ELMGF - Element79 Gold Announces Draw Down on Equity Facility with Crescita
(TheNewswire)
Vancouver – TheNewswire –February 28, 2025 – Element79 Gold Corp. (CSE:ELEM) (OTC:ELMGF)(FSE:7YS) ("Element79 Gold", the "Company") a mining company focused on gold and silver,announces that it has recently leveraged its Crescita EquityInvestment Facility ("Crescita Capital"), details of theFacility Agreement can be found in out original announcement onFebruary 12, 2022. The Company has recently drawn CA$185,000 from thisnew facility.
The Company has further issued an aggregate total of10,062,500 shares to Crescita pursuant to the terms of the FacilityAgreement (the “Agreement”) , as well as a total of 13,002,465Share purchase Warrants (the “Warrants”) to Crescita per theterms of the Agreement, the Warrants are exercisable for a period offive years at an Price of $0.05 per share.
Proceeds from the above-mentioned draw from CrescitaCapital will be used for operations including legal fees. accountingaudits, annual project claim lease fees and the advancement of thesocial contract development in Peru to allow the Lucero work plan tounfold.
About Crescita Capital
Crescita Capital is an investment and consultancy groupthat provides alternative financing and corporate development servicesfor seed to growth-stage companies in emerging markets around theworld. www.Crescita.capital Between 2021 and 2023, the Company worked with Crescita,drawing $7,104,500 to support its operations and develop itsportfolio of mining assets.
For corporate matters, pleasecontact:
James C. Tworek, Chief Executive Officer
Email: jt@element79.gold
For investor relations inquiries,please contact:
Investor Relations Department
Phone: +1 (403)850.8050
Email: investors@element79.gold
Neither theCanadian Securities Exchange nor the Market Regulator (as that term isdefined in the policies of the Canadian Securities Exchange) acceptsresponsibility for the adequacy or accuracy of this release.
Certain statements in this NewsRelease, which are not historical in nature, constitute “forwardlooking statements” within the meaning of that phrase underapplicable Canadian securities law. These statements include, but arenot limited to, statements or information concerning future workprograms, results and timing of any work programs, the Company’sperformance or events as of the date hereof. These statements reflectmanagement’s current assumptions and expectations and by theirnature are subject to certain underlying assumptions, known andunknown risks and uncertainties and other factors which may causeactual results, performance or events to be materially different fromthose expressed or implied by such forward-looking statements. Thoserisks include the interpretation of drill results; the geology, gradeand continuity of mineral deposits; the possibility that futureexploration, development or mining results will not be consistent withour expectations; commodity and currency price fluctuation; failure toobtain adequate financing; regulatory, recovery rates, refinery costs,and other relevant conversion factors, permitting and licensing risks;general market and mining exploration risks and production andeconomic risks related to design and engineering, manufacturing,technological processes and test procedures and the risk that theproject’s output will not be salable at a price that will cover theproject’s operating and maintenance costs. Forward-lookingstatements should not be construed as investment advice. Readersshould conduct a detailed, independent investigation and analysis ofthe Company and are encouraged to seek independent professional advicebefore making any investment decision. Accordingly, readers should notplace undue reliance on any forward-looking statement. Except asrequired by applicable securities laws, the Company disclaims anyobligation to update or revise any forward-looking statements toreflect events or changes in circumstances that occur after the datehereof.
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