(TheNewswire)
Kelowna,B C - TheNewswire - May 11 , 2023 - South Atlantic GoldInc. (TSX-V:SAO) (“ South Atlantic” or the “ Company” ) announces that, in accordance with its Option Plan(“ Plan ”) and Long-Term Incentive Plan (“ LTIP ”) the Companyhas granted an aggregate 1,810,000 stock options (" Options "),180,000 restricted share units (" RSUs ") and anaggregate 2,360,000 deferred share units (" DSU s") tocertain directors, officers, employees and consultants of the Companysubject to regulatory acceptance. The grants arepursuant to the Company's Plan and LTIP that were approved byshareholders on December 6, 2022.
The Options are exercisable at $0.05 per share for aperiod of five years. The DSUs and RSUs aregoverned by the Company’s LTIP and will be subject to applicablesecurities law hold periods.
ON BEHALF OF THE BOARD
Douglas Meirelles, President and CEO
For more information regarding thisnews release, please contact:
Douglas Meirelles, President and CEO
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; adverseindustry events; the receipt of required regulatory approvals and thetiming of such approvals; that the Company maintains goodrelationships with the communities in which it operates or proposes tooperate, future legislative and regulatory developments in the miningsector; the Company’s ability to access sufficient capital frominternal and external sources, and/or inability to access sufficientcapital on favorable terms; mining industry and markets in Canada andgenerally; the ability of the Company to implement its businessstrategies; competition; therisk that any of the assumptions prove not to be valid or reliable,which could result in delays, or cessation in planned work, risksassociated with the interpretation of data, the geology, grade andcontinuity of mineral deposits, the possibility that results will notbe consistent with the Company’s expectations, as well as otherassumptions risks and uncertainties applicable to mineral explorationand development activities and to the Company, including as set forthin the Company’s public disclosure documents filed on the SEDARwebsite 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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