|By Marketwired .||
|August 29, 2014 12:30 PM EDT||
VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 08/29/14 -- Delta Gold Corporation (the "Company" or "Delta") (TSX VENTURE:DLT) reports that it has filed on SEDAR (www.sedar.com.) its unaudited condensed interim consolidated financial statements and related management discussion and analysis ("MD&A") for three and nine months ended June 30, 2014.
The Company reported a loss and comprehensive loss for the three and nine months ended June 30, 2014 of $454,079 and $3,775,122 respectively compared with $591,406 and $2,636,738 in the three and nine months ended June 30, 2013.
The activities in the current financial reporting period focused on business development investigations and the recently announced transaction with Commonwealth Silver and Gold Mining Inc. ("CSGM"),
The Company's working capital at June 30, 2014 was $4,298,678.
On June 6, 2014 Delta and CSGM signed a definitive arrangement agreement (the "Transaction") with respect to a proposed combination which would result in a reverse takeover of Delta by CSGM.
The Transaction with CSGM is now expected to close by the end of October 2014. Finalizing the required documentation and responding to queries from the TSX Venture Exchange has delayed the overall process and the concurrent financing. The Company expects its stock to remain halted from trading until the closing of the Transaction.
Delta's CEO, Marco Romero, stated: "We continue to focus on closing the Transaction with CSGM. This will allow us to diversify and to deliver a nearer term gold and silver mine development opportunity with strong exploration potential that is synergistic with the Imperial Project. We have also continued our dialogue with the Quechan Tribe, striving to develop a mutually respectful working relationship that will allow us to move forward collaboratively with the Imperial Project feasibility study and related activities".
Delta Gold Corporation is a development stage mining company with the goal of building a successful mid-tier gold producer committed to industry-leading technical and ethical best practices. Our business strategy is to identify and evaluate mineral investment opportunities located in favourable jurisdictions and settings, and to prudently acquire and develop projects that are economically, socially and environmentally viable.
Neither the Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward Looking Statements
This document may contain "forward-looking information" within the meaning of Canadian securities legislation and "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 (collectively, "forward-looking statements"). These forward-looking statements are made as of the date of this document and Company does not intend, and does not assume any obligation, to update these forward-looking statements, except as required under applicable securities legislation. By their very nature forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements.
Delta Gold Corporation
President & CEO
604-681-2020, ext. 101
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