Zodiac Gold Announces AGSM Results and Completion of Previously Announced Shares for Debt Settlement

Zodiac Gold Announces AGSM Results and Completion of Previously Announced Shares for Debt Settlement

Zodiac Gold Inc. (TSXV: ZAU) ("Zodiac Gold" or the "Company"), is pleased to announce the results of voting at its Annual General and Special Meeting of shareholders held on September 23, 2024 (the "AGSM").

Shareholders voted in favour of all items put forward by the Board of Directors and Management. David Kol, Mark Kol, Douglas Cater, Graham Warren and Michael Demeter were all elected as Directors of the Company. The shareholders appointed McGovern Hurley LLP, Chartered Professional Accountants, as auditor of the Company, approved the Company's Equity Incentive Plan and a shares for debt settlement, all as set out in the Company's management information circular dated August 13, 2024, which can be found on SEDAR+.

Shares for Debt Settlement

As previously announced on July 29, 2024, the Company has settled an aggregate of $215,555.50 owing to certain directors, officers and service providers of the Company by issuing a total of 2,155,555 Common Shares (the "Settlement Shares") to them at a price of $0.10 per share (the "Debt Settlement"). In accordance with TSX Venture Exchange ("TSXV") requirements, the issuance of certain of the Settlement Shares received disinterested shareholder approval. The issuance of the Settlement Shares was also approved by the disinterested members of the Board of Directors. Further details of the Debt Settlement are contained in the Company's management information circular dated August 13, 2024. All Settlement Shares are subject to a statutory hold period of four months and one day from the date of issuance.

Because insiders were issued Settlement Shares, the Debt Settlement is considered to be a "related party transaction" as defined under the policies of the TSXV and Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101"). The Company relied on exemptions from the minority shareholder approval and formal valuation requirements applicable to the related party transactions under sections 5.5(a) and 5.7(1)(a), respectively, of MI 61-101, as neither the fair market value of the Common Shares issued to the participating insiders nor the consideration received from them exceeds 25% of the Company's market capitalization.

About Zodiac Gold

Zodiac Gold Inc. (TSXV: ZAU) is a West-African gold exploration company focused on its flagship Todi Project situated in Liberia -- an underexplored, politically stable, mining-friendly jurisdiction hosting several large-scale gold deposits. Strategically positioned along the fertile Todi Shear Zone, Zodiac Gold is developing a district-scale gold opportunity covering a vast 2,316 km2 land package. The Todi project has undergone de-risking, showcasing proven gold occurrences at both surface and depth, with five drill-ready targets and high-grade gold intercepts.

For further information, please visit the Zodiac Gold website at www.zodiac-gold.com or contact:

David Kol,
President & CEO
info@zodiac-gold.com

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.

Forward Looking Information

This news release includes certain "forward-looking statements" within the meaning of Canadian securities legislation.

Forward-looking statements include predictions, projections, and forecasts and are often, but not always, identified by the use of words such as "seek", "anticipate", "believe", "plan", "estimate", "forecast", "expect", "potential", "project", "target", "schedule", "budget" and "intend" and statements that an event or result "may", "will", "should", "could" or "might" occur or be achieved and other similar expressions and includes the negatives thereof. All statements other than statements of historical fact included in this release, including, without limitation, statements regarding the Company's planned exploration programs and drill programs and potential significance of results are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements are based on a number of material factors and assumptions. Important factors that could cause actual results to differ materially from Company's expectations include actual exploration results, changes in project parameters as plans continue to be refined, results of future resource estimates, future metal prices, availability of capital, and financing on acceptable terms, general economic, market or business conditions, uninsured risks, regulatory changes, defects in title, availability of personnel, materials, and equipment on a timely basis, accidents or equipment breakdowns, delays in receiving government approvals, unanticipated environmental impacts on operations and costs to remedy same, and other exploration or other risks detailed herein and from time to time in the filings made by the Company with securities regulators. Although the Company has attempted to identify important factors that could cause actual actions, events, or results to differ from those described in forward-looking statements, there may be other factors that cause such actions, events, or results to differ materially from those anticipated. There can be no assurance that forward-looking statements will prove to be accurate, and accordingly readers are cautioned not to place undue reliance on forward-looking statements.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/224456

News Provided by Newsfile via QuoteMedia

ZAU:CC
The Conversation (0)
Zodiac Gold Announces New $1M Financing, and Amends Previously Announced Debt Settlement

Zodiac Gold Announces New $1M Financing, and Amends Previously Announced Debt Settlement

Zodiac Gold Inc. (TSXV: ZAU) ("Zodiac Gold" or the "Company"), a West-African gold exploration company, announces further to the Company's news releases dated November 20, 2024, and January 3, 2025, it has closed its private placement for gross proceeds of approximately C$123,000 with no further tranches closed. The Company will commence a new offering of units for C$0.07 per unit for aggregate gross proceeds of up to C$1,000,000 (the "New Financing").

In connection with the end of the previous financing and the commencement of the New Financing, the Company also intends to amend the exercise price of the 1,230,000 share purchase warrants issued pursuant to the previous financing from C$0.15 per share to C$0.12 per share. The proposed amendment is subject to the receipt of all necessary approvals from the TSX Venture Exchange ("TSXV").

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Zodiac Gold Inc. Announces High-Grade Channel Sample Results at the Todi Gold Project in Liberia

Zodiac Gold Inc. Announces High-Grade Channel Sample Results at the Todi Gold Project in Liberia

Zodiac Gold Inc. (TSXV: ZAU) ("Zodiac Gold" or the "Company"), a West-African gold exploration company, is pleased to announce channel sample results of 17m at 1.09 gt Au and 1.17m at 18.79 gt Au from the Alasala and Alasala South targets respectively. The targets are 3km apart (Figure 1) and are included in the Company's extensive pipeline of targets within its Mineral Exploration Licenses covering over 2,300km2.

The Company concluded a drilling program consisting of 8 holes at the Alasala target in October 2024 and reported results including 4.05m at 13.92 g/t (including 1.6m at 34.5 g/t Au), 7m at 2.23 g/t Au (including 1m at 12.65 g/t Au) and 4.25m at 0.99 g/t Au (including 0.7m at 5.25 g/t Au). Channel samples taken in the Lion Hill artisanal pit during the drilling program returned 6.05m at 9.06 g/t Au, including 1m at 46 g/t Au, reinforcing the high-grade potential of the Alasala target (press release dated October 28, 2024).

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Zodiac Gold Announces Closing of First Tranche of Non-Brokered Private Placement

Zodiac Gold Announces Closing of First Tranche of Non-Brokered Private Placement

Zodiac Gold Inc. (TSXV: ZAU) ("Zodiac Gold" or the "Company"), a West-African gold exploration company, is pleased to announce that, further to the Company's news release dated November 20, 2024, it has closed its first tranche of its previously announced private placement (the "Offering") for gross proceeds of approximately C$123,000 (the "First Tranche"). The net proceeds of the First Tranche will be used for exploration of the Company's Todi gold project and for working capital purposes.

Pursuant to the First Tranche closing of the Offering, the Company issued 1,230,000 units of the Company (each a "Unit") at a price of C$0.10 per Unit. Each Unit consists of one common share of the Company (each, a "Common Share") and one common share purchase warrant (a "Warrant"). Each Warrant will entitle the holder thereof to acquire one additional Common Share (a "Warrant Share") at a price of C$0.15 per Warrant Share until the date which is 24 months following the closing date of the First Tranche of the Offering.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Zodiac Gold Terminates Exclusivity Agreement with Mable and Fable Limited to Pursue Multiple Strategic Opportunities and Announces Up To C$500,000 Shareholder-Led Private Placement

Zodiac Gold Terminates Exclusivity Agreement with Mable and Fable Limited to Pursue Multiple Strategic Opportunities and Announces Up To C$500,000 Shareholder-Led Private Placement

Zodiac Gold Inc. (TSXV: ZAU) ("Zodiac Gold" or the "Company"), a West-African gold exploration company, announces that it has terminated the exclusivity agreement previously entered into with Mable and Fable Limited ("MFL") on September 26, 2024, due to MFL's failure to satisfy their funding obligations under the agreement.

By terminating the exclusivity agreement, the Company is now free to pursue multiple strategic opportunities (including partnerships, joint ventures and financings) that have emerged since the announcement of its recent iron ore discovery. Following that announcement, Zodiac Gold has received substantial interest from multiple parties regarding these high-potential assets. The Company intends to evaluate these opportunities with a view towards identifying how to best leverage its iron ore assets in one or more transactions that will maximize shareholder value. In parallel, Zodiac Gold intends to continue to build on the exploration success of its recently completed Alasala and Arthington drilling programs at its Todi Project.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Zodiac Gold Enters into Market-Making Services Agreement

Zodiac Gold Enters into Market-Making Services Agreement

Zodiac Gold Inc. (TSXV: ZAU) ("Zodiac Gold" or the "Company"), a West-African gold exploration company, ") is pleased to announce it has entered into a Market-Making Services Agreement (the "Agreement") with Velocity Trade Capital Ltd. ("Velocity Trade") on September 3, 2024, to provide market-making services in accordance with TSX Venture Exchange ("TSXV") policies and applicable laws. Velocity Trade will trade common shares in the capital of the Company (the "Common Shares") of the Company on the TSXV with the objective of maintaining a reasonable market and improving the liquidity of the Company's Common Shares.

Under the Agreement, Velocity Trade will receive compensation of CDN$6,500 per month, payable monthly in advance. The Agreement is for an initial term of two (2) months and automatically renews for one (1) month periods ("Additional Term") unless either party provides written notice of termination to the other party thirty (30) days prior to the end of the Additional Term. There are no performance obligations contained in the Agreement, and Velocity Trade will not receive Common Shares, stock options, or any other form of equity in the Company as compensation. Velocity Trade and the Company are arms-length parties, and Velocity Trade and its principals do not currently own or have any interest, directly or indirectly, in the securities of the Company, however, Velocity Trade and its clients may acquire an interest in the securities of the Company in the future.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Leocor Mining Begins Summer Exploration Program at the Baie Verte Copper-Gold Project, Newfoundland

Leocor Mining Begins Summer Exploration Program at the Baie Verte Copper-Gold Project, Newfoundland

(TheNewswire)

Leocor Mining Inc.

Vancouver, British Columbia TheNewswire - June 04, 2025 - Leocor Mining Inc. (the " Company " or " Leocor ") (CSE: LECR, OTCQB: LECRF; Frankfurt: LGO0) (formerly Leocor Gold Inc.), a junior resource company focussed on the exploration and development of precious metals  projects in Eastern Canada, is pleased to announce it has commenced a soil sampling program at the Baie Verte project ("The Project") a 2,002-ha contiguous gold-copper exploration package located on the north central coast of the island of Newfoundland in the province of Newfoundland and Labrador, Canada, has been completed.

News Provided by TheNewsWire via QuoteMedia

Keep reading...Show less
LaFleur Minerals Provides Swanson Gold Deposit and Beacon Mill Restart Update to Produce Gold and Announces Investor Call on June 5

LaFleur Minerals Provides Swanson Gold Deposit and Beacon Mill Restart Update to Produce Gold and Announces Investor Call on June 5

LaFleur Minerals Inc. (CSE: LFLR) (OTCQB: LFLRF) (FSE: 3WK0) ("LaFleur Minerals" or the "Company") is pleased to provide the results of its recent exploration programs, including an update on its diamond drilling and bulk sampling plans at its district-scale Swanson Gold Project ("Swanson"), positioned in the prolific Abitibi Gold Belt (Figure 1). The Company is also fast-tracking the restart of its 100%-owned, 750 tonne per day ("tpd") Beacon Gold Mill ("Beacon") in Val-d'Or, Québec, and has received significant interest from several groups for the purpose of financing the mill restart as well as to offtake material and support the ramp-up to full production with the goal to be generating cash flow by early 2026.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Triumph Gold Announces the Acquisition of the Coyote Knoll Silver-Gold Mineral Property - Located in Central Utah

Triumph Gold Announces the Acquisition of the Coyote Knoll Silver-Gold Mineral Property - Located in Central Utah

triumph gold Corp. (TSXV: TIG) (OTC Pink: TIGCF) (FSE: 8N6) ("triumph gold" or the "Company") is pleased to announce the acquisition of the Coyote Knoll Silver (Ag Gold (Au) Property, located in central Utah, approximately 40 km southwest of the prolific Tintic Mining District (Figure 1).

triumph gold has entered into an agreement to purchase the Coyote Knoll Silver-Gold property for the sum of $150,000USD and the issuance of one million common shares of the Company. Prior to one year from the date of purchase, one million common shares shall be issued to the seller; prior to two years from the date of purchase one million common shares will be issued; prior to three years from the date of purchase one million common shares shall be issued to the seller. Before four years from the date of purchase a three million dollar payment in cash or shares will be made to the seller.

News Provided by Newsfile via QuoteMedia

Keep reading...Show less
Halcones Precious Metals Provides Update on Polaris Gold Project, Antofagasta Region Chile

Halcones Precious Metals Provides Update on Polaris Gold Project, Antofagasta Region Chile

Halcones Precious Metals Corp. (TSX V: HPM) (the "Company" or "Halcones") is pleased to provide an update on progress at its Polaris Gold Project (the "Project" or "Polaris"). Halcones' geologists continue field work at Polaris in preparation for the initial drill program at the Project. Recent work has been primarily focused on detailed structural and alteration mapping and fine tuning the geologic understanding of mineralization controls. This improved geological interpretation will guide the forthcoming drill program, which will be the first drilling by the Company at the Polaris Project.

Halcones' focus has been on the Northwest section of the North Zone. The North Zone demonstrates a dense concentration of high-grade, outcropping gold samples over an area of at least 400 m by 250 m with many assays above 10 g/t gold (figure 1). The Company is planning an initial drill program of 8 holes to test the continuity of this vein and stockwork hosted mineralization at depth. Drilling will target near-surface mineralization with the holes planned to a depth of approximately 130m below surface. Follow-up drilling will be planned based on results.

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
Cartier Signs Agreement with Exploits Discovery To Option 100% of the Benoist, Fenton and Wilson Properties  

Cartier Signs Agreement with Exploits Discovery To Option 100% of the Benoist, Fenton and Wilson Properties  

Cartier Resources Inc. (″ Cartier ″ or the ″ Company ″) (TSXV: ECR; FSE:6CA) is pleased to announce the execution of an agreement (the ″ Agreement ″) with Exploits Discovery Corp. (CSE: NFLD) (″ Exploits ″) to option 100% of its interests in three groups of exclusive exploration rights, located in the Province of Québec, commonly referred to as: (a) the ″Wilson project″ located in Lebel-sur-Quévillon (the ″ Wilson Property ″); (b) the ″Fenton project″ located in Chapais (the ″ Fenton Property ″); and (c) the ″Benoist project″ located in Miquelon (the ″ Benoist Property ″), together the ″ Properties ″.

News Provided by GlobeNewswire via QuoteMedia

Keep reading...Show less
Pinnacle Reports High-Grade Gold-Silver on Surface and in Underground Workings at El Potrero Project

Pinnacle Reports High-Grade Gold-Silver on Surface and in Underground Workings at El Potrero Project

(TheNewswire)

Pinnacle Silver and Gold Corp.

VANCOUVER, BRITISH COLUMBIA TheNewswire - June 2, 2025 (TSXV: PINN, OTC: NRGOF, Frankfurt: P9J) Pinnacle Silver and Gold Corp. (" Pinnacle " or the " Company ") is pleased to announce that systematic sampling of the historic underground workings at the Pinos Cuates Mine on the El Potrero property in Durango, Mexico (see Figure 1) has resulted in the definition of a lens of high-grade gold and silver mineralization, with individual samples returning up to 37.3 gt gold (Au) and 346 gt silver (Ag).

News Provided by TheNewsWire via QuoteMedia

Keep reading...Show less

Latest Press Releases

Related News

×