VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 1, 2011) - Timmins Gold Corp. (TSX:TMM) today announced that despite continued support from Capital Gold's shareholders for a merger with Timmins Gold, the acquisition of Capital Gold by Gammon appears to have been approved by the narrowest margin.
Bruce Bragagnolo, CEO of Timmins Gold, commented: "Almost all of Capital Gold's fundamental institutional investors, as well as a large retail contingent, continuously supported our merger proposal. We are very grateful for their commitment to Timmins Gold and thank these fundamental investors for their support. We have no regrets and look forward to continuing to grow Timmins Gold and building value for our shareholders."
"Timmins Gold also thanks Steve Isenberg and Chris Dingle of M Partners, and Adam Givertz and Christian Kurtz of Shearman and Sterling, LLP for their guidance and hard work throughout this process."
This press release contains forward-looking statements. Forward-looking statements are statements which relate to future events and are predictions that involve known and unknown risks, uncertainties and other factors. While forward-looking statements, and any assumptions upon which they are based, reflect current judgment regarding the direction of Timmins Gold's business, actual results will almost always vary, sometimes materially. Except as required by applicable law, Timmins Gold does not intend to update any forward-looking statements.
About Timmins Gold
Focused in Mexico, Timmins Gold Corp. became a gold producer in April 2010 with the commencement of commercial production at its wholly owned San Francisco Mine in Sonora, Mexico. In addition, the Company has an extensive portfolio of gold projects in Mexico.