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Last C$0.0050 CAD
Change Today 0.00 / 0.00%
Volume 0.0
TOM On Other Exchanges
Symbol
Exchange
Venture
As of 5:00 PM 07/16/14 All times are local (Market data is delayed by at least 15 minutes).

tolima gold inc (TOM) Snapshot

Open
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Previous Close
C$0.0050
Day High
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Day Low
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52 Week High
09/19/14 - C$0.05
52 Week Low
12/9/14 - C$0.0050
Market Cap
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Average Volume 10 Days
0.0
EPS TTM
C$-0.07
Shares Outstanding
140.0M
EX-Date
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P/E TM
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Dividend
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Dividend Yield
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Current Stock Chart for TOLIMA GOLD INC (TOM)

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tolima gold inc (TOM) Details

Tolima Gold Inc., a gold exploration and development company, acquires, explores, and develops mineral properties in Canada. It primarily explores for gold properties in Colombia. The company is based in Toronto, Canada.

tolima gold inc (TOM) Top Compensated Officers

Chief Executive Officer, President, Chief Ope...
Total Annual Compensation: C$210.0K
Chief Financial Officer and Secretary
Total Annual Compensation: C$150.0K
Compensation as of Fiscal Year 2014.

tolima gold inc (TOM) Key Developments

Tolima Gold Inc., Annual General Meeting, Jan 29, 2015

Tolima Gold Inc., Annual General Meeting, Jan 29, 2015., at 10:00 US Eastern Standard Time. Location: Wildeboer Dellelce LLP, Suite 800. Agenda: To elect directors to hold office until the next annual meeting; to receive and consider the financial statements of the company for the financial year ended July 31, 2014, and the auditors' report thereon; to appoint MNP LLP as auditors of the company for the ensuing financial year and to authorize the directors to fix the auditors' remuneration; to consider and, if thought appropriate, to pass, with or without variation, a resolution re-approving and confirming the stock option plan of the company including the reservation for issuance under the option plan at any time of a maximum of 10% of the issued and outstanding common shares of the company; and to transact such further and other business as may properly come before the Meeting or any adjournment thereof.

Tolima Gold Inc. Auditor Raises 'Going Concern' Doubt

Tolima Gold Inc. filed its Annual on Nov 28, 2014 for the period ending Jul 31, 2014. In this report its auditor, Meyers Norris Penny LLP - MNP LLP, gave an unqualified opinion expressing doubt that the company can continue as a going concern.

Solvista Gold Announces Expansion of IAMGOLD Agreement

Solvista Gold Corporation (Solvista or the Company) announced certain changes to its existing agreements with Tolima Gold Inc. (Tolima) and IAMGOLD Corporation (IAMGOLD) and the entering into of a new arrangement with Tolima regarding certain properties (the Properties) located in the Departments of Caldas and Antioquia in Colombia originally optioned by Solvista from Tolima in 2012. The Properties are located adjacent to the company's Caramanta Project which is currently covered by the $36 million option agreement between IAMGOLD and Solvista (the IAMGOLD Agreement). The existing option agreement between Tolima and Solvista contemplated the Company acquiring an initial 50% interest in the Properties and included certain other rights and obligations that would allow Solvista to earn up to a 100% interest in the Properties. Solvista and Tolima have now agreed to enter into a new arrangement regarding the Properties under which Solvista and Tolima will jointly control the Properties through an equal ownership stake in a newly incorporated Colombian entity (Newco), and form a joint venture (Joint Venture) in respect of the Properties. Newco will then contribute the Properties and become a party to the IAMGOLD Agreement. IAMGOLD will then operate the Properties, along with the Caramanta Project, in accordance with the terms and conditions of the IAMGOLD Agreement. The Joint Venture will be inactive until and if at such time as right, title and interest in any concession comprising the Properties is abandoned by IAMGOLD and transferred back to Newco in accordance with the terms of the IAMGOLD Agreement. In consideration for entering into the new arrangement with Tolima, the company will issue 400,000 shares in its capital stock (Solvista Shares) and a cash payment of $25,000 to Tolima. Pursuant to the existing option agreement the Company will also concurrently issue an additional 600,000 Solvista Shares to Tolima. These Solvista Shares are in addition to the 2,400,000 Solvista Shares already issued to Tolima pursuant to the terms of the existing option agreement. None of the other outstanding rights or obligations of either Solvista or Tolima under their original option agreement will apply under the terms of the new arrangement and the original option agreement will be terminated upon the effective transfer of the Properties to Newco. The proposed arrangement is subject to the approval of the TSX Venture Exchange. With the vending in of the Properties the amended IAMGOLD Agreement will provide IAMGOLD with the option to earn up to a 70% interest in the Company's Caramanta Project and the Properties upon the completion of $40 million of qualifying expenditures, an 11% increase from the current earn-in obligations, that includes cash payments to the company and Newo, amongst other conditions. IAMGOLD will be able to earn an initial 51% in the company's Caramanta Project and the Properties by investing a total of $20,000,000 in qualifying expenditures, which will include $900,000 and $100,000 in cash payments to Solvista and Newco, respectively, over a maximum five year period that commenced December 16, 2013. IAMGOLD will be able to earn an additional 19% interest in the Caramanta Project and the Properties, for a total 70% interest, by investing a further $20,000,000 in qualifying expenditures over a maximum three year period following the completion of the initial 51% earn-in. Subject to the satisfaction of the aforementioned conditions, and upon completion of IAMGOLD's 51% or 70% earn-in, as IAMGOLD may elect, Solvista, Newco and IAMGOLD would enter into a joint venture to hold and advance the Caramanta Project and the Properties.

 

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