(TheNewswire)
Vancouver, British Columbia – TheNewswire - November 15, 2022 – Gold Lion Resources Inc. (“Gold Lion” or the “Company”) (CSE:GL) (OTC:GLIOF) (FWB:2BC) announces that the mineral option agreement (the“ Agreement ”) with Elcora Advanced Materials Corp. (“ Elcora ”) previouslyannounced on September 21,2022 to purchase up to a 50% interestin a mining license in Morocco has been mutually rescinded.
As a result, Elcora will return to the Company the5,000,000 common shares of Gold Lion issued at deemed price of $0.05per share and the cash payment of $75,000 for the initial 25% interestin the license. Neither party will be required to pay the other atermination fee as a result of the rescindment of theAgreement.
Gold Lion also announces that Shidan Gouran hasresigned as a director of the Company and Mr. Alex Benger has beenappointed as a director of the Company, both effectiveimmediately.
Mr. Benger is an accomplished leader and entrepreneurwith experience in the biotech and plant-based sectors. Mr. Bengeralso has several years of experience in marketing having led severalcreative digital marketing strategies over a variety of industries. Heholds a bachelor in economics and a minor in business from theUniversity of Victoria.
The Company wishes to thank Mr. Gouran for hiscontributions to the Company and wishes him well with his futureendeavors.
About Gold Lion Resources Inc.
Gold Lion Resources Inc. is a mineral explorationcompany actively involved in the exploration of its precious metalfocused portfolio including Black Lake, Cuteye and Fairview Propertieslocated in British Columbia, Saskatchewan and Idaho, USA. For moreinformation please visit: https://goldlionresources.com/ .
For more information, please contact:
Guy Bourgeois, Chief Executive Officer, Gold Lion Resources Inc.
T: 902.225.8881
Neither the CSE nor their RegulationServices Providers (as that term is defined in the policies of theCSE) accepts responsibility for the adequacy or accuracy of thisrelease.
This news release contains “forward-lookinginformation” within the meaning of applicable Canadian securitieslegislation. Often, but not always, forward-looking information andinformation can be identified by the use of words such as “plans”,“expects” or “does not expect”, “is expected”,“estimates”, “intends”, “anticipates” or “does notanticipate”, or “believes”, or variations of such words andphrases or state that certain actions, events or results “may”,“could”, “would”, “might” or “will” be taken, occur orbe achieved. Forward-looking information in this news release includesstatements regarding assumptions that are subject to significant risksand uncertainties. The forward-looking information reflectsmanagement's current expectations based on information currentlyavailable and are subject to a number of risks and uncertainties thatmay cause outcomes to differ materially from those discussed in theforward-looking information. Although the Company believes that theassumptions and factors used in preparing the forward-lookinginformation are reasonable, undue reliance should not be placed onsuch information and no assurance can be given that such events willoccur in the disclosed time frames or at all. Factors that could cause actual results or events to differmaterially from current expectations include: (i) adverse marketconditions; and (ii) other factors beyond the control of the Company.New risk factors emerge from time to time, and it is impossible forthe Company’s management to predict all risk factors, nor can theCompany assess the impact of all factors on Company’s business orthe extent to which any factor, or combination of factors, may causeactual results to differ from those contained in any forward-lookinginformation. The forward-looking information included in this newsrelease are made as of the date of this news release and the Companyexpressly disclaims any intention or obligation to update or reviseany forward-looking information whether as a result of newinformation, future events or otherwise, except as required byapplicable law. Additional information identifying risks anduncertainties that could affect financial results is contained in theCompany’s filings with Canadian securities regulators, which areavailable at www.sedar.com.
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