Highvista Gold Inc. Announces Proposed Share Consolidation and Update on Status of Secured Promissory Note

Highvista Gold Inc. Announces Proposed Share Consolidation and Update on Status of Secured Promissory Note
  
 

TORONTO, ONTARIO--(Marketwired - Apr 28, 2014) - Highvista Gold Inc. (TSX-VENTURE:HVV) ("Highvista" or the "Company") announces that it has called a special meeting of shareholders of the Company to consider, and if advisable, to pass a resolution authorizing the board of directors of the Company to implement a share consolidation on the basis of one (1) new share for each ten (10) common shares currently issued or authorized.

The shareholder meeting is scheduled to be held on Wednesday, June 11, 2014 in Toronto. On or about May 15, 2014, the Company intends on mailing a management information circular discussing the business for the meeting to the shareholders of the Company as of May 5, 2014, the record date for the meeting. The Company will also post the circular on SEDAR promptly after mailing.

The proposed consolidation is subject to regulatory approval, including approval of the TSX Venture Exchange, and the board of directors will retain discretion on whether or not to pursue the transaction if shareholder approval is obtained.

In addition, the Company is pleased to provide an update on the status of its secured promissory note with Norvista that is currently in default. Norvista has agreed to forebear any of its rights under the note until June 30, 2014.

About Highvista

Highvista owns 100% of a Mexican subsidiary that controls the 24,055 hectare Canasta Dorada Gold Project. This project is located in the Sonoran Gold Belt immediately adjacent to AuRico Gold's El Chanate Mine. Details of Highvista's Canasta Dorada Project can be viewed at the Company's website at www.highvistagold.com.

Reader Advisory

Certain statements in this press release constitute "forward-looking statements". These forward-looking statements include, but are not limited to, statements regarding the date of the special meeting of shareholders of the Company and mailing and posting to SEDAR of the related management information circular as well as the board of directors' decision whether to complete the proposed transaction described herein. Forward-looking statements express, as at the date of this press release, the Company's plans, estimates, forecasts, projections, expectations, or beliefs as to future events or results. Forward-looking statements are based on certain assumptions, including the key assumptions and parameters on which such estimates are based, involve risks and uncertainties and there can be no assurance that such statements will prove to be accurate. Therefore, actual results and future events could differ materially from those anticipated in such statements. Factors that could cause results or events to differ materially from current expectations expressed or implied by the forward-looking statements, include, but are not limited to, any rescheduling or adjournment of the shareholder meeting and receipt of regulatory and shareholder approvals for the proposed transaction. Readers are cautioned not to place undue reliance on the forward-looking statements contained in this press release. Except as required by law, Highvista assumes no obligation to update or revise any forward-looking statement, whether as a result of new information, future events or any other reason.

NEITHER THE TSX-VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX-VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS PRESS RELEASE.

Highvista Gold Inc.Richard AdamsPresident and CEO(416) 504-3588(416) 504-4129