An anonymous representative reports
PUREGOLD APPOINTS CHIEF ADMINISTRATIVE OFFICER; ANNOUNCES DIRECTOR RESIGNATIONS
The Supreme Court of British Columbia, on application by Pure Gold Mining Inc. in its continuing Companies' Creditors Arrangement Act (CCAA) proceedings, has approved the appointment of Jonathan Singh as the company's chief administrative officer (CAO), effective immediately. It is expected that following the planned departures of all other officers of the company on March 31, 2023, Mr. Singh will be the company's sole officer and signing authority. In connection with the CAO appointment, Pure Gold also announces that all members of the board of directors have each resigned as directors of the company, effective immediately.
The above-noted changes are taking place in consultation with the company's senior lender, a fund managed by Sprott Resource Lending Corp., and the court-appointed monitor in the continuing CCAA proceedings, KSV Restructuring Inc.
The company expects that the trading of its common shares on the NEX board of the TSX Venture Exchange will be suspended following the resignation of its directors.
All inquiries regarding the CCAA proceedings of the company should be directed to the court-appointed monitor, KSV. Information about the company's CCAA proceedings, including all court orders made and KSV's reports, is available on KSV's website.
About Pure Gold Mining Inc.
The company is a Canadian gold mining company, located in Red Lake, Ont., Canada. The company owns the PureGold mine, which began gold production in 2021 after the successful construction of an 800-tonne-per-day underground mine and processing facility. The company's mine is centred on a 47-square-kilometre property with significant discovery potential.
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