True Grit Announces Debt Settlement
NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. WIRE
SERVICES
TRUE GRIT RESOURCES LTD.
c/o Suite 404 – 999 Canada Place
Vancouver, BC V6C 3E2
Telephone: (604) 657-7004
NEWS RELEASE
TRUE GRIT ANNOUNCES DEBT SETTLEMENT
VANCOUVER, BC – May 2, 2017 - True Grit Resources Ltd. (“the Company”) (NEX: TGI.H) is
pleased to announce that it has entered into shares for debt agreements with certain creditors of the
Company, wherein the Company proposes to issue an aggregate of 10,000,000 common shares and
5,000,000 warrants at a deemed price of $0.05 per share in satisfaction of an aggregate of $500,000
owed by the Company to the creditors (the “Debt Settlement”). The warrants will be exercisable at
a price of $0.10 per share for a period of two years from closing.
All securities issued in the Debt Settlement will be subject to a statutory hold period expiring four
months and one day after closing. Completion of the Debt Settlement is subject to a number of
conditions, including, without limitation, receipt of all regulatory approvals, including approval of
the TSX Venture Exchange.
None of the securities issued in the De bt Settlement will be registered under the United States
Securities Act of 1933, as amended (the ”1933 Act”), and none of them may be offered or sold in the
United States absent registration or an applicable exemption from the registration requirements of
the 1933 Act. This news release shall not constitute an offer to sell or a solicitation of an offer to buy
nor shall there be any sale of the securities in any state where such offer, solicitation, or sale would
be unlawful.
ON BEHALF OF THE BOARD
TRUE GRIT RESOURCES LTD.
“Byron Coulthard”
Byron Coulthard
President, CEO and director
For further information, please contact Byron Coulthard at (604) 657-7004.
Disclaimer for Forward-Looking Information
Certain statements in this press release related to the Debt Settlement and the securities issuable thereunder
are forward-looking statements and are prospective in nature. Forward-looking statements are not based on
historical facts, but rather on curre nt expectations and projections abou t future events, and are therefore
subject to risks and uncertainties which could cause actual results to differ materially from the future results
expressed or implied by the forward-looking statements. These statements generally can be identified by the
use of forward-looking words such as “may”, “should”, “will”, “could ”, “intend”, “estimate”, “plan”,
“anticipate”, “expect”, “believe” or “continue”, or the negative thereof or similar variations. Forward-looking
statements in this news release include statements regarding the Debt Settlement, resale restrictions relating
to the securities to be issued and receipt of the approval of the TSX Venture Exchange. Such statements are
qualified in their entirety by the inherent risks and uncertainties surrounding the Company’s ability to
complete the Debt Settlement, including the risk that the Debt Settlement may not be completed as expected
or at all, that the TSX Venture Exchange may not approve the Debt Settlement and such other factors beyond
the control of the Company. Such forward looking statements should therefore be construed in light of such
factors, and the Company is not under any obligation, and expressly disclaims any intention or obligation, to
update or revise any forward looking statements, whether as a result of new information, future events or
otherwise.
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 news
release.