(TheNewswire)
Calgary, Alberta – TheNewswire - August 4,2022: Stuve Gold Corp. (the“ Corporation ” or “ Stuve Gold ”) (TSXV: STUV ) announces that it intends toproceed with a non-brokered private placement (the “ Offering ”) of up to 700convertible unsecured debentures (“ Debentures ”) at a face value of $1,000 per Debenture foraggregate gross proceeds of up to $700,000.
The Debentures will carry interest at a rate of seven percent (7%) perannum, and mature two (2) years from the date of issue. The Debenturesmay be convertible by the holders at any time prior to maturity intocommon shares of the Corporation (“ Common Shares ”) at a conversion price of $0.06 per CommonShare if converted within one (1) year of issue or at a conversionprice of $0.10 per Common Share if converted thereafter.
Proceeds from the Offering will be used to fund the general workingcapital requirements of the Corporation, to pay annual claim taxes andto fund the next US $100,000 payment required to be made pursuant tothe acquisition of the Inca property located in Chile (see theCorporation’s April 22, 2021 press release).
Completion of the Offering is subject to regulatory approval,including the approval of the TSX Venture Exchange. The securitiesissued will be subject to a four month hold period from the date ofthe closing of the Offering. It is anticipated that insiders willparticipate in the Offering.
About Stuve Gold
Stuve Gold is engaged in advancing mineral properties in Chile thatexhibit promising potential for gold, copper, silver and cobalt as aresult of historical mining activities on, or associated with, thoseproperties. Each of the properties within Stuve Gold’s currentportfolio, including the ‘Coba SW’, the ‘Inca’ and the‘Santa Gracia’ properties, exhibit those attributes.
Stuve Gold's common shares are listed on the TSX-V under the symbol" STUV ". Moreinformation on Stuve Gold may be viewed on Sedar.com or theCorporation's website www.stuvegoldcorp.com .
NOT FOR DISTRIBUTION TO U.S. NEWSWIRESERVICES OR FOR DISSEMINATION IN THE UNITED STATES
Cautionary Note RegardingForward-Looking Statements
This news release includes certain"forward-looking statements" under applicable Canadiansecurities legislation. Forward-looking statements include, but arenot limited to, the use of proceeds and obtaining acceptance of theOffering from the TSX Venture Exchange. Forward-looking statements arenecessarily based upon a number of estimates and assumptions that,while considered reasonable, are subject to known and unknown risks,uncertainties and other factors which may cause the actual results andfuture events to differ materially from those expressed or implied bysuch forward-looking statements. Such factors include, but are notlimited to: general business, economic, competitive, political andsocial uncertainties; delay or failure to receive board, shareholderor regulatory approvals; the price of metals including gold, silver,copper and cobalt; and the results of exploration programs. There canbe no assurance that such statements will prove to be accurate, asactual results and future events could differ materially from thoseanticipated in such statements. Accordingly, readers should not placeundue reliance on forward-looking statements. Stuve Gold disclaims anyintention or obligation to update or revise any forward-lookingstatements, whether as a result of new information, future events orotherwise, except as required by law.
Neither the TSXVenture Exchange nor its Regulation Services Provider (as that term isdefined in the policies of the TSX Venture Exchange) acceptsresponsibility for the adequacy or accuracy of this release.
For further information, pleasecontact:
Gordon Aldcorn
President, Stuve Gold Corp.
Phone: (403) 618 6507
Email: galdcorn@stuvegoldcorp.ca
Copyright (c) 2022 TheNewswire - All rights reserved.