Emgold Retains German Market-Maker Services
VANCOUVER, March 25, 2020 - Emgold Mining Corp. (TSXV:EMR)(OTC:EGMCF)(FRA:EMLM) ("Emgold" or the "Company") announces that, subject to regulatory approval, it has retained futurum bank AG? ("futurum" or "futurum bank") to initiate market-making services and provide assistance in maintaining an orderly trading market for the Company's common shares on the Frankfurt Stock Exchange ("FSE"). The futurum bank engages in the trading of stocks, bonds, and related stock exchange products. Its clients include domestic and foreign banks, insurance companies, assets managers, and fund companies. It was originally founded in 1983 and is based in Frankfurt am Main, Germany.
The futurum bank is an arms-length entity to Emgold. Prior to the start of the contract, futurum had no interest, direct or indirect, in the Company or its securities. There are no performance factors contained in the agreement between futurum and the Company and futurum will not receive any shares or options from the Company as compensation for the services rendered. Other than the fees disclosed below, any funds required for the market-making services are provided by Futurum.
Emgold will pay a one-time up-front fee of 7,500 Euro and tri-annual fees of 10,000 Euros for these services. The term of the agreement is 12 months and can be extended for an additional 12 months. If extended beyond 24 months, a 3 month notice period is required for cancellation. The agreement is subject to TSX Venture Exchange approval.
Emgold is a junior gold and base metal exploration company focused on Nevada and Quebec. The Company's strategy is to look for quality acquisitions, add value to these assets through exploration, and monetize them through sale, joint ventures, option, royalty, and other transactions to create value for our shareholders. Our Nevada properties, owned or under option, include Golden Arrow, New York Canyon, Mindora, Buckskin Rawhide East, Buckskin Rawhide West, and Koegel Rawhide. Our Quebec properties, owned or under option, include Casa South and a 50% interest in the East-West Property (with option to increase ownership to 55%).
Golden Arrow is a core asset for the Company with a measured and indicated gold and silver resource. New York Canyon is an advanced stage exploration property under and Option to Joint Venture Agreement with Rio Tinto Plc (NYSE: RIO) where subsidiary, Kennecott Exploration, can earn up to a 75% interest in the property by completing US$22.5 million in expenditures after which a joint venture would be formed. Buckskin Rawhide East is an inlying property to Rawhide Mining LLC's operating Rawhide Mine. Casa South is adjacent to Hecla Mining Corporation's (NYSE: HL) operating Casa Berardi Mine. East-West is adjacent to and on strike with Wesdome Gold Mine Ltd.'s (TSX: WDO) Kiena Complex (past producing Kiena Mine) and Osikso Mining Corporation's (TSX: OSK) Marban Block (past producing Marban, Norlartic, and Kierrans Mines). Note that the location of Emgold's properties adjacent to producing or past producing mines does not guarantee exploration success at Emgold's properties. For more information on the Company, investors should review the Company's website at www.emgold.com or view the Company's filings available at www.sedar.com.
On behalf of the Board of Directors
David G. Watkinson, P.Eng.
President & CEO
For further information, please contact:
David G. Watkinson, P.Eng.
Tel: 530-271-0679 Ext 101
Neither TSX Venture Exchange nor its Regulation Services Provider (as the term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Note on Forward-Looking Statements
Certain statements made and information contained herein may constitute "forward looking information" and "forward looking statements" within the meaning of applicable Canadian and United States securities legislation. These statements and information are based on facts currently available to the Company and there is no assurance that actual results will meet management's expectations. Forward-looking statements and information may be identified by such terms as "anticipates", "believes", "targets", "estimates", "plans", "expects", "may", "will", "could" or "would". Forward-looking statements and information contained herein are based on certain factors and assumptions regarding, among other things, the estimation of mineral resources and reserves, the realization of resource and reserve estimates, metal prices, taxation, the estimation, timing and amount of future exploration and development, capital and operating costs, the availability of financing, the receipt of regulatory approvals, environmental risks, title disputes and other matters. While the Company considers its assumptions to be reasonable as of the date hereof, forward-looking statements and information are not guarantees of future performance and readers should not place undue importance on such statements as actual events and results may differ materially from those described herein. The Company does not undertake to update any forward-looking statements or information except as may be required by applicable securities laws. The Company's Canadian public disclosure filings may be accessed via www.sedar.com and readers are urged to review these materials, including any technical reports filed with respect to the Company's mineral properties.
SOURCE: Emgold Mining Corp.
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