VG:CC - Volcanic Gold proposes extension of previously issued share purchase warrants

(TheNewswire)

News Release
Shares issued 45,551,210
VG close - C$0.25

Vancouver, British Columbia – Volcanic Gold MinesInc. (TSXV-VG) (“Volcanic” or the “Company”) announces that its management hasdetermined that it is in the best interests of the Company to extendthe expiry date of certain common share purchase warrants exercisableat $0.70 per share which were issued in October 2020 pursuant to theCompany’s public offering and concurrent private placement.

The original expiry date of these warrants of April 20,2022 was previously extended to April 19, 2024, and it is nowproposed, subject to TSX Venture Exchange acceptance, that the expirydate of:

• 6,273,250 outstanding warrants issued pursuant to thepublic offering, and

• 1,558,550 outstanding warrants issued pursuant to theconcurrent private placement,

be extended by a further 12 months, to April 18,2025.

About Volcanic

Volcanic brings together an experienced andsuccessfu l mining, exploration and capitalmarkets team focused on building multi-million -ounce gold and silver resources in underexplored countries. Through the strategic acquisition ofmineral properties with demonstrated potential for hosting gold andsilver resources, and by undertaking effective exploration and drillprograms, Volcanic intends to become a leading gold-silver company.

For further information, visit our website at www.volgold.com .

Volcanic Gold Mines Inc.

Simon Ridgway, President and CEO

Neither the TSX Venture Exchange nor the Investment IndustryRegulatory Organization of Canada accepts responsibility for theadequacy or accuracy of this release.

Forward-looking statements

Certain statements contained in this news release constituteforward-looking statements within the meaning of Canadian securitieslegislation. All statements included herein, other than statements ofhistorical fact, are forward- looking statements and include, withoutlimitation, statements about the proposed warrantextension . Often, but not always, these forward-lookingstatements can be identified by the use of words such as“estimate”, “estimates”, “estimated”, “potential”,“open”, “future”, “assumed”, “projected”, “used”,“detailed”, “has been”, “gain”, “upgraded”,“offset”, “limited”, “contained”, “reflecting”,“containing”, “remaining”, “to be”, “periodically”, orstatements that events, “could” or “should” occur or beachieved and similar expressions, including negative variations.

Forward-looking statements involve known and unknown risks,uncertainties and other factors which may cause the actual results,performance or achievements of the Company to be materially differentfrom any results, performance or achievements expressed or implied byforward-looking statements. Such uncertainties and factors include,among others, whether the proposed warrant extensionwill be completed as intended; the uncertainties inherent in the mineral resourceestimates; whether the Company’s planned exploration workwill be proceed as intended; whether the Company will acquire any newproperty interests in Guatemala; changes in general economicconditions and financial markets; the Company or any joint venturepartner not having the financial ability to meet its exploration anddevelopment goals; risks associated with the results of explorationand development activities, estimation of mineral resources and thegeology, grade and continuity of mineral deposits; unanticipated costsand expenses; and such other risks detailed from time to time in theCompany’s quarterly and annual filings with securities regulatorsand available under the Company’s profile on SEDAR at www.sedar.com. Although the Company has attempted to identify important factors thatcould cause actual actions, events or results to differ materiallyfrom those described in forward-looking statements, there may be otherfactors that cause actions, events or results to differ from thoseanticipated, estimated or intended.

Forward-looking statements contained herein are based on theassumptions, beliefs, expectations and opinions of management,including but not limited to: that the proposed warrantextension will be completed as intended; that the Company’sstated goals and planned exploration and development activities willbe achieved; that there will be no material adverse change affectingthe Company or its properties; and such other assumptions as set outherein. Forward-looking statements are made as of the date hereof andthe Company disclaims any obligation to update any forward-lookingstatements, whether as a result of new information, future events orresults or otherwise, except as required by law. There can be noassurance that forward-looking statements will prove to be accurate,as actual results and future events could differ materially from thoseanticipated in such statements. Accordingly, investors should notplace undue reliance on forward-looking statements.

Copyright (c) 2024 TheNewswire - All rights reserved.