Gitennes Exploration Inc. announces private placement
Vancouver, BEFORE CHRIST – The press wire – October 26, 2021 – Gitennes Exploration inc. (“Gitennes“or the”Society“) (TSXV: GIT) (OTC:GILXF) announcement that it carries out a private placement without intermediary (the “Placement”) of a maximum of 7,500,000 units (composed of 3,000,000 non-flow-through units (“units”) at a price of $ 0.05 per unit and 4,500,000 flow-through shares (“FT share”) at a price of $ 0.06 FT action). Each unit consists of one non-flow-through common share and one common share purchase warrant (the “Warrant”). Each warrant may be exercised to acquire one common share (a “warrant share”) at an exercise price per warrant share of $ 0.10 for a period of 24 months following the closing date. . Finder’s fees of 8% in cash and 8% in warrants may be paid on the financing.
All securities issued in connection with the offering are subject to a four month and one day hold period in Canada. The offering is subject to certain conditions, including, but not limited to, receipt of all necessary approvals, including the approval of the TSX Venture Exchange and any applicable securities regulatory authority.
About Exploration Gitennes inc.
Gitennes is dedicated to the exploration and advancement of mineral properties with an emphasis on high grades or large tonnage gold deposits. The Company currently owns four gold properties in Quebec: JMW, Maxwell, New Mosher and Gaspe, the Snowbird gold property in British Columbia and a 1.5% net smelter return royalty on the Urumalqui Silver project of 18 million dollars. ounces in Peru. JMW, Maxwell and Gaspé are 100% owned by Gitennes. New Mosher is under option and Gitennes can earn a first 70% and has the right to increase its stake to 85%. The Snowbird property has been optioned to a gold exploration company.
Gitennes Exploration Inc.
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Caution regarding forward-looking information
This press release contains certain statements that constitute “forward-looking information” within the meaning of applicable Canadian securities laws and United States securities laws, including the United States Private Securities Litigation Reform Act of 1995. All statements , other than statements of historical fact, are included herein, including, without limitation, statements regarding the intended use of the proceeds of the offering, the expectations of the Company which will be successful in implementing its plans to business, and future business, operations and financial performance and condition of the Company, are looking forward- looking statements. Although the Company believes these statements to be reasonable, it cannot guarantee that these expectations will prove to be correct. Often, but not always, forward-looking statements can be identified by words such as “will”, “pro forma”, “plans”, “expects”, “may”, “should”, “budget”, ” programs “, estimates”, “plans”, “intends”, “anticipates”, “believes”, “potential” or variations of these words, including negative variations thereof and phrases referring to to certain actions, events or results that may, could, would, could In making the forward-looking statements in this press release, the Company has applied several important assumptions, including, without limitation, receipt of all regulatory approvals necessary in connection with the Placement, that it will be in the interest of investors for future financing, that the global COVID-19 pandemic will not affect the Company’s ability to carry out its planned business plans , market fundamentals will drive demand and sustained precious metal prices, receipt of all necessary permits, licenses and settlement approvals relating to the future exploration and development of the Company’s projects in a timely manner, the availability of financing on appropriate terms for the exploration and development of the Company’s projects and the Company’s ability to comply with environmental, health and safety laws.
The Company cautions investors that the Company’s forward-looking statements are not guarantees of future results or performance, and that actual results could differ from those projected in the forward-looking statements due to many factors, including risks and uncertainties associated with exploration and development. and the actual results of exploration activities; the Company’s ability to obtain additional financing; delays in obtaining government and regulatory approvals (including approval of the Offering by the TSX Venture Exchange), permits or financing; the fact that the interests of the Company in some of its mining properties are only options and that there is no guarantee that the interest, if earned, will be certain; risks associated with epidemics or pandemics such as COVID-19, including the impact of COVID-19 on the Company’s business, financial condition and results of operations; the need to comply with environmental and government regulations; potential defects in title to the Company’s properties; changes in general economic conditions; fluctuations in the prices of raw materials and precious metals; operational hazards and risks; environmental issues and responsibilities; risks associated with joint venture operations; and competition and other risks and uncertainties in the mining industry. Readers should take into consideration all of the information contained herein and should examine the periodic reports of the Company filed from time to time with the Canadian securities regulatory authorities. These reports and the documents filed by the Company are available on the Company’s SEDAR profile at www.sedar.com.
Readers are cautioned not to place undue reliance on forward-looking statements. The forward-looking statements contained in this press release are made as of the date of this press release and, except as otherwise required by law, the Company assumes no obligation to update any forward-looking statements contained in this document, or to update the reasons for actual resolutionResults could differ from those projected in these forward-looking statements.