LA JOLLA, Calif., April 1, 2014 (GLOBE NEWSWIRE) -- Tonogold Resources Inc. (OTC:TNGL) (the "Company") is pleased to announce that it has retained EAS Advisors LLC ("EAS"); a financial advisory firm specialized in consulting and financing public companies in the commodity and mining space.
EAS will provide the Company with a variety of equity capital market and consulting services, and will, acting through Merriman Capital, Inc., assist the Company in its capital raising previously announced in order to secure an ultimate controlling interest in a producing Iron Ore project located 40kms north of Hermosillo, Sonora, Mexico. EAS will also assist the Company with general corporate issues.
About EAS Advisors LLC www.easadvisors.com
EAS Advisors, LLC is a New York based, boutique investment advisory firm that provides a unique services to companies operating in the natural resource and commodity sectors. The foundation of EAS's business is built on knowledge, capital markets insight and access to a deep pool of both traditional and non-traditional sources of capital. EAS's range of services include: equity and debt sourcing, management recruitment, IPOs & secondary offerings, financial markets advisory, mergers acquisitions, corporate structuring and start-up/seed funding, capital raises and debt financing.
EAS Advisors was founded in 2008 and, since inception, has participated in over $3.5 billion of successful transactions. EAS's reach spans the globe and their expertise has provided support and capital for several of the world's leading natural resource companies.
Edward A. Sugar, Principal of EAS Advisors, stated: "We are very pleased and excited to be working with Tonogold and assisting the Company in executing its business plan. We look forward to working with Tonogold and its management team on a long-term basis and believe the Company is in an excellent position to capitalize on the current opportunities in the iron ore market."
About Tonogold
Tonogold is a resource-focused OTC traded entity with gold and silver assets in Nevada. Following the appointment of experienced mining executive, Mark Ashley, as CEO in June 2013, Tonogold has been assessing numerous projects, focusing on those that provide the criteria necessary to establish a new foundation and platform to meet the significant growth aspirations of Tonogold. In October 2013, Tonogold secured, through a series of options, the right to take a controlling (51%) interest in a producing iron ore project in Northern Mexico, which has the potential to develop and grow into becoming a substantial iron ore producer in the medium term. The initial option has recently been extended and expires on April 28, 2014.
Tonogold's CEO Mark Ashley said "Having the backing and support of EAS is a significant endorsement of our strategy and a major advancement in our objectives of becoming a major mining entity. The importance of the experience, reputation and credibility of EAS, particularly in the mining space, cannot be understated and I am looking forward to working with EAS and its management in the future."
Safe Harbor Statement
This press release contains certain forward-looking information about Tonogold Resources, Inc. ("Tonogold") which is intended to be covered by the safe harbor for "forward-looking statements" provided by the Private Securities Litigation Reform Act of 1995. Forward-looking statements are statements that are not historical facts. Words such as "expect(s)," "feel(s)," "believe(s)," "will," "may," "anticipate(s)," and similar expressions are intended to identify forward-looking statements. These statements include, but are not limited to, financial projections and estimates and their underlying assumptions; statements regarding plans, objectives and expectations with respect to future operations, products and services; and statements regarding future performance. Such statements are subject to certain risks and uncertainties, many of which are difficult to predict and generally beyond the control of Tonogold Resources, Inc. that could cause actual results to differ materially from those expressed in, or implied or projected by, the forward-looking information and statements. These risks and uncertainties include: our lack of operating revenue and earnings history, our need for additional capital to pursue our business strategy, some of our managers lack formal training in the mining business, the grade and quantity of minerals in our projects may not be economic, we do not have fee title to our properties, but derive our rights through leases and the Mining Law, changes to the Mining Law may increase the cost of doing business, we are a non-reporting company and as such do not make periodic filings with the Securities and Exchange Commission, we trade on the Pink Sheets and there can be no assurances that a liquid market will develop in our securities, mining is subject to extensive environmental regulations and can create substantial environmental liabilities, gold, silver and other metals are commodities which have substantial price fluctuations, a drop in prices could adversely affect future profitability and capital raising efforts, and mining can be dangerous and present operational hazards for employees and contractors. Readers are cautioned not to place undue reliance on these forward-looking statements. Tonogold does not undertake any obligation to republish revised forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.