Canyon Gold Corp. Diversifies
22 Maio 2014 - 7:16PM
Canyon Gold Corp. (OTCQB:CGCCD) (The Company) is pleased to
announce the acquisition of 100% of the issued and outstanding
shares of MARSHALL THOMSEN LTD., a British Columbia corporation
entering the cannabis industry as a producer of cannabis products
for distribution to the medical community.
CanyonGold on May 21, 2014 executed a Definitive Agreement with
Marshall Thomsen acquiring 100% of its issued and outstanding
shares whereby Marshall Thomsen becomes a wholly owned subsidiary
of CanyonGold.
CanyonGold, to provide increased value to its shareholders,
acquired Marshall Thomsen to enter the lucrative Cannabis Industry
and be part of a promising future world trend.
"Joining the Team of CanyonGold provides the opportunity to
build and operate a superior production center for cannabis with a
view to a very bright future for the Company and value to its
shareholders," says Tom Thomsen, President of the newly acquired
subsidiary.
Marshall Thomsen applied to Health Canada for a license as a
commercial grower of cannabis under the new regulations issued by
Health Canada. We are pleased to confirm that the subsidiary has
acquired the right to a 20 acre property in the Fraser Valley of
British Columbia where it plans to build a facility of, initially,
90,000 square feet, allowing for future expansion on the site. The
initial facility will be capable of producing up to 6 million grams
of cannabis per year.
The New System under Canada Health:
In the new system, licensed producers are able to grow an
unlimited amount of product. They must sell the product to patients
through an e-commerce website and ship directly to either the
patient's place of residence, or doctor's office. The entire
process, from seed to sale, must be documented and managed by the
licensed vendor. The product must meet stringent quality assurance
tests before it can be sold, and if the product does not pass the
testing it must be destroyed. Proof of destruction must be provided
if requested by Health Canada and strong records must be kept.
There are also strict regulations as to where operations can be
located, and all employees and members of the management team must
complete security clearance checks.
CanyonGold's IR Group.
The Company, to complement its diversification, has engaged the
services of North Arm Capital of Point Roberts, WA to provide
investor relations and shareholder communications services.
Business Development Director Ron Hughes comments: "We are very
excited to be joining CanyonGold in its new venture, and look
forward to providing quality communication services in this
emerging industry."
Change at the Helm:
With consideration to the new direction taken and the future
separation of the present subsidiary LCGRC, the Company appointed
Mr. Delbert Blewett of Solana Beach, CA to the position of
President and CEO. Mr. Stephen Studdert stepped down from his
position on the Board of Directors and chairman of the Strategy
Committee of CanyonGold and accepted the position of President of
the wholly-owned gold subsidiary Long Canyon Gold Resources Corp.
We thank Mr. Studdert for his services on the Board of Directors of
Canyon Gold and are pleased to appoint Mr. Studdert to the Board of
the gold subsidiary. Under the guidance of Mr. Studdert the gold
subsidiary will continue with its expansion and development
plans.
CanyonGold's Subsidiaries.
MARSHALL THOMSEN (a wholly owned
subsidiary).
CanyonGold, through its subsidiary, is entering the commercial
production industry of cannabis, a renewable resource. The
subsidiary has acquired the right to a 20-acre property to build
and establish a production center in the Fraser Valley of British
Columbia. The application for the license has been submitted to
Health Canada. The planned new center provides for potential
production of 6 million grams of cannabis in the first full year of
operation.
Long Canyon Gold Resources Corp. 'LCGCR' (a
wholly owned subsidiary) owns and or controls through certain
options a 100% interest in 310 mineral lease claims in the Spruce
Ridge Area of Nevada and in addition it controls a 100% interest in
180 mineral lease claims in the Pequop Mountains of the Long Canyon
Trend Area of Nevada. It is the company's intention to explore its
claims for the same type of target, a large tonnage gold deposit
similar to the West Pequop Mountains Long Canyon type of Carlin
Type gold deposit.
The Company continues to seek funding for its Gold
Subsidiary to implement its planned Phase Two exploration program
on its Mineral Claims in Elko County of Nevada.
Visit us at:
www.canyongoldexploration.com with a link to
www.marshallthomsen.com
On behalf of the Board of Directors, Delbert Blewett, President
& CEO
The Company trades on the OTC-BB/QB tier of the OTC market.
Investors can find Real-time quotes and market Information for the
Company on
http://www.otcmarkets.com/stock/CGCC/quote
Forward-Looking Statements
This news release includes certain "forward-looking statements".
All statements other than statements of historical fact, included
in this release, including, without limitation, statements
regarding potential mineralization and reserves, exploration
results, and future plans and objectives or expected results of the
Company, are forward-looking statements that involve various risks
and uncertainties. Forward looking statements in this news release
include that we will carry out an exploration program and exercise
our option to lease additional claims. There can be no assurance
that such statements will prove to be accurate and actual outcomes
and results could materially differ from what is expressed,
implied, or forecasted in forward-looking statements. Factors which
may delay or prevent these forward-looking statements from being
realized include misinterpretation of data; we may not be able to
get equipment or labor as we need it; we with may not be able to
raise sufficient funds to complete our intended exploration or
carry on operations; that weather, logistical problems or hazards
may prevent us from exploration; that equipment may not work as
well as expected; that analysis of data may not be possible
accurately and at depth; and that despite encouraging data there
may be no commercially exploitable mineralization on our
properties. Readers should refer to the risk disclosures outlined
in the Company's most recent reports filed with the Securities and
Exchange Commission.
CONTACT: Company Contact:
Subsidiary: Long Canyon Gold Res. Corp.
1 800 520-9485
Delbert Blewett, President
Subsidiary: Marshall Thomsen
1 877 945-1621
Tom Thomsen, President
Email: cgcc@canyongoldexploration.com
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