Element79 Gold Announces Engagement of Marketing Providers and Confirms Shares for Debt Settlement
Element79 Gold Announces Engagement of Marketing Providers
and Confirms Shares for Debt Settlement
Vancouver, B.C. March 2, 2023 – Element79 Gold Corp (CSE:ELEM) (OTC:ELMGF) (FSE:7YS)
("Element79 Gold", the "Company") announces that it has engaged new marketing providers as contracts
with its former service providers are completing.
Sidis Holdings Ltd. and Guerrilla Capital
Sidis Holdings Ltd. (“Sidis”) is an online advertising broker providing targeted digital media geared to the
European, Chinese and U.S. markets. They select from the leading media channels and platforms to offer the
best possible reach and engagement rates.
Guerilla Capital Ltd.
Guerilla C apital Ltd. (“GCL”) utilizes Dynamic, High Impact, High Volume messaging across over 50+ investing
groups to ensure millions of investors are targeted and nurtured daily.
"The joining of Sidis and GCL to our evolving roster of first-rate providers offers further avenues to communicate
with major market participants in China, Europe and North America, and to amplify the Company's presence
on the radar of prominent investors around the globe," remarked Mr. Tworek. "Element79 Gold is eager to
leverage the multi- faceted capabilities of Sidis and GCL to expand investor awareness worldwide and
accelerate the tempo of our corporate development strategy."
Details of the Engagements
GCL has been engaged for an initial term of 3 months at a rate of $10,000 per month, payable in shares of the
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ompany priced at $0.10 for the first two months and the closing price of the Company’s shares on the 15 th
date of the third month and every month thereafter if extensions are agreed to in writing.
Sidis has been engaged for an initial contract term of 3 months for $600,000 paid in shares of the company;
$300,000 at $0.10 and $300,000 in to be paid in shares priced on the closing date 60 days after first payment
date. Extensions of this contract will be possible through negotiations and agreement between the parties.
D
ebt for Shares settlement
The Company has agreed to settle an aggregate of $981,106.86 of indebtedness of the Company with various
arm’s length and non-arm’s length creditors through the issuance of an aggregate of 9,811,069 common shares
("Debt Shares"). The Debt Shares are being issued $0.10, as approved by the Canadian Securities Exchange
("CSE") on March 1, 2023. This settlement includes the payments for the first portions of both the Sidis and
GCL engagements, settlement of several items of aged accounts payable, and a transfer of shares to Crescita
Capital for its continued periodic investments in the Company. 5,811,069 of the Debt Shares issued pursuant
to the debt conversion are subjected to a four (4) month hold period; 4,000,000 of the shares issued to Crescita
Capital will be freely trading per the terms of its Investment and Advisory Agreement with the Company.
All $ amounts herein are in Canadian dollars unless otherwise noted.
About Element79 Gold
Element79 Gold is a mining company focused on gold, silver and associated metals. Element79 Gold’s main
focus is on two core properties: developing its previously -producing, high -grade gold and silver mine, the
Lucero project located in Arequipa, Peru, with the intent to bring it back into production in the near term; and
its flagship Maverick Springs Project located in the famous gold mining district of northeastern Nevada, USA,
between the Elko and White Pine Counties. Maverick Spr ings hosts a 43 -101-compliant, pit -constrained
mineral resource estimate reflecting an inferred resource of 3.71 million ounces of gold equivalent “AuEq” at a
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grade of 0.92 g/t AuEq (0.34 g/t Au and 43.4 g/t Ag) with an effective date of Oct. 19, 2022 (see news release
October 20, 2022, available on SEDAR). The acquisition of the Maverick Springs Project also included a
portfolio of 15 properties along the Battle Mountain trend in Nevada, which are non-core to its primary business
focus. In British Columbia, Element79 Gold has executed a Letter of Intent and funded a drilling program
pursuant to acquire a private company which holds the option to 100% interest of the Snowbird High- Grade
Gold Project, which consists of 10 mineral claims located in Central British Columbia, approximately 20km west
of Fort St. James. The Company also has an option to acquire 100% interest in the Dale Property , 90
unpatented mining claims located approximately 100 km southwest of Timmins, Ontario, Canada in the
Timmins Mining Division, Dale Township. The Company is analyzing the non-core Nevada projects, The Dale
Property and Snowbird Property for further merit of exploration, sale or spin- out. For more information about
the Company, please visit www.element79.gold
For
corporate matters, please contact:
James C. Tworek, Chief Executive Officer
Email: [email protected]
For investor relations inquiries, please contact:
Investor Relations Department
Phone: +1 (604) 200-3608
Email: [email protected]
C
autionary Note Regarding Forward Looking Statements
This press contains "forward‐looking information" and "forward-looking statements" under applicable securities
laws (collectively, "forward ‐looking statements"). These statements relate to future events or the Company's
future performance, business prospects or opportunities that are based on forecasts of future results, estimates
of amounts not yet determinable and assumptions of management made in light of management's experience
and perception of historical trends, current conditions and expected future developments. Forward-looking
statements include, but are not limited to, statements with respect to: the Company’s plans for its portfolio of
mining projects and properties; the Company’s business strategy; future planning processes; exploration
activities; the timing and result of exploration activities; capital projects and exploration activities and the
possible results thereof; any potential future cash flow and the timing thereof; acquisition opportunities; the
impact of acquisitions, if any, on the Company. Assumptions may prove to be incorrect and actual results may
differ materially from those anticipated. Consequently, forward-looking statements cannot be guaranteed. As
such, investors are cautioned not to place undue reliance upon forward-looking statements as there can be no
assurance that the plans, assumptions or expectations upon which they are placed will occur. All statements
other than statements of historical fact may be forward‐ looking statements. Any statements that express or
involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives or future
events or performance (often, but not always, using words or phr ases such as "seek", "anticipate", "plan",
"continue", "estimate", "expect", "may", "will", "project", "predict", "forecast", "potential", "target", "intend",
"could", "might", "should", "believe" and similar expressions) are not statements of historical fact and may be
"forward‐looking statements".
Actual results may vary from forward -looking statements. Forward- looking statements are subject to known
and unknown risks, uncertainties and other factors that may cause actual results to materially differ from those
expressed or implied by such forward-looking statements, including but not limited to: the duration and effects
of the coronavirus and COVID -19; risks related to the integration of acquisitions; actual results of exploration
activities; conclusions of economic evaluations; changes in project parameters as plans continue to be refined;
commodity prices; variations in ore reserves, grade or recovery rates; actual performance of plant, equipment
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or processes relative to specifications and expectations; accidents; labour relations; relations with local
communities; changes in national or local governments; changes in applicable legislation or application thereof;
delays in obtaining approvals or financing or in the completion of development or construction activities;
exchange rate fluctuations; requirements for additional capital; government regulation; environmental risks;
reclamation expenses; outcomes of pending litigation; limitations on insurance coverage as well as those
factors discussed in the Company’s other public disclosure documents, available on www.sedar.com. Although
the Company has attempted to identify important factors that could cause actual results to differ materially from
those contained in forward -looking statements, there may be other factors that cause results not to be as
anticipated, estimated or intended. The Company believes that the expectations reflected in these forward ‐
looking statements are reasonable, but no assurance can be given that these expectations will prove to be
correct and such forward ‐looking statements included herein should not be unduly relied upon. These
statements speak only as of the date hereof. The Company does not intend, and does not assume any
obligation, to update these forward-looking statements, except as required by applicable laws.
Source: E lement79 Gold
NEITHER THE CANADIAN SECURITIES EXCHANGE NOR ITS REGULATIONS SERVICES
PROVIDER HAVE REVIEWED OR ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR
ACCURACY OF THIS RELEASE.