(TheNewswire)
VANCOUVER, BC – TheNews w ire – April 8,2024 - STELLAR AFRICAGOLDINC . (TSXV:SPX) (the “ Company ” or“ Stellar ”) announces that the Company hasclosed the previously announced shares for debt settlement.
The Company received TSX VentureExchange conditional approval and issued9,055,510 common shares at an agreed price of $0.025 per share tosettle $226,388 in debt (the “ Shares for Debt Settlement ”) with arms’length creditors. The resolution of these debts strengthens theCompany’s balance sheet which will, in turn, better position theCompany for future equity financings as market conditionswarrant.
The Shares for Debt Settlement is subject to final 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 is head officed in Vancouver, BC and has arepresentative office in Casablanca, Morocco.
Stellar’s principal exploration project is itsadvancing gold discovery at the Tichka Est Gold Project in Morocco.
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 othercommodities (such as diesel, aluminum and electricity); changes inU.S. dollar and other currency exchange rates, interest rates or goldlease rates; risks arising from holding derivative instruments; thelevel of liquidity and capital resources; access to capital markets,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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