The Shamrock zone on the Ketza River property on Veris Gold's projects. — Photo courtesy Veris Gold Veris Gold Corp. announced today that it has obta
The Shamrock zone on the Ketza River property on Veris Gold's projects. — Photo courtesy Veris Gold
Veris Gold Corp. announced today that it has obtained an order from the Supreme Court of British Columbia (the "Court") as of February 2, 2015 extending the period of the Court-ordered stay of proceeding against Veris and its subsidiaries under the Companies' Creditors Arrangement Act ("CCAA") up to and including February 23, 2015.
The sales process deadline for a potential bidder to deliver a qualified bid, as defined in the Sales and Solicitations Procedures (“SSP”) included in the Sales Process Order and subsequently extended, was January 30, 2015. The Company is currently reviewing the results of the SSP in conjunction with Deutsche Bank AG and the Debtor-in-Possession Lender, Whitebox Advisors LLC. The Monitor will provide a further update on these results in its next report to the Court.
The Company has been operating under the protection of the CCAA and the U.S. Bankruptcy Code since June 9, 2014.
All inquiries regarding Veris' CCAA proceedings should be directed to the Monitor, Ernst & Young, Inc.: Mr. Rocky Ho at (604) 891-8425. Information about the CCAA proceedings, including copies of all court orders and the Monitor's reports, is available on the Monitor's website.
About Veris Gold Corp.
Veris Gold Corp. is a growing mid-tier North American gold producer in the business of developing and operating gold mines in geo-politically stable jurisdictions. The Company's primary assets are the permitted and operating Jerritt Canyon processing plant and gold mines located 50 miles north of Elko, Nevada, USA. The Company's primary focus is on the re-development of the Jerritt Canyon mining and processing plant. The Company also holds a portfolio of precious metals properties in British Columbia and the Yukon Territory, Canada, including the Ketza River Property.
