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home / news releases / GETT:CC - G.E.T.T. GOLD INC. Announces the Execution of an Amendment Agreement with Labyrinth Resources Limited Relating to Their Project Acquisition Agreement of August 30 2021 & Results of Annual Meeting


GETT:CC - G.E.T.T. GOLD INC. Announces the Execution of an Amendment Agreement with Labyrinth Resources Limited Relating to Their Project Acquisition Agreement of August 30 2021 & Results of Annual Meeting

(TheNewswire)

Brossard, Quebec – TheNewswire - November9 th , 2022 - G.E.T.T Gold Inc. (“GETT” or the “Company”) (TSXV :GETT), announces that the terms andconditions of the project acquisition agreement dated August 30, 2021with Labyrinth Resources Limited (“ Labyrinth ”) (ASX:LRL) have been amended with respect to the final acquisition tranchepayment and the twelve-month gold payment due November 2022.

The amended terms are as follows:

  • Labyrinth shall pay to the Company an amount ofCAD$500,000 on or before December 21, 2022, and shall pay the balanceof the final acquisition tranchepayment , being CAD$1,000,000 on or before March31, 2023, with such balance bearing interest at a simple rate of 7%per annum, accruing from November 30, 2022 to the earlier of March 31,2023 or the date where the balance is fully paid;

  • Labyrinth shall deliver to the Company a cash paymentequivalent to 450oz of gold on or before March 31, 2023, with suchpayment bearing interest at a simple rate of 7% per annum, accruingfrom November 30, 2022 to the earlier of March 31, 2023 or the datewhere the balance is fully paid.

  • Labyrinth may pay the aforementioned payments in fullor in part at any time and at its sole discretion, on or before March31, 2023.

Results of Annual General Meeting ofthe Shareholders

The Company is also pleased to announce the results of its 2022 Annual GeneralMeeting (“ AGM ”) of shareholders held virtually on Tuesday, November 8,2022.

Shareholders approved all the resolutions detailed inthe management information circular of the Company dated October 12,2022 (the “ Circular ”), namely:

  • Electing all the nominees to the Board ofDirectors of the Company.

  • Appointing KPMG LLP as auditor of the Company forthe ensuing year and authorizing the directors to determine theauditor’s compensation.

  • Approving the Company’s Omnibus IncentivePlan.

About G.E.T.T Gold

G.E.T.T Gold is active in the exploration and thedevelopment of gold resources in Quebec. G.E.T.T Gold also has anexclusive license for the Thermal Fragmentation mining method.

The company’s growth strategy is based on:

• The development of its gold deposit with theobjective of producing revenue from its operations;

• Increasing the value of its mining asset byprioritizing its exploration targets; and

• The commercialization and deployment of its thermalfragmentation technology.

Follow the link to view G.E.T.T Gold’s new website www.gettgold.com

For additional information:
John Stella, Investor relations                        (514) 718-7976 jstella@gettgold.com
Fabien Miller, President & CEO                     (514) 892-1935 fmiller@gettgold.com

Neither TSX Venture Exchange nor itsRegulation Services Provider (as that term is defined in the policiesof the TSX Venture Exchange) accepts responsibility for the accuracyor adequacy of this release.

Cautionary Note RegardingForward-Looking Information

This news release may containforward-looking statements including but not limited to commentsregarding performance of obligations by Labyrinth in connection withthe project acquisition agreement, etc. Forward-looking statementsaddress future events and conditions and therefore involve inherentrisks and uncertainties. Actual results may differ materially fromthose currently anticipated in such statements.

G.E.T.T Gold inc. 7055 TaschereauBlvd., suite 500, Brossard (Québec) J4Z 1A7

Tel: (450)510-4442 www.gettgold.com

Copyright (c) 2022 TheNewswire - All rights reserved.

Stock Information

Company Name: G.E.T.T. Gold Inc.
Stock Symbol: GETT:CC
Market: TSXVC
Website: gettgold.com

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