Allegiant Gold Announces Debt Settlement
Allegiant Gold Announces Debt Settlement
Vancouver, British Columbia / October 6, 2020 - Allegiant Gold Ltd. (“ Allegiant” or the
“Company”) (AUAU: TSX-V) (AUXXF: OTCQX) is pleased to announce that it has entered into a debt
settlement agreement (“Debt Settlement”) with Orea Mining Corp. (“Orea”) to extinguish the Company's
outstanding loan owing to Orea in exchange for the issuance of common shares ("Shares") of the Company.
An aggregate of 3,201,766 Shares at a deemed price of $0.5 011 per Share are proposed to be issued to
settle $1,604,404.75 in debt owing to the creditor pursuant to this Debt Settlement.
The completion of the Debt Settlement is subject to the approval of the TSX Venture Exchange. All
securities issued pursuant to the Debt Settlement will be subject to a hold period of four months and one
day from the date of issuance, in accordance with applicable securities legislation.
ABOUT ALLEGIANT
Allegiant owns 100% of 10 highly-prospective gold projects in the United States, 6 of which are located in
the mining-friendly jurisdiction of Nevada. Four of Allegiant’s projects are farmed-out, providing for cost
reductions and cash-flow. Allegiant’s flagship, district-scale Eastside project hosts a large and expanding
gold resource and is located in an area of excellent infrastructure. Preliminary metallurgical testing
indicates that both oxide and sulphide gold mineralization at Eastside is amenable to heap leaching.
ON BEHALF OF THE BOARD
Peter Gianulis CEO
For more information contact:
Investor Relations
(604) 634-0970 or
1-888-818-1364
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of
the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Certain statements and information contained in this press release constitute "forward-looking statements"
within the meaning of applicable U.S. securities laws and “forward-looking information” within the
meaning of applicable Canadian securities laws, which are referred to collectively as "forward -looking
statements". The United States Private Securities Litigation Reform Act of 1995 provides a “safe harbor”
for cer tain forward -looking statements. Forward -looking statements are statements and information
regarding possible events, conditions or results of operations that are based upon assumptions about future
economic conditions and courses of action. All statements and information other than statements of
historical fact may be forward -looking statements. In some cases, forward -looking statements can be
identified by the use of words such as “seek”, “expect”, “anticipate”, “budget”, “plan”, “estimate”,
“continue”, “ forecast”, “intend”, “believe”, “predict”, “potential”, “target”, “may”, “could”,
“would”, “might”, “will” and similar words or phrases (including negative variations) suggesting future
outcomes or statements regarding an outlook. Such forward-looking statements are based on a number of
material factors and assumptions and involve known and unknown risks, uncertainties and other factors
which may cause actual results, performance or achievements, or industry results, to differ materially from
those anticipated in such forward-looking information. You are cautioned not to place undue reliance on
forward-looking statements contained in this press release. Some of the known risks and other factors
which could cause actual results to differ materially from thos e expressed in the forward -looking
statements are described in the sections entitled “Risk Factors” in Allegiant’s Listing Application, dated
January 24, 2018, as filed with the TSX Venture Exchange and available on SEDAR under Allegiant’s
profile at www.sedar.com. Actual results and future events could differ materially from those anticipated
in such statements. Allegiant undertakes no obligation to update or revise any forward-looking statements
included in this press release if these beliefs, estimates and opinions or other circumstances should change,
except as otherwise required by applicable law. The mineral resource figures referred to in this press
release are estimates and are therefore insufficient to enable an evaluation of the technical or econo mic
viability of the property, and no assurances can be given that mining of the Eastside property will be
technically viable or that the inferred levels of gold or silver will be produced. Such estimates are
expressions of judgment based on knowledge, mining experience, analysis of drilling results and industry
practices. Valid estimates made at any given time may significantly change when new information becomes
available. While Allegiant believes that the resource estimates included in this press release are well
established, by their very nature, resource estimates are imprecise and depend, to a certain extent, upon
statistical inferences which may ultimately prove unreliable. If such estimates are inaccurate or are
reduced in the future, this could have a material adverse impact on Allegiant.