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Pacific Gold Corp. - Update
TORONTO, April 24, 2009 - Pacific Gold Corp. (OTCBB: PCFG) announced today that it has entered into an extension agreement with Yorkville Advisors regarding the convertible notes that were due on April 20th, 2009.
The extension agreement calls for the Maturity date of the notes to be extended to June 20th, 2009.
As of April 23rd, the principal balance on the notes has been paid off and the remaining amount of interest is $232,483. The interest is convertible into shares of the Company at the closing price (with no discount) from the day prior to the remaining installment dates, which are the 1st and 15th of May and the 1st and 15th of June.
The Company is investigating financing opportunities in order to restart production at the Black Rock Canyon mine and in order to complete the 2008 audit and 10-K annual report.
To find out more about Pacific Gold Corp. (OTCBB: PCFG), visit the Company's website at www.pacificgoldcorp.com. Or contact the Company directly at 416-214-1483.
About the Company
Pacific Gold Corp.'s business plan provides for the acquisition and development of production-ready and in-production mining operations. The company is focused on alluvial gold and base metals operations located in western North America. Pacific Gold Corp. owns five operating subsidiaries: Nevada Rae Gold, Inc. ("Nevada Rae") owns and operates the Black Rock Canyon gold mine, located in north-central Nevada; Pilot Mountain Resources Inc. ("Pilot Mountain") owns Project W, a large tungsten based deposit in Nevada; Fernley Gold, Inc. ("Fernley Gold") acquired exclusive lease rights to mine the Lower Olinghouse Placers in north-western Nevada; Oregon Gold, Inc. ("Oregon Gold") owns the Bear Bench claims and Defiance mine, located in south-western Oregon; and Pacific Metals Corp. ("Pacific Metals") owns claims in San Juan and Delores Counties, Colorado, encompassing the historic Graysill Mine.
This news release includes forward-looking statements that reflect Pacific Gold Corp.'s current expectations about its future results, performance, prospects and opportunities. Pacific Gold Corp. has tried to identify these forward-looking statements by using words and phrases such as "may", "will", "expects", "anticipates", "believes", "intends", "estimates", "should", "typical", "we are confident" or similar expressions. These forward- looking statements are based on information currently available to Pacific Gold Corp. and are subject to a number of risks, uncertainties and other factors that could cause the Company's actual results, performance, prospects of opportunities in the remainder of 2008 and beyond, to differ materially from those expressed in, or implied by, these forward-looking statements.