1 September 2015
www.intgold.com.au
Company Announcements Office Australian Securities Exchange Level 6, 20 Bridge Street
SYDNEY NSW 2000
Via E Lodgement
Corporate Update
The Board of International Goldfields Limited ("IGS" or "the Company") (ASX: IGS) is pleased to provide an update on the status of its transaction with Jardin de Invierno SA, trading as Winter Garden Biosciences ("Winter Garden" or "WG").
WG is an emerging agriculture bioscience and biotechnology company in which IGS
has agreed to acquire an 85% interest (refer ASX announcement dated 1 May 2015).
On 13 August 2015 IGS announced that it had successfully completed due diligence on Winter Garden and its associated assets. Since that time the company has been finalising the Share Sale agreements and other regulatory filings associated with this transaction.
The Company advises the SFEG chapter 11 filing (referenced below) has no effect on the status of the WG transaction and it expects to execute binding agreements with Winter Garden in the coming seven (7) days), with a Notice of Meeting to be finalised and sent to the ASX for review soon after.
The Board of International Goldfields Limited advises that on 26 August 2015, Santa Fe Gold Corporation ("Santa Fe" or "SFEG") and three affiliates filed voluntary chapter 11 cases pursuant to the United States Bankruptcy Code in the United States Bankruptcy Court for the District of Delaware. In its chapter 11 filings, Santa Fe has indicated, among other things, that it intends to conduct a process to sell substantially all of the debtors' assets and, to facilitate a sale process, has entered into a debtor-in-possession loan facility with Waterton Global Value, L.P. ("Waterton") and a stalking horse purchase agreement with Waterton under which Waterton proposes to purchase the debtors' assets. The loan facility and sale process are subject to the approval of the bankruptcy court.
The Company understands that a committee of unsecured creditors of Santa Fe will be formed to represent the interests of unsecured creditors in the chapter 11 cases. The Company intends to request that it become a member of the creditors committee. If appointed to the committee, the Company intends to work with the other members of the committee to maximize the recovery to unsecured creditors and to achieve an outcome that is in the best interests of the creditors.
IGS has 9,259,259 shares in Santa Fe and Convertible Notes worth a combined US$4 million plus accrued interest expiring in October 2015.
Michael Edwards
Chairman
David Tasker
Director
Travis Schwertfeger
Director
COMPANY SECRETARYJane Flegg
REGISTERED OFFICE AND PRINCIPLE PLACE OF BUSINESSGround Floor, 1 Havelock Street
WEST PERTH WA 6005
PO Box 684
WEST PERTH WA 6872
COMMUNICATION DETAILSTelephone: +61 8 9488 5220
Facsimile: +61 8 9324 2400
Web Address: www.intgold.com.au Email Address: info@intgold.com.au
AUSTRALIAN BUSINESS NUMBER69 099 544 680
SHARE REGISTRYAdvanced Share
Registry Services Pty Ltd
150 Stirling Hwy
Nedlands WA 6009
ASX CODEIGS
www.intgold.com.au
For and on behalf of the board
International Goldfields
T: +61 8 9488 5220 E: info@intgold.com.au
Professional Public Relations
Tony Dawe
About Winter Garden Bioscience
Winter Garden Bioscience is an advanced developer of mass market non-synthetic cannabis products, and is focused on the production of cannabis extracts, derivatives, delivery systems and related intellectual property for sale into the rapidly growing international marketplace for therapeutic medicinal cannabis products.
Winter Garden Bioscience is fully licensed to export cannabinoid products, including its high-potency CBD extracts. The Company plans to primarily target wholesale distribution partners which have developed CBD based product lines in the United States, Canada and Europe. This includes pharmaceutical and nutraceutical companies, in addition to companies focused on the marijuana marketplace. Winter Garden will also look at making its products
available to retail consumers in North America and Europe which will supplement its wholesale revenues.
www.intgold.com.au
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