Vancouver, British Columbia--(Newsfile Corp. - May 8, 2018) - Canamex Gold Corp. (CSE: CSQ) (OTC: CNMXF) (FSE: CX61) is one of the latest new listings on the Canadian Securities Exchange, trading under the symbol "CSQ", having previously traded on the TSX Venture Exchange. The company is fast-tracking development of its flagship Bruner Gold Development Project in the prolific gold jurisdiction of Nye County, Nevada. The region is home to several producing and past-producing mines along the Walker Lane Trend.
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Canamex spent US$6 million to earn 70%, purchasing the remaining 30% interest for US$1 million to bring its interest to 100%. Canamex completed a positive Preliminary Economic Assessment on the Bruner Gold Development Project in 2016, which was updated in 2018, following addition drilling. Canamex is now moving the Bruner Gold Project forward into permitting and development on the strength of this positive updated PEA.
The second asset is the Silverton Gold property, a gold exploration project, in Nevada, which has geological similarities to the Long Canyon gold deposit in Nevada, being mined by Newmont Mining.
In February 2018, Canamex Gold was one of 5 founding members of the newly created Ethereum Blockchain Strategic Alliance for Gold and Silver asset backed crypto-tokens. The members of the Alliance plan to collaborate for the purposes of offerings of crypto-tokens and initial token offerings or ITOs.
David Vincent, CEO, stated at that time: "The Alliance seeks to utilize innovative gold and/or silver royalty stream funding models, for gold and/or silver asset backed crypto-tokens, trading and clearing on the Ethereum blockchain, for the purposes of funding gold and silver exploration and mine development, for the Alliance members. Interest in the blockchain technology, for secondary market trading and clearing is growing. For example, the Canadian Securities Exchange (CSE) has recently unveiled plans to develop Canada's first platform for clearing and settling securities using blockchain technology."
The company is currently raising gross proceeds of up to $6,250,000 by way of a private placement of 1 million Gold Royalty Tokens at a price of $6.25 per token. An investor can redeem 200 Gold Royalty Tokens for 1 ounce of gold until December 30, 2030. The redemption period will commence 180 days from the date the company declares commercial production of gold from the Bruner gold development project.
David Vincent, CEO, added: "To effectively develop and then to deploy these new technologies and transformative market financing models, the Company should be listed on an exchange that welcomes and encourages entrepreneurship and innovation. Therefore, based on the innovation and entrepreneurship support offered by the CSE, as well as the future significant cost savings, the Board of the Company decided to move its securities primary listing from the TSX-V to the CSE. Shareholders of the Company should see considerable benefits resulting from this decision, both in the near-term and in the longer-term."
For more information, please visit the company's website at www.canamexgold.com, contact, David Vincent, CEO, at david.vincent@canamexgold.com, or Mike Stark, Chairman, at 604-833-4278 or by email at mike.stark@canamexgold.com.
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