PureGold listing transfer to NEX
Embattled gold miner PureGold Mining on Wednesday advised that trading of its shares would be transferred to the NEX board of the TSX-V with immediate effect.
The company, which owns the idled PureGold mine in Ontario, earlier this week received protection under the Creditors Arrangement Act.
While under creditor protection, PureGold will consider all available transactional and restructuring options with a goal of maximizing value for the company and its stakeholders.
The PureGold mine will remain on care and maintenance and the management of the company will remain responsible for day-to-day operations, under the oversight of court-appointed KSV Restructuring as monitor.
PureGold placed its mine on care and maintenance a week ago, having run out of money to continue operations. At the time, the company explained that its mine had not yet achieved consistent positive site-level cash flow and that expected additional funding had not materialised.
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