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BRIEF-PGB Timmins Delivers Default Notice To Gowest Gold & Terminates Pre-Paid Forward Gold Purchase Agreement

Published 2019-08-09, 12:44 p/m
© Reuters.  BRIEF-PGB Timmins Delivers Default Notice To Gowest Gold & Terminates Pre-Paid Forward Gold Purchase Agreement

Aug 9 (Reuters) - Gowest Gold Ltd GWA.V :

* PGB TIMMINS HOLDINGS DELIVERS DEFAULT NOTICE AND TERMINATES PRE-PAID FORWARD GOLD PURCHASE AGREEMENT

* GOWEST GOLD - PGB TIMMINS HOLDINGS HAS DELIVERED TO CO A NOTICE OF EVENTS OF DEFAULT AND TERMINATION AND A NOTICE OF INTENTION TO ENFORCE SECURITY

* GOWEST GOLD - PGB ALLEGES CERTAIN DEFAULTS BY CO OF ITS OBLIGATIONS UNDER DECEMBER 16, 2016 DATED PRE-PAID FORWARD GOLD PURCHASE AGREEMENT

* GOWEST GOLD - PGB TERMINATED PRE-PAID FORWARD GOLD PURCHASE AGREEMENT & DEMANDED EARLY TERMINATION FEE UNDER AGREEMENT IN AMOUNT OF $25.5 MILLION

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