Base Metals

TSX Venture Exchange Stock Maintenance Bulletins

TSX Venture Exchange Stock Maintenance Bulletins

TSX VENTURE COMPANIES

CHINA EDUCATION RESOURCES INC. ("CHN.H")
[Formerly China Education Resources Inc.  ("CHN")]
BULLETIN TYPE: Transfer and New Addition to NEX, Symbol Change, Remain Suspended
BULLETIN DATE: January 24, 2023
TSX Venture Tier 2 Company

In accordance with TSX Venture Policy 2.5, the Company has not maintained the requirements for a TSX Venture Tier 2 company.  Therefore, effective at the opening on Thursday , January 26, 2023 , the Company's listing will transfer to NEX, the Company's Tier classification will change from Tier 2 to NEX, and the Filing and Service Office will change from Vancouver to NEX.

As of January 26, 2023 , the Company is subject to restrictions on share issuances and certain types of payments as set out in the NEX policies.

The trading symbol for the Company will change from CHN to CHN.H.  There is no change in the Company's name, no change in its CUSIP number and no consolidation of capital.  The symbol extension differentiates NEX symbols from Tier 1 or Tier 2 symbols within the TSX Venture market.

Further to the Exchange bulletins issued July 11, 2022 , and September 8, 2022 trading in the shares of the Company will remain suspended.

Members are prohibited from trading in the securities of the Company during the period of the suspension or until further notice.

____________________________________________

FABLED SILVER GOLD CORP. ("FCO ")
BULLETIN TYPE:  Consolidation
BULLETIN DATE: January 24, 2023
TSX Venture Tier 2 Company

Pursuant to a special resolution passed by the Directors on January 11, 2023 , the Company has consolidated its capital on a (5) old for (1) new basis. The name of the Company has not been changed.

Effective at the opening Thursday, January 26, 2023 , the  shares of  will commence trading on TSX Venture Exchange on a consolidated basis. The Company is classified as a 'Mining' company.

Post - Consolidation

Capitalization:                          Unlimited         shares with no par value of which
43,089,330     shares are issued and outstanding

Escrow                                      Nil                  shares are subject to escrow

Transfer Agent:                         Computershare Investor Services Inc.

Trading Symbol:                        FCO                 ( UNCHANGED )
CUSIP Number:                        30317M403       ( NEW )

________________________________________

STAMPER OIL & GAS CORP. ("STMP")
BULLETIN TYPE:  Resume Trading
BULLETIN DATE: January 24, 2023
TSX Venture Tier 2 Company

Effective at the opening on Thursday, January 26, 2023 , the shares of the Company will resume trading.

Further to the news release dated January 17, 2023 , the Company has completed its previously announced Fundamental Acquisition, as defined under TSX Venture Exchange Corporate Finance Manual Policy 5.3.

________________________________________

VIRGINIA ENERGY RESOURCES INC. ("VUI ")
BULLETIN TYPE:  Plan of Arrangement, Delist
BULLETIN DATE: January 24, 2023
TSX Venture Tier 2 Company

TSX Venture Exchange Inc. (the "Exchange") has accepted for filing documentation in connection with the arrangement between Virginia Energy Resources Inc. (the "Company") and Consolidated Uranium Inc. ("CUR"), pursuant to the terms of an arrangement agreement dated November 14, 2022 , and a court-approved plan of arrangement under section 288 of the Business Corporations Act ( British Columbia ) (the "Arrangement").

Pursuant to the terms of the Arrangement, all of the issued and outstanding common shares of the Company (each, a "Company Share"), other than Company Shares already held by CUR, were exchanged on the basis of 0.26 (the "Exchange Ratio") of a common share of CUR (each whole common share, a "CUR Share") for each Company Share (the "Consideration"). Holders of outstanding stock options to purchase Company Shares (each, a "Company Option") have received replacement options to acquire CUR Shares adjusted based on the Exchange Ratio and holders of outstanding restricted share units of the Company (the "Company RSUs") had their Company RSUs vest and settled for Company Shares and then exchanged for the Consideration.

The Exchange has been advised that approval of the Arrangement by shareholders of the Company was received at a special meeting of shareholders held on January 19, 2023 , and that the Supreme Court of British Columbia provided its final order approving the plan of arrangement on January 23, 2023 . The Exchange has been advised that the Arrangement closed on January 24, 2023 . The full particulars of the Arrangement are set forth in the Company's Information Circular dated December 15, 2022 , which is available under the Company's profile on SEDAR.

Delist:

Further to the completion of the Arrangement effective at the close of business Wednesday, January 25, 2023 , the common shares of the Company will be delisted from TSX Venture Exchange at the request of the Company.

________________________________________

23/01/24 - TSX Venture Exchange Bulletins

TSX VENTURE COMPANIES

African Energy Metals Inc. ("CUCO ")
BULLETIN TYPE:  Resume Trading
BULLETIN DATE: January 24, 2023
TSX Venture Tier 2 Company

Effective at 6:30  a.m. PST, Jan. 24, 2023 , shares of the Company resumed trading, an announcement having been made.

________________________________________

CVW CLEANTECH INC. ("CVW")
BULLETIN TYPE:  Private Placement-Non-Brokered
BULLETIN DATE: January 24, 2023
TSX Venture Tier 2 Company

TSX Venture Exchange has accepted for filing documentation with respect to a Non-Brokered Private Placement announced on September 6, 2022 and further amended on September 20, 2022 :

Number of Units:                       1,166,664 units ("Units"). Each Unit will consist of one common share of the Company and one common share purchase warrant

Purchase Price: $1.20 per Unit

Warrants:                                   1,166,664 share purchase warrants to purchase 1,166,664 shares

Warrant Exercise Price: $1.80 for a four-year period from the date of issuance

Number of Placees:                   40 placees

Insider / Pro Group Participation:






Placees

# of Placee (s)

Aggregate # of Units




Aggregate Existing Insider Involvement:

1

208,334





Aggregate Cash

Amount

Aggregate #

of Shares

Aggregate #

of Warrants

Finder's Fee:

N/A

N/A

N/A

The Company issued a news release on October 11, 2022 confirming closing of the private placement. Note that in certain circumstances the Exchange may later extend the expiry date of the warrants, if they are less than the maximum permitted term.

________________________________________

KLONDIKE SILVER CORP. ("KS ")
BULLETIN TYPE:  Shares for Bonuses
BULLETIN DATE: January 24, 2023
TSX Venture Tier 2 Company

TSX Venture Exchange has accepted for filing the Company's proposal to issue 400,000 bonus shares at a deemed price of $0.05 per share to 6 Arm's Length Parties, in consideration of loans in the total amount of $100 ,000 for a term of one year, and bear interest at a rate of 10% per annum.

Please refer to the Company's news release on January 23, 2023 for more details.

________________________________________

NEXOPTIC TECHNOLOGY CORP. ("NXO")
BULLETIN TYPE:  Shares for Debt
BULLETIN DATE: January 24, 2023
TSX Venture Tier 2 Company

TSX Venture Exchange has accepted for filing of the Company's proposal to issue 1,589,846 shares to three arm's length parties at a deemed price of CAD $0.065 per unit to settle the outstanding debt of CAD $103,340 and issue 5,132,626 shares to a non-arm's length party to settle outstanding debt for $ 333,620.70 .

Number of Creditors:                 4 Creditors

Non-Arm's Length Party / Pro Group Participation:

Creditors                               # of Creditors   Amount Owing    Deemed Price     Aggregate #
per Share            of Shares

Aggregate Non-Arm's
Length Party
Involvement:                              1                      $333,620.7 $0 .065                  5,132,626


Aggregate Pro Group
Involvement:                              N/A                 N/A                         N/A                         N/A

For more details, please refer to the Company's news releases dated November 07, 2022 .

________________________________________

NOWVERTICAL GROUP INC. ("NOW") ("NOW.WT") ("NOW.WT.A")
BULLETIN TYPE: Property-Asset or Share Purchase Agreement
BULLETIN DATE: January 24, 2023
TSX Venture Tier 2 Company

TSX Venture Exchange (the "Exchange") has accepted for filing documentation pertaining to a share purchase agreement (the "Agreement"), between NowVertical Group Inc. (the "Company") and arm's length vendors, pursuant to which the Company will acquire 100% of Acrotrend Solutions. Under the terms of the Agreement, the Company will acquire Acrotrend Solutions in exchange for (i) a closing cash payment of US$4.1 million , (ii) issuance of 750,000 subordinate voting shares at a deemed price of $1.00 USD per share, and (iii) the earn-out consideration paid over three fiscal years based on certain adjusted EBITDA, a portion of which may be payable in subordinate voting shares in the capital of the Company, subject to a maximum of 5,000,000 subordinate voting shares.

Property-Asset or Share Purchase Agreement

The Exchange has also accepted for filing documentation pertaining to a share purchase agreement between the Company and arm's length vendors, pursuant to which the Company will acquire 100% of Smartlytics Consultancy in exchange for (i) a closing cash payment of US$1 million , (ii) issuance of 600,000 subordinate voting shares, and (iii) the earn-out consideration paid over three fiscal years based on certain adjusted EBITDA, a portion of which may be payable in subordinate voting shares in the capital of the Company, subject to a maximum of 926,413 subordinate voting shares.

For more information, refer to the Company's news releases dated December 12, 2022 and January 12, 2023 .

_____________________________________

PATAGONIA GOLD CORP. ("PGDC")
BULLETIN TYPE:  Shares for Debt
BULLETIN DATE: January 24, 2023
TSX Venture Tier 2 Company

TSX Venture Exchange has accepted for filing the Company's proposal to issue 4,495,049 common shares to settle outstanding debt for USD$50,408 (approximately CDN$67,425.74 ).

Number of Creditors:                 2 Creditors

Non-Arm's Length Party / Pro Group Participation:






Creditors

# of
Creditors

Amount Owing

Deemed Price
per Share

Aggregate # of
Shares






Aggregate Non-Arm's
Length Party Involvement:

2

CDN$67,425.74

CDN$0.015

4,495,049

The Company shall issue a news release when the shares are issued and the debt extinguished.

________________________________________

POND TECHNOLOGIES HOLDINGS INC. ("POND")
BULLETIN TYPE:  Shares for Debt
BULLETIN DATE: January 24, 2023
TSX Venture Tier 2 Company

TSX Venture Exchange has accepted for filing the Company's proposal to issue 1,086,428 common shares to settle outstanding debt for $108,642.83 .

Number of Creditors:                 1 Creditor

Non-Arm's Length Party / Pro Group Participation:






Creditors

# of
Creditors

Amount Owing

Deemed Price
per Share

Aggregate # of
Shares






Aggregate Non-Arm's
Length Party Involvement:

1

$108,642.83

$0.10

1,086,428

The Company shall issue a news release when the shares are issued and the debt extinguished.

________________________________________

POOL SAFE INC. ("POOL")
BULLETIN TYPE:  Shares for Debt
BULLETIN DATE: January 24, 2023
TSX Venture Tier 2 Company

TSX Venture Exchange has accepted for filing the Company's proposal to issue 750,000 common shares to settle outstanding debt for $22,500 .

Number of Creditors:                 1 Creditor

Non-Arm's Length Party / Pro Group Participation:






Creditors

# of
Creditors

Amount Owing

Deemed Price
per Share

Aggregate # of
Shares






Aggregate Non-Arm's
Length Party Involvement:

1

$22,500

$0.03

750,000

The Company shall issue a news release when the shares are issued and the debt extinguished.

________________________________________

STRATABOUND MINERALS CORP. ("SB")
BULLETIN TYPE:  Private Placement-Non-Brokered
BULLETIN DATE: January 24, 2023
TSX Venture Tier 2 Company

TSX Venture Exchange has accepted for filing documentation with respect to a Non-Brokered Private Placement announced on December 14, 2022 :

Number of Shares:                    33,100,000 units

Purchase Price: $0.05 per unit

Warrants:                                   33,100,000 share purchase warrants to purchase 33,100,000 shares

Warrant Exercise Price:             $0.07 for a two year period

Number of Placees:                   6 placees

Insider / Pro Group Participation:






Placees

# of Placee (s)

Aggregate # of Units




Aggregate Existing Insider Involvement:

3

30,400,000

Aggregate Pro Group Involvement:

N/A

N/A


Aggregate Cash
Amount

Aggregate #

of Shares

Aggregate #

of Warrants

Finder's Fee:

N/A

N/A

N/A

The Company issued a news release on January 24, 2023 confirming closing of the private placement. Note that in certain circumstances the Exchange may later extend the expiry date of the warrants, if they are less than the maximum permitted term.

________________________________________

TRIBE PROPERTY TECHNOLOGIES INC. ("TRBE ")
BULLETIN TYPE:  Property-Asset or Share Purchase Agreement
BULLETIN DATE: January 24, 2023
TSX Venture Tier 1 Company

TSX Venture Exchange has accepted for filing documentation with respect to the arm's length acquisition of a portfolio of certain strata property management assets from Warrington PCI Management (the "Vendor"), pursuant to an asset purchase agreement dated October 31, 2022 and an amending agreement dated December 28, 2022 , among Tribe Property Technologies Inc. (the "Company"), wholly-owned subsidiary of the Company and the general partners of the Vendor.

As consideration for the acquisition, the Company will satisfy the aggregate purchase price of CDN$375,000 as follows: (i) a cash payment of CDN$200,000 on the closing date to the Vendor; (ii) subject to certain milestones issue up to 62,500 common shares of the Company to the Vendor at a deemed floor price of CDN$1.20 per common share; and (iii) a cash payment of CDN$100,000 to be paid on February 5 , 2024.

For further details, please refer to the Company's news releases dated November 22, 2022 and January 9, 2023 .

________________________________________

VOYAGEUR PHARMACEUTICALS LTD. ("VM")
BULLETIN TYPE:  Shares for Debt
BULLETIN DATE: January 24, 2023
TSX Venture Tier 2 Company

TSX Venture Exchange has accepted for filing the Company's proposal to issue 125,322 common shares to settle outstanding debt for $12,500 .

Number of Creditors:                 2 Creditors

Non-Arm's Length Party / Pro Group Participation:






Creditors

# of
Creditors

Amount Owing

Deemed Price
per Share

Aggregate # of
Shares






Aggregate Non-Arm's
Length Party Involvement:

2

$12,500

$0.09974

125,322

The Company shall issue a news release when the shares are issued and the debt extinguished.

________________________________________

VOYAGEUR PHARMACEUTICALS LTD. ("VM")
BULLETIN TYPE:  Private Placement-Non-Brokered
BULLETIN DATE: January 24, 2023
TSX Venture Tier 2 Company

TSX Venture Exchange has accepted for filing documentation with respect to a Non-Brokered Private Placement announced on December 8, 2022 , December 23, 2022 , January 12, 2023 and January 20, 2023 :

Number of Units:                       17,142,133 units

Purchase Price: $0.07 per unit

Warrants:                                   17,142,133 share purchase warrants to purchase 17,142,133 shares

Warrant Exercise Price:             $0.12 for a two year period

Number of Placees:                   54 placees

Insider / Pro Group Participation:






Placees

# of Placee (s)

Aggregate # of Units




Aggregate Existing Insider Involvement:

N/A

N/A

Aggregate Pro Group Involvement:

1

300,000


Aggregate Cash
Amount

Aggregate #

of Shares

Aggregate #

of Warrants

Finder's Fee:

$16,648.80

N/A

277,840

Finder's Warrants Terms:           Each Finder's Warrant entitles the holder to purchase one Common Share at the price of $0.07 for a period of 1 year from the date of issuance.

The Company issued a news release on January 20, 2023 confirming closing of the private placement. Note that in certain circumstances the Exchange may later extend the expiry date of the warrants, if they are less than the maximum permitted term.

________________________________________

WECOMMERCE HOLDINGS LTD. ("WE ")
BULLETIN TYPE:  Resume Trading
BULLETIN DATE: January 24, 2023
TSX Venture Tier 1 Company

Effective at  12:00 p.m. PST, Jan. 24, 2023 , shares of the Company resumed trading, an announcement having been made.

________________________________________

YORK HARBOUR METALS INC. ("YORK ")
BULLETIN TYPE:  Halt
BULLETIN DATE: January 24, 2023
TSX Venture Tier 2 Company

Effective at 6:06 a.m. PST, Jan. 24, 2023 , trading in the shares of the Company was halted pending news; this regulatory halt is imposed by Investment Industry Regulatory Organization of Canada , the Market Regulator of the Exchange pursuant to the provisions of Section 10.9(1) of the Universal Market Integrity Rules.

________________________________________

YORK HARBOUR METALS INC. ("YORK ")
BULLETIN TYPE:  Resume Trading
BULLETIN DATE: January 24, 2023
TSX Venture Tier 2 Company

Effective at 7:45 a.m. PST, Jan. 24, 2023 , shares of the Company resumed trading, an announcement having been made.

________________________________________

YORKTON EQUITY GROUP INC. ("YEG ")
BULLETIN TYPE:  Resume Trading
BULLETIN DATE: January 24, 2023
TSX Venture Tier 2 Company

Effective at  12:15 p.m. PST, Jan. 23, 2023 , shares of the Company resumed trading, an announcement having been made.

________________________________________

SOURCE TSX Venture Exchange

Cision View original content: http://www.newswire.ca/en/releases/archive/January2023/24/c4960.html

News Provided by Canada Newswire via QuoteMedia

CUCO:CA
African Energy Metals Appoints Senior Uranium Advisor

African Energy Metals Appoints Senior Uranium Advisor

African Energy Metals Inc. (TSXV: CUCO) (FSE: BC2) (OTCQB: NDENF) (WKN: A3DEJG) ("African Energy Metals" or the "Company") is pleased to announce the Company has appointed Mr. Guy Hebert, a senior mining executive with extensive experience in uranium and polymetallic deposits to our Technical Advisory Board.

Mr. Guy Hebert has been active in the mining industry for the last 49 years and was the architect of over $400 million in financing for either uranium, gold, and base metal mining projects in Canada and internationally. He has brought three mines into production since 1980. Mr. Hebert was President and CEO of Strateco Resources Inc. where he developed the high-grade uranium Matoush project in Quebec between 2000 and 2020. Mr. Hebert was President and CEO of Lyon Lake Mines Ltd. from 1986 to 2001 and brought the Beta Vargas mine, a 1,000 tons per day open pit gold mine in Costa Rica, into production. He was President and CEO of Audrey Resources Inc. from 1985 to 1992 and started up the Bouchard-Hebert mine, a 2,500 tons per day open pit and underground polymetallic mine (Zn, Cu, Au, Ag) in Quebec that was taken over by Cambior in 1992. As President of Aiguebelle Resources Inc. from 1980 to 1985, Mr. Hebert brought the 1,500 tons per day Yvan Vezina gold mine in Quebec into production between 1980 and 1985 which was taken over by Cambior. Mr. Hebert holds a Bachelor of Sciences degree with a speciality in Geology from the University of Montreal (1973) and a Master of Business Administration from Sherbrooke University (1977).

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
African Energy Acquires Mali Project with Uranium, Copper and Silver Resources and Announces Financing

African Energy Acquires Mali Project with Uranium, Copper and Silver Resources and Announces Financing

African Energy Metals Inc. (TSXV: CUCO) (FSE: BC2) (OTCQB: NDENF) ("African Energy Metals" or the "Company") and GoviEx Uranium Inc. (TSXV: GXU) (OTCQX: GVXXF) ("GoviEx") have entered into a definitive share purchase agreement dated January 17, 2023 (the "Share Purchase Agreement") pursuant to which African Energy Metals will acquire from GoviEx all of the issued and outstanding shares of GoviEx's indirectly owned Malian subsidiary, Delta Exploration Mali SARL ("Delta") (the "Transaction). Delta holds three uranium exploration licenses in Mali (the "Licenses") known as the Falea project having a significant uranium resource and a copper and silver resource.

Falea Project

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Fireweed Drills 12.5 m of 11.17% Zinc including 6.2 m of 15.84% Zinc at Boundary Main

Fireweed Drills 12.5 m of 11.17% Zinc including 6.2 m of 15.84% Zinc at Boundary Main

Fireweed Metals CORP. ("Fireweed" or the "Company") (TSXV: FWZ; OTCQB: FWEDF, formerly Fireweed Zinc Ltd.) is pleased to announce further results from the 2022 drill program at Macmillan Pass, Yukon, Canada (Map 1).

Highlights

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
Bold Ventures Issues Shares for Payment of Services by Investing News Network

Bold Ventures Issues Shares for Payment of Services by Investing News Network

Bold Ventures Inc. (TSXV:BOL) (the "Company" or "Bold") wishes to announce that, further to its press release of November 1, 2022, it has agreed to issue 109,091 common shares of the Company to Dig Media Inc., dba Investing News Network ("INN") in settlement of advertising services provided by INN to the Company pursuant to the Advertising Campaign Agreement dated October 31, 2022 for the period ending January 31, 2023 at a price of $0.11 per share, subject to regulatory approval

Bold Ventures management believes our suite of Battery, Critical and Precious Metals exploration projects are an ideal combination of exploration potential meeting future demand. Our target commodities are comprised of: Copper (Cu), Nickel (Ni), Lead (Pb), Zinc (Zn), Gold (Au), Silver (Ag), Platinum (Pt), Palladium (Pd) and Chromium (Cr). The Critical Metals list and a description of the Provincial and Federal electrification plans are posted on the Bold website here.

News Provided by ACCESSWIRE via QuoteMedia

Keep reading...Show less
Hispania Resources

Hispania Resources to Begin On-Site Preparations for Exploration Program at Las Herrerias, on the Puebla de la Reina Property, Spain

Hispania Resources Inc. (TSXV: ESPN) ("Hispania" or the "Company") wishes to inform shareholders that it is preparing for the exploration program to be carried out at Las Herrerias ("Las Herrerias"), on the Puebla de la Reina property, located in Extremadura, Spain. Management will be onsite in early February to meet with its geological team to review and visit local geological areas of interest on the property identified by the work carried out in 202122 by the company.

While in the region, company management will be meeting with additional firms that carry out geophysical and diamond drilling activities, with the objective of determining timing and scope for the upcoming work at Las Herrerias. Further, management intends to again meet with the regional Ministry and politicians, including the Mayor of Puebla de la Reina, as they did in July, 2022, to ensure all local stakeholders needs are met.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Power Nickel Announces Partnership With Fleet Space Technologies

Power Nickel Announces Partnership With Fleet Space Technologies

Proprietary "Exosphere" Approach To Enhance Exploration at Nisk Mining Project

Power Nickel Inc. (the "Company" or "Power Nickel") (TSX-V:PNPN)(OTCQB:CMETF)(Frankfurt:IVVI

News Provided by ACCESSWIRE via QuoteMedia

Keep reading...Show less
Los Andes Copper Announces Closing of C$10 Million Bought Deal Financing

Los Andes Copper Announces Closing of C$10 Million Bought Deal Financing

Los Andes Copper Ltd. (TSXV: LA) (OTCQX: LSANF) ("Los Andes" or the "Company") has announced today that it has closed its previously announced bought deal offering (the "Offering"). Pursuant to the Offering, Los Andes sold 800,000 common shares ("Common Shares") at a price of $12.55 per Common Share for aggregate gross proceeds of $10 million.

The Company intends to use the net proceeds of the Offering to advance the Vizcachitas Project, cover studies and drilling expenses and for working capital.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
PAN GLOBAL ANNOUNCES FULLY FUNDED 20,000-METER ESCACENA PROJECT DRILL PROGRAM

PAN GLOBAL ANNOUNCES FULLY FUNDED 20,000-METER ESCACENA PROJECT DRILL PROGRAM

  • Board of Directors approves 20,000-meter, multi-target drill program at the Escacena Project for 2023
  • Plan includes La Romana drilling expansion and resource delineation
  • Drilling underway at La Romana, Romana Deep, and Zarcita
  • La Romana metallurgical studies continuing

Pan Global Resources Inc. ("Pan Global" or the "Company") (TSXV: PGZ) (OTC: PGNRF) is pleased to announce that the Board of Directors of the Company has approved plans for a fully funded 20,000-meter drill program at the Company's flagship Escacena Project ("Escacena"). Escacena is located approximately 35 kilometers northwest of Seville on the Iberian Pyrite Belt in southern Spain a prolific volcanogenic massive sulphide (VMS) district and tier one mining jurisdiction with a number of significant producing copper and polymetallic mines.

Pan Global Resources Inc. logo (CNW Group/Pan Global Resources Inc.)

Pan Global's President and CEO Tim Moody noted: "Escacena has been the focus of Pan Global's exploration since the recent copper/tin/silver discovery at the La Romana target. To the end of 2022, we completed approximately 140 drill holes at La Romana with mineralization in almost every hole. Our 2023 plan is expected to include more than 50 additional drill holes at Escacena. This includes a 10-hole stepout and infill drill program at La Romana that is already underway targeting electromagnetic anomalies, further testing the continuity and potential down-dip extensions of the mineralization."

Catalysts for 2023 include:

  • Assay results from the ongoing exploration drilling at La Romana, the Romana Deep target (electromagnetic anomaly on the down-dip projection of the La Romana mineralization) and Zarcita target (located 4 km north of La Romana)
  • Gaining access to the west and east of La Romana to continue testing extensions of the geophysics target
  • Ongoing La Romana metallurgy testwork
  • Assay results from drilling on additional exploration targets

Mr. Moody added: "With a fully funded program for 2023, and three drill rigs currently operating on three targets at La Romana, Romana Deep, and Zarcita, plus exploration advancing on a number of other targets, we are well set up for an exciting year ahead at Escacena."

Annual incentive grant approved

The Pan Global Board of Directors has approved grants under the Company's shareholder-approved Omnibus Equity Incentive Compensation Plan (the "Plan") of a total of 2.165 million incentive stock options; 0.55 million Restricted Share Units (RSUs); and 0.65 million Deferred Share Units (DSUs) to officers, directors, employees, and consultants to the Company.

The incentive stock option entitles the holder to purchase the equivalent number of common shares of the Company at a price of $0.44 per common share for a period of five years from the date of grant. The options will vest as follows: 25% on grant, followed by additional 25% on each of 6-month, 12-month, and 18-month anniversaries from date of grant. The RSUs and DSUs will vest over two years from the effective date of grant, with one-third vesting 12 months after the effective date, and one-third vesting on each of the 18-month and 24-month anniversaries.

About the Escacena Project

The Escacena Project comprises a large, contiguous, 5,760-hectare land package controlled 100% by Pan Global in the east of the Iberian Pyrite Belt. The project is located near operating mines at Las Cruces and Riotinto and is immediately adjacent to the former Aznalcóllar and Los Frailes mines where Minera Los Frailes/Grupo Mexico is in the final permitting stage with mining anticipated to restart in late 2023. The Escacena Project hosts the La Romana copper-tin discovery and a number of other prospective targets, including Zarcita, Hornitos, La Jarosa, Romana Deep, Bravo, Barbacena, El Pozo, and San Pablo.

Pan Global Resources Inc. is actively engaged in base and precious metal exploration in southern Spain and is pursuing opportunities from exploration through to mine development. The Company is committed to operating safely and with respect to the communities and environment where we operate.

On behalf of the Board of Directors

www.panglobalresources.com

Statements which are not purely historical are forward-looking statements, including any statements regarding beliefs, plans, expectations or intentions regarding the future. It is important to note that actual outcomes and the Company's actual results could differ materially from those in such forward-looking statements. The Company believes that the expectations reflected in the forward-looking information included in this news release are reasonable but no assurance can be given that these expectations will prove to be correct and such forward-looking information should not be unduly relied upon. Risks and uncertainties include, but are not limited to, economic, competitive, governmental, environmental and technological factors that may affect the Company's operations, markets, products and prices. Readers should refer to the risk disclosures outlined in the Company's Management Discussion and Analysis of its audited financial statements filed with the British Columbia Securities Commission.

The forward-looking information contained in this news release is based on information available to the Company as of the date of this news release. Except as required under applicable securities legislation, the Company does not intend, and does not assume any obligation, to update this forward-looking information.

NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

Cision View original content to download multimedia: https://www.prnewswire.com/news-releases/pan-global-announces-fully-funded-20-000-meter-escacena-project-drill-program-301733072.html

SOURCE Pan Global Resources Inc.

News Provided by PR Newswire via QuoteMedia

Keep reading...Show less

Latest Press Releases

Related News

×