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CB Gold Buys La Vereda, La Triada de Oro Properties; Shares Fall 12%

CB Gold Inc. (CBJ.V) today announced that it has entered into agreements to acquire the La Vereda and La Triada de Oro properties for a combination of company shares and cash.

The company said it will acquire 100% ownership of La Triada and 80% ownership of La Vereda with the right to acquire the additional 20% within three years from the closing of the transaction. And upon completion of the acquisitions, the company said it will own 11 properties in the Vetas Mining District.

CBJ shares have now dropped 12% to $1.16 from yesterday's $1.32 close, and are trading near the lower end of a $1.11 to $1.35 range.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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