Garibaldi Reports Property Expansion Purchase, Grants Options
GARIBALDI REPORTS PROPERTY
EXPANSION PURCHASE, GRANTS OPTIONS
TSXV: GGI
OTC: GGIFF
Frankfurt
: RQM
VANCOUVER, BC
,
April 25, 2022
/CNW/ - Garibaldi Resources (TSXV: GGI) (the "
Company
" or
"
Garibaldi
") is pleased to announce that it has entered into a mineral property purchase agreement
(the "
Agreement
") with G. Prior (the "
Vendor
"), whereby the Company agreed to acquire a 100%
interest in one mineral tenure (the "
Property
"), located in the Omineca Mining Division in the
Province of
British Columbia
comprising approximately 214.1217 hectares. As consideration for the
Property, the Company has agreed to pay: (i) a cash payment of
$1,561.81
(the "
Cash Payment
")
and (ii) the issuance of 25,000 common shares (the "
Shares
") of the Company, on the terms and
conditions as set forth in the Agreement. All shares are subject to a four month hold period, and the
agreement is subject to the approval of the TSX Venture Exchange.
The one additional mineral tenure is contiguous to Garibaldi's
Red Lion
project, a highly prospective
Cu-Au porphyry project in north-central B.C. Garibaldi plans to complete geochemical and
geophysical surveys this field season to advance the property to drill readiness. Please see more
details about the project at
Red Lion
| Garibaldi Resources Corp.
Company Grants Stock Options
Furthermore, Garibaldi has granted to consultants of the company a total of 100,000 incentive stock
options exercisable for up to five years at a price of
$1.00
per share pursuant to its stock option
plan. The stock option is subject to vesting provisions and released quarterly. The stock option
grant is subject to regulatory hold periods and approval of the TSX Venture Exchange.
About Garibaldi
Garibaldi Resources Corp. is an active Canadian-based junior exploration company focused on
creating shareholder value through discoveries and strategic development of its assets in some of
the most prolific mining regions in
British Columbia
and
Mexico
.
We seek safe harbor.
GARIBALDI RESOURCES CORP.
Per:
"Steve Regoci"
Steve Regoci
, President
Neither the TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for
the adequacy or the accuracy of this release
SOURCE
Garibaldi Resources Corp.
View original content:
http://www.newswire.ca/en/releases/archive/April2022/25/c8620.html
%SEDAR: 00004262E
For further information:
Adrian, [email protected], 604 2614466
CO: Garibaldi Resources Corp.
CNW 17:59e 25-APR-22