or weeks, every time a refresh is required. Using dummy data leads to quality problems. Creating physical copies of large data sets and sending them to distributed teams of developers eats up expensive storage and bandwidth resources. And, all of these copies proliferating...
Jan. 19, 2017 11:30 AM EST Reads: 3,900
“DevOps is really about the business. The business is under pressure today, competitively in the marketplace to respond to the expectations of the customer. The business is driving IT and the problem is that IT isn't responding fast enough," explained Mark Levy, Senior Product Marketing Manager at Serena Software, in this SYS-CON.tv interview at DevOps Summit, held Nov 4–6, 2014, at the Santa Clara Convention Center in Santa Clara, CA.
Jan. 19, 2017 11:15 AM EST Reads: 11,396
Hardware virtualization and cloud computing allowed us to increase resource utilization and increase our flexibility to respond to business demand. Docker Containers are the next quantum leap - Are they?! Databases always represented an additional set of challenges unique to running workloads requiring a maximum of I/O, network, CPU resources combined with data locality.
Jan. 19, 2017 10:15 AM EST Reads: 571
The speed of software changes in growing and large scale rapid-paced DevOps environments presents a challenge for continuous testing. Many organizations struggle to get this right. Practices that work for small scale continuous testing may not be sufficient as the requirements grow. In his session at DevOps Summit, Marc Hornbeek, Sr. Solutions Architect of DevOps continuous test solutions at Spirent Communications, explained the best practices of continuous testing at high scale, which is rele...
Jan. 19, 2017 10:15 AM EST Reads: 4,317
"We got started as search consultants. On the services side of the business we have help organizations save time and save money when they hit issues that everyone more or less hits when their data grows," noted Otis Gospodnetić, Founder of Sematext, in this SYS-CON.tv interview at @DevOpsSummit, held June 9-11, 2015, at the Javits Center in New York City.
Jan. 19, 2017 10:15 AM EST Reads: 4,877
"What is the next step in the evolution of IoT systems? The answer is data, information, which is a radical shift from assets, from things to input for decision making," stated Michael Minkevich, VP of Technology Services at Luxoft, in this SYS-CON.tv interview at @ThingsExpo, held November 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA.
Jan. 19, 2017 10:00 AM EST Reads: 5,546
The emerging Internet of Everything creates tremendous new opportunities for customer engagement and business model innovation. However, enterprises must overcome a number of critical challenges to bring these new solutions to market. In his session at @ThingsExpo, Michael Martin, CTO/CIO at nfrastructure, outlined these key challenges and recommended approaches for overcoming them to achieve speed and agility in the design, development and implementation of Internet of Everything solutions with...
Jan. 19, 2017 10:00 AM EST Reads: 5,548
WebRTC sits at the intersection between VoIP and the Web. As such, it poses some interesting challenges for those developing services on top of it, but also for those who need to test and monitor these services. In his session at WebRTC Summit, Tsahi Levent-Levi, co-founder of testRTC, reviewed the various challenges posed by WebRTC when it comes to testing and monitoring and on ways to overcome them.
Jan. 19, 2017 09:30 AM EST Reads: 6,015
DevOps tends to focus on the relationship between Dev and Ops, putting an emphasis on the ops and application infrastructure. But that’s changing with microservices architectures. In her session at DevOps Summit, Lori MacVittie, Evangelist for F5 Networks, will focus on how microservices are changing the underlying architectures needed to scale, secure and deliver applications based on highly distributed (micro) services and why that means an expansion into “the network” for DevOps.
Jan. 19, 2017 08:30 AM EST Reads: 5,182