Welcome To The Midway Gold HUB On AGORACOM
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Message: Midway Gold Provides Corporate Update
Denver, Colorado (FSCwire) - Midway Gold Corp. (TSX and NYSE-MKT: MDW) (the “Company” or “Midway”) remains in active discussions with its Senior Lender regarding strategic partnerships, asset sale opportunities and debt refinancing opportunities. As previously disclosed, the terms of a waiver with regard to the Senior Debt have lapsed and the Company remains in discussions to obtain additional waivers. The Company’s Senior Lender has provided the Company with a notice alleging an event of default based on the non-monetary conditions which were previously waived. The notice does not invoke or demand any specific remedies but states that it reserves all rights. Midway believes the notice is intended to document the conditions as viewed by Senior Lender and, while there can be no assurances, we will continue working toward maximizing value for our stakeholders by pursuing our strategic alternatives.
Midway Gold Corp.
Jaime Wells, 720-979-0900
Neither the TSX Exchange, its Regulation Services Provider (as that term is defined in the policies of the TSX Exchange) nor the NYSE MKT accepts responsibility for the adequacy or accuracy of this release.
This press release contains forward-looking statements about the Company and its business. Forward looking statements are statements that are not historical facts and include, but are not limited to, statements about the Company's intended financing plans, ability to resolve alleged defaults with our Senior Lender, prospects that the Company may be able to replace the Senior Debt, strategies and prospects for strategic alternatives, Midway’s receipt of notices from Senior Lender, and other statements, estimates or expectations. Forward-looking statements are typically identified by words such as: “may”, “should”, “plan”, “believe”, “predict”, “expect”, “anticipate”, “intend”, “estimate”, postulate”, “target” and similar expressions or the negative of such expressions or which by their nature refer to future events. The forward-looking statements in this press release are subject to various risks, uncertainties and other factors that could cause the Company's actual results or achievements to differ materially from those expressed in or implied by forward looking statements. Other risks, uncertainties and factors include, without limitation, risks related to the timing and completion of the Company's intended work plans, potential delay of material deliveries, ability to meet debt covenants and obligations, risks related to fluctuations in gold prices; uncertainties related to raising financing in a timely manner and on acceptable terms; changes in planned work resulting from weather, logistical, technical or other factors; the possibility that results of work will not fulfill expectations and realize the perceived potential of the Company's properties; uncertainties involved in the interpretation of drilling results and other tests and the estimation of gold resources and reserves; the possibility that required permits may not be obtained on a timely manner or at all; the possibility that capital and operating costs may be higher than currently estimated and may preclude commercial development or render operations uneconomic; the possibility that the estimated recovery rates and production may not be achieved; risk of accidents, equipment breakdowns and labor disputes or other unanticipated difficulties or interruptions; the possibility of cost overruns or unanticipated expenses in the work program; changes in interest and currency exchanges rates; local and community impacts and issues; environmental costs and risks; and other factors identified in the Company's SEC filings and its filings with Canadian securities regulatory authorities. Forward-looking statements are based on the beliefs, opinions and expectations of the Company's management at the time they are made, and other than as required by applicable securities laws, the Company does not assume any obligation to update its forward-looking statements if those beliefs, opinions or expectations, or other circumstances, should change. Although the Company believes that such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to be correct. For the reasons set forth above, investors should not attribute undue certainty to or place undue reliance on forward looking statements.
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Source: Midway Gold Corp. (TSX:MDW, NYSE MKT:MDW) www.midwaygold.com
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