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Brigadier cancels deals with Molycomex, Santa Fe Metals

2014-11-28 09:20 ET - News Release

Mr. Herb Kokotow reports

BRIGADIER GOLD LETTER OF INTENT WITH THE SHAREHOLDERS OF MOLYCOMEX S.A. DE C.V. AND AGREEMENT WITH SANTA FE TERMINATED

Brigadier Gold Ltd.'s letter of intent with the shareholders of Molycomex SA de CV, under which Brigadier will acquire a 70-per-cent undivided right, title and interest in five additional Cuatro Cienegas mineral properties in Mexico through an exchange of shares of Molycomex, has been terminated under a mutual release among the participating parties, due to market conditions.

The company also announced that the agreement with Santa Fe Metals Corp. that was announced on Jan. 8, 2014, has been terminated by way of mutual release.

The mutual release cancels the obligation of Brigadier to repay advances received by Brigadier under loans incurred in connection with the transaction, including the obligation of Brigadier to issue 920,000 treasury shares to Mexican Moly Mines SA de CV in connection with those loans.

Brigadier will announce new developments as they occur.

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