December 30, 2019 – Denver, Colorado and Vancouver, British Columbia – Gold X Mining Corp. (TSX-V: GLDX, OTCQX: SSPXD) (“Gold X” or the “Company”) announces that the Company currently has in escrow US$20 million from the debenture offering announced on December 4, 2019, which funds are to be used to exercise the Company's option to purchase the Toroparu property (the "Option"). The funds will be released from escrow upon satisfaction of all required closing conditions.
The Company and Mr. Alfro Alphonso (“Mr. Alphonso”) have mutually agreed to a closing date of January 30, 2020 for the exercise of the Option which will result in Gold X owning 100% of its flagship Toroparu asset.
Mr. Munson noted: “Reaching this significant milestone with the continuing support of our key financial partners reflects the strength of their collective view that this significant gold resource is poised to move toward development and construction. Gold X was Wheaton’s first early deposit transaction with a junior when the initial streaming contract was signed in 2013 and they have remained a strong and valuable partner since then. Frank Guistra and the Fiore Group first invested in 2015 and then the third member of the financial partnership team, Gran Colombia Gold, joined in 2018. Now with the recent addition of the Lithium X team of Paul Matysek, Brian Paes-Braga and Bassam Moubarak, Gold X has all the elements in place to make significant strides forward in 2020 and beyond.”
On behalf of the Board of Directors of Gold X Mining Corp.
“Richard A. Munson” Director and Chief Executive Officer
Visit Gold X’s website at www.goldxmining.com