(TheNewswire)
VANCOUVER, BC – TheNews w ire – March13, 2024 - STELLAR AFRICAGOLDINC . (TSXV:SPX) (the “ Company ” or“ Stellar ”) announces it has agreed to issuean aggregate 8,473,763 common shares in the capital of the Company atan agreed price of $0.025 per share to settle approximately $211,845in debt (the “ Shares forDebt Settlement ”) with arms-length creditors.
The board of directors and management of the Companybelieve that the proposed Shares for Debt Settlement is in the bestinterests of the Company because it allows the Company to preserve itslimited cash on hand for essential operations.
The Shares for Debt Settlement is subject to TSXVenture Exchange approval.
The settlement shares will be subject to a statutoryfour-month and one day hold period from the date of issuance.
ABOUT STELLAR AFRICAGOLD INC.
Stellar AfricaGold Inc . is a Canadian precious metalexploration company listed on the TSX Venture Exchange symbol TSX.V: SPX , theTradegate Exchange TGAT: 6YP1 and the Frankfurt Stock Exchange FSX: 6YP1 .
The Company has its head officed in Vancouver, BC andhas a representative office in Casablanca, Morocco.
Stellar’s principal exploration project is itsadvancing gold discovery at the Tichka Est Gold Project in Morocco.
The technical content of this press release has beenreviewed and approved by M. Yassine Belkabir, MScDIC, CEng, MIMMM, a Stellar director and a QualifiedPerson as definedin NI 43-101.
Stellar’s Presidentand CEO J. François Lalonde can be contacted at514-994-0654 or by email at lalondejf@stellarafricagold.com
Additional information is available on the Company’swebsite at www.stellarafricagold.com .
On Behalf of the Board
J. François Lalonde
President & Director
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.
Disclaimer &Forward-Looking Statements:
This release contains certain"forward-looking information" under applicable Canadiansecurities laws concerning the Arrangement. Forward-lookinginformation reflects the Company’s current internal expectations orbeliefs and is based on information currently available to theCompany. In some cases forward-looking information can be identifiedby terminology such as "may", "will","should", "expect", "intend","plan", "anticipate", "believe","estimate", "projects", "potential","scheduled", "forecast", "budget" or thenegative of those terms or other comparable terminology. Many of theseassumptions are based on factors and events that are not within thecontrol of the Company, and there is no assurance they will prove tobe correct or accurate. Risk factors that could cause actual resultsto differ materially from those predicted herein include, withoutlimitation: that the business prospects and opportunities of theCompany will not proceed as anticipated; changes in the global pricesfor gold or certain other commodities (such as diesel, aluminum andelectricity); changes in U.S. dollar and other currency exchange rates, interest rates orgold lease rates; risks arising from holding derivative instruments;the level of liquidity and capital resources; access to capitalmarkets, financing and interest rates; mining tax regimes; ability tosuccessfully integrate acquired assets; legislative, political oreconomic developments in the jurisdictions in which the Companycarries on business; operating or technical difficulties in connectionwith mining or development activities; laws and regulations governingthe protection of the environment; employee relations; availabilityand increasing costs associated with mining inputs and labour; thespeculative nature of exploration and development; contests over titleto properties, particularly title to undeveloped properties; and therisks involved in the exploration, development and mining business.Risks and unknowns inherent in all projects include the inaccuracy ofestimated reserves and resources, metallurgical recoveries, capitaland operating costs of such projects, and the future prices for therelevant minerals.
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