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Geologix Sells Silver Cloud Exploration Property in Nevada to Rimrock Gold
Geologix Explorations Inc. (the "Company" or "Geologix")
(TSX:GIX)(OTCQX:GIXEF)(FRANKFURT:GF6)(BERLIN:GF6)(MUN:GF6)(STUT:GF6) is pleased
to announce that it has sold its Silver Cloud Property ("Silver Cloud") in
northern Nevada to Rimrock Gold Corp. ("Rimrock Gold"), a Nevada corporation
(OTCQB:RMRK).
"Following the release of a positive Prefeasibility Study in March, management
at Geologix is squarely focused on the advancement of the Tepal Project in
Mexico," stated Dunham Craig, Geologix's President and Chief Executive Officer.
"The sale of Silver Cloud will further streamline Geologix, and ensure that this
promising Nevada project will receive the resources that we believe it
deserves."
Pursuant to the terms of the Purchase Agreement, the Company has sold all of its
interest in 552 unpatented lode mining claims ("Mining Claims") that constitute
the Silver Cloud Property. Rimrock Gold has agreed to issue 500,000 shares of
its common stock to Geologix, of which Geologix is required to assign 100,000
shares to Teck Resources Inc. In addition, if Rimrock Gold delineates more than
two million ounces of gold in proven and probable reserves on the Mining Claims,
then Rimrock Gold will issue a further 250,000 shares of common stock to
Geologix.
considering there first major revenue announcement was in q2....
why is the stock getting hammered?
Anyone know the revenues expected for 2013? seems like a high valuation
I would rather bring people on to start as consultants. If they add value ,bring them onto the team. Shrewd move by MIMV, Bring on a bunch of ex Yahoo guys, give some options and get there knowledge!!!
NICE MOVE MIMV
14s are here... DO I HEAR 15s???
BORING!!! same posts different day up 18% in 4 trading days!
DO I HEAR 14s ON THE WAY???
here come the 13's!! LOL
up 17% in 24 hours... :) :)
I bought @ 11c
IMO ...MIMV will be 20c by June. giving me an 80% return from here!
LONG AND STRONG!!!!!!!
so you think this hits 05c before 16c??? HAHA
thank you ...thank you... thank you
i got to buy @ 11c. AMAZIMG
Durand.. no offense but that is EXACTLY what they dont want to do!! they are trying to get by on very small fundings till revenue kicks in. A 5 mill dollar deal would be MASSIVELY dilutive
236T568 what did you think?
so far it sounds great!
any bets on the reverse split??? I am in!! NO REVERSE SPLIT!!
WHAT NEWS? it seems to me they are giving us a sneak preview of what the future holds. Cant wait!
I agree
I am SURE this will be the beginning of the next rise in MIMV stock
good to see no sellers in this bear market!
ditto
Prediction..hits 25c before 15c
IN 90 days will this stock be closer to 30c or 10c?? I say 30c... I am a buyer
43c. looking good!
buying @ 16c
looking good! looks like we caught some bids!
exciting day for us Rimrock!
I am excited. this has been a POS forever! Now we have what looks like 3 gold properties and cash.