Gitennes closes $15,000 2nd tranche of financing

2021-12-31 11:43 ET – News Release

Mr. Ken Booth reports


Gitennes Exploration Inc. has closed a second tranche of its previously announced non-brokered private placement. The Company issued 2 50,000 flow-through shares (« FT Share ») priced at $0.06 per FT Share for gross proceeds of $15,000.

All securities issued pursuant to the Placement are subject to a four month and one day hold period in Canada. The Placement is subject to certain conditions including, but not limited to, the receipt of all necessary final approvals including the approval of the TSX Venture Exchange and any applicable securities regulatory authorities.

About Gitennes Exploration Inc.

Gitennes is in the business of exploring for and advancing mineral properties with a focus on high grade or large tonnage gold deposits . The Company currently has four gold properties in Quebec: JMW, Maxwell, New Mosher and Gaspe, the Snowbird gold property in British Columbia and a 1.5% Net Smelter Return royalty on the 18 million ounce Urumalqui Silver Project in Peru. JMW, Maxwell and Gaspe are 100% owned by Gitennes. New Mosher is under option and Gitennes can earn an initial 70% and has the right to increase its ownership to 85%. The Snowbird Property has been optioned to a gold exploration company.

This news release includes certain statements that constitute « forward-looking information » within the meaning of applicable Canadian securities laws and U.S. securities legislation, including the United States Private Securities Litigation Reform Act of 1995 . All statements, other than statements of historical fact, included herein, including, without limitation, statements concerning, the expected use of proceeds of the Placement, the Company’s expectation that will be successful in enacting its business plans, and the future business, operations and financial performance and condition of the Company, are forward-looking statements. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Often, but not always, forward-looking statements can be identified by words such as « will », « pro forma », « plans », « expects », « may », « should », « budget », « schedules », estimates », « forecasts », « intends », « anticipates », « believes », « potential » or variations of such words including negative variations thereof and phrases that refer to certain actions, events or results that may, could, would, might or will occur or be taken or achieved. In making the forward-looking statements in this news release, the Company has applied several material assumptions, including without limitation, the receipt of any necessary regulatory or corporate approvals in connection with the Placement, that there will be investor interest in future financings, that the COVID-19 global pandemic will not affect the ability of the Company to conduct its anticipated business plans, market fundamentals will result in sustained precious metals demand and prices, the receipt of any necessary permits, licenses and regulatory approvals in connection with the future exploration and development of the Company’s projects in a timely manner, the availability of financing on suitable terms for the exploration and development of the Company’s projects and the Company’s ability to comply with environmental, health and safety laws.