Update on the Acquisition of the Talapoosa, La Cecilia and La Gitana Mineral Properties
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 11/10/10 -- Christopher James Gold Corp. ('Christopher James' or the 'Company') (TSX VENTURE: CJG) announces that its shareholders approved the proposed acquisition (the 'Acquisition') by Christopher James of the interests of Chesapeake Gold Corp. ('Chesapeake') (TSX VENTURE: CKG) in its Talapoosa gold-silver project located in Lyon County, Nevada and the La Cecilia and La Gitana gold-silver projects located in Mexico (the 'Chesapeake Assets'). Chesapeake will also transfer $1,000,000 in cash and negotiable securities to Christopher James on closing of the Acquisition. In connection with the Acquisition, Christopher James will also undertake a share consolidation (the 'Share Consolidation') and name change (the 'Name Change'), both described in more detail below. In consideration for the Chesapeake Assets, Christopher James will issue to Chesapeake 31,977,899 post-consolidation common shares. Following the closing of the Acquisition, Dr. E. Max Baker will continue as the Company's President and P. Randy Reifel will act as Chairman.
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