(TheNewswire)
Kelowna, BritishColumbia – TheNewswire - February 8, 2021 - SOUTH ATLANTIC GOLD INC. (TSXV:SAO) (OTC:JLRRF) (“ South Atlantic” or the “ Company” ) is pleased toannounce the engagement of Red Cloud Financial Services Inc. and RedCloud Securities Inc (collectively “ Red Cloud ”) to provide the Company with capital marketsadvisory and marketing services (“ Red Cloud Agreement ”).
Red Cloud will provide the C ompany with a range of capital marketsadvisory services and access to its mineral industry network toincrease the Company’s exposure to alternative sources of capitaland to generate and maintain relationships with new and key investors.South Atlantic will be participating in many of the services of RedCloud including marketing, media and advisement. The monthly marketingfee shall be $10,000 per month (“ Marketing Fee ”). In addition to the Marketing Fee, Red Cloudwill receive a transaction fee in the event that a transaction(" Transaction ") is consummated dependent on the value of thatTransaction.
Red Cloud is a Toronto-based financial services companythat provides assistance to mineral exploration and mining companiesin accessing capital markets and enhancing their corporateprofile.
Further to the Company’s recent appointment of AnneHite (“ Hite ”) as VP Investor Relations the Company and Hite haveentered into a consulting agreement (“ IR Agreement ”) fora period of 12 months on a part-time basis, at an initial monthly feeof US$2,000 increasing to a full-time basis upon completion of certainmilestones to a maximum rate of US$9,500 per month.
The Red Cloud Agreement and IR Agreement are subject toTSX Venture Exchange approval.
About South Atlantic Gold
South Atlantic Gold is an exploration company engagedin acquiring and advancing mineral properties located in the Americas.The Company’s principal BC asset is the wholly owned 4,056-hectareBig Kidd property, located near Aspen Grove, BC. Our Brazilianflagship asset is our option to acquire the Pedra Branca project,located 280 km southwest of Fortaleza, Ceara State, Brazil. SouthAtlantic Gold is focused on creating value for its shareholders byengaging in the development and acquisition of high-quality mineralassets located in stable and mining friendly jurisdictions. SouthAtlantic Gold’s is based in Kelowna, British Columbia, and is listedon the TSX-V under the symbol “SAO.
ON BEHALF OF THE BOARD
Douglas Meirelles, President and CEO
For more information regarding thisnews release, please contact:
Douglas Meirelles, President and CEO
Anne Hite, Vice President, Investor Relations
T: 250-762-5777
Email: ir@southatlanticgold.com
Cautionary NoteRegarding Forward-Looking Information
This news release containsstatements that constitute "forward-lookingInformation", as suchterm is used in applicable Canadian securities laws . Such forward-looking informationinvolves known and unknown risks, uncertainties and other factors thatmay cause the Company’s actual results, performance or achievements,or developments in the industry to differ materially from theanticipated results, performance or achievements expressed or impliedby such forward-looking information. Forward-looking informationincludes statements that are not historical facts and are generally,but not always, identified by the words "expects,""plans," "anticipates," "believes,""intends," "estimates," "projects,""potential" and similar expressions, or that events orconditions "will," "would," "may,""could" or "should" occur.
Although the Company believes theforward-looking information contained in this news release isreasonable based on information available on the date hereof, by itsnature forward-looking information involves assumptions and known andunknown risks, uncertainties and other factors which may cause ouractual results, level of activity, performance or achievements, orother future events, to be materially different from any futureresults, performance or achievements expressed or implied by suchforward-looking information. There can be no assurance that the Fundamental Acquisition will becompleted as proposed or at all.
Examples of such assumptions, risksand uncertainties include, without limitation, assumptions, risks anduncertainties associated with general economic conditions; theCovid-19 pandemic; adverse industry events; the receipt of requiredregulatory approvals and the timing of such approvals; that theCompany maintains good relationships with the communities in which itoperates or proposes to operate, future legislative and regulatorydevelopments in the mining sector; the Company’s ability to accesssufficient capital from internal and external sources, and/orinability to access sufficient capital on favorable terms; miningindustry and markets in Canada and generally; the ability of theCompany to implement its business strategies; competition; the risk that any of theassumptions prove not to be valid or reliable, which could result indelays, or cessation in planned work, risks associated with theinterpretation of data, the geology, grade and continuity of mineraldeposits, the possibility that results will not be consistent with theCompany’s expectations, as well as other assumptions risks anduncertainties applicable to mineral exploration and developmentactivities and to the Company, including as set forth in theCompany’s public disclosure documents filed on the SEDAR website at www.sedar.com .
THEFORWARD-LOOKING INFORMATION CONTAINED IN THIS NEWS RELEASE REPRESENTSTHE EXPECTATIONS OF THE COMPANY AS OF THE DATE OF THIS NEWS RELEASEAND, ACCORDINGLY, IS SUBJECT TO CHANGE AFTER SUCH DATE. READERS SHOULDNOT PLACE UNDUE IMPORTANCE ON FORWARD-LOOKING INFORMATION AND SHOULDNOT RELY UPON THIS INFORMATION AS OF ANY OTHER DATE. WHILE THE COMPANYMAY ELECT TO, IT DOES NOT UNDERTAKE TO UPDATE THIS INFORMATION AT ANYPARTICULAR TIME EXCEPT AS REQUIRED IN ACCORDANCE WITH APPLICABLELAWS.
Neither the TSX Venture Exchange norits Regulation Services Provider (as that term is defined in thepolicies of the TSX Venture Exchange) accepts responsibility for theadequacy or accuracy of this release .
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