GETT:CC - Update on sale of Rocmec and Denain Projects
(TheNewswire)
Brossard (Quebec) – TheNewswire- February 26th, 2024 - G.E.T.T Gold Inc.(“ GETT ”) (TSXV:GETT), is pleased to announce that it hascompleted the previously announced sale of its Rocmec 1 and Denainprojects to Labyrinth Resources Limited(“ LRL ”). Reference ismade to GETT’s news releases of September 1, 2021, November 9, 2022,April 11, 2023 and May 17, 2023 (the “ Transaction ”).
In addition to the cash consideration received by GETTin connection with the Transaction, which included an additionalpayment of CAD$614,455.00 as compensation for the extensions grantedto LRL to complete payment of the purchase price, GETT retains itsentitlement to receive the outstanding 4,300 ounces of physical goldto be delivered pursuant to an agreed upon schedule. If the propertiesare brought into production, the delivery of such physical gold willbe used by GETT to deliver physical gold to its outstanding goldlenders. Following the transfer of the projects, LRL agreed to grantGETT a first ranking security over the projects to guarantee its golddeliveries to GETT.
Corporate Update
Management wishes to inform that in line with thecompany’s R&D program, rigorous performance and reliabilitytesting of the thermal fragmentation unit, known as the Etract’Ore,are currently underway as the company prepares to conduct real-timeunderground testing of its exclusive and patented thermalfragmentation mining method in a mining operation located in Quebec.
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 commercialization and deployment of its thermalfragmentation technology.
• Increasing the value of its mining asset byprioritizing its exploration targets; and
• The development of its gold deposit with theobjective of producing revenue from its operations.
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 adequacyor accuracy of this release. This press releaseincludes certain statements that may be deemed "forward-lookingstatements". All statements in this release, other thanstatements that relate to the delivery schedule of physical goldproduction are forward looking statements. Although the Corporationbelieves the expectations expressed in such forward-looking statementsare based on reasonable assumptions, such statements are notguarantees of future performance and actual results or developmentsmay differ materially from those in forward-looking statements.Factors that could cause actual results to differ materially fromthose in forward looking statements include the ability of LRL tobring the properties into production.
G.E.T.T Gold inc. 7055 TaschereauBlvd., suite 500, Brossard (Québec) J4Z 1A7
Tel: (450)510-4442 www.gettgold.com
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