Pediment and Argonaut Announce New Meeting Dates
16 Diciembre 2010 - 8:00AM
Marketwired
Argonaut Gold Inc. (TSX: AR) ("Argonaut") and Pediment Gold Corp.
(TSX: PEZ)(OTCBB: PEZGF) ("Pediment") announce that, further to
their November 22, 2010 announcement of the extension of the
deadline for the completion of their business combination
transaction from December 23, 2010 to January 31, 2011, the
meetings of Argonaut and Pediment shareholders to approve the
transaction have now been rescheduled to take place on January 24,
2011. The extension of the completion deadline was implemented to
allow Pediment and Argonaut time to investigate proposed amendments
to the local environmental laws in the State of Baja California
Sur, Mexico the ("BCS") which, if implemented, could adversely
affect Pediment's ability to secure a building licence for the
development of its San Antonio Project as currently envisioned.
Based on the information received to date, the parties
understand that the legislation, as originally proposed, has not
been approved by the Governor and the Governor has stated publicly
that it will not be approved in its current form. The current
sitting of the BCS legislature has now ended. The legislature is
not expected to resume sitting until March 2011, at which time new
members and a new Governor will be sworn in following elections.
There can be no certainty with respect to future legislative
action, however, Pediment and Argonaut have held meetings with a
variety of local stakeholders and legislators and believe there is
broad opposition to the proposed legislation and support for the
San Antonio Project.
Forward Looking Information
This news release contains forward looking statements of
Argonaut and Pediment, within the meaning of the U.S. Private
Securities Litigation Reform Act of 1995 and within the meaning of
applicable Canadian provincial securities legislation.
Forward-looking statements are statements which are not historical
facts, including, without limitation, statements regarding the
proposed acquisition of Pediment by Argonaut, the proposed
amendments to the laws affecting mining projects in Mexico and the
likely impact of those proposed amendments on Pediment's business
and prospects. There can be no assurance that such statements will
prove accurate. Such statements are necessarily based upon a number
of assumptions that are subject to numerous risks and uncertainties
that could cause actual results and future events to differ
materially from those anticipated or projected. Important factors
that could cause actual results to differ materially from
Argonaut's or Pediment's expectation are in the documents filed by
Argonaut and Pediment, respectively, from time to time with the
Toronto Stock Exchange and provincial securities regulators, most
of which are available at www.sedar.com. Other than as required by
applicable securities legislation, Argonaut and Pediment disclaim
any intention and assumes no obligation to revise or update any
forward-looking statement even if new information becomes
available, as a result of future events or for any other
reason.
The Toronto Stock Exchange has not reviewed or accepted
responsibility for the adequacy or accuracy of this news
release.
Contacts: Pediment Gold Corp. Gary Freeman 604-682-4418 Pediment
Gold Corp. Michael Rapsch 604-682-4418 www.pedimentgold.com
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