Kestrel Gold – Completes Acquisition of 100% Interest in the QCM Property and Bernard Kreft announces acquisition of Common Shares
NEWS RELEASE
Kestrel Gold – Completes Acquisition of 100% Interest in the QCM Property
and Bernard Kreft announces acquisition of Common Shares
Calgary, AB, March 22, 2024: Kestrel Gold Inc. (“Kestrel” or the “Corporation”, TSX -V:
KGC) is pleased to announce that it has expedited the remaining cash payment and common share
issuances necessary for Kestrel to fully exercise the QCM Property Option Agreement , see
Kestrel’s December 15, 2020, news release. With the closing of this transaction Kestrel has earned
a 100% interest in the QCM Property from Bernard Kreft.
Rob Solinger, President and CEO of Kestrel, states: “We are pleased to have completed this
transaction which will allow Kestrel greater leeway in the advancement of the QCM Property .
Positive results from previous reverse circulation drilling by the Corporation at QCM, see Kestrel’s
April 23, 2022, and October 26, 2022, news releases,
https://www.kestrelgold.com/news/apri-23-2022-r2xzf
https://www.kestrelgold.com/news/oct-25-2022-e7yzr
combined with continued strength in the price of gold, gave Kestrel the confidence to accelerate
the cash payment and common share issuances to earn a 100% interest in QCM.”
Details of the t ransaction include a cash payment of $100,000 and the issuance of 2,500,000
Kestrel common shares at a price of $0.03 per share for aggregate consideration of $75,000 to
Bernard Kreft. Prior to the completion of the t ransaction, Mr. Kreft beneficially owned and
controlled, an aggregate of 10,260,000 c ommon shares, and 350,000 stock options representing
9.99% of the C orporation’s issued and outstanding common shares on an undiluted basis and
approximately 10.30% of the Corporation’s issued and outstanding common shares on a partially
diluted basis. Following the completion of the transaction, Mr. Kreft beneficially owns and
controls, an aggregate of 12,760,000 c ommon shares and 350,000 stock options, representing
approximately 12.14% of the C orporation’s issued and outstanding common shares on an
undiluted basis and approximately 12.43% of the Co rporation’s issued and outstanding common
shares on a partially diluted basis.
The common shares were acquired by Mr. Kreft pursuant to the QCM property option agreement
between Kestel and Mr. Kreft. Mr. Kreft has a long-term view of the investment and may acquire
additional securities of the Corporation either on the open market, through private acquisitions or
sell the shares on the open market or through private dispositions in the future depending on market
conditions, reformulation of plans and/or other relevant factors.
The common shares were acquired pursuant to Section 2.13 of National Instrument 45- 106
Prospectus and Registration Exemptions.
A copy of the Early Warning Report will be filed by Mr. Kreft and may be obtained from the
Corporation's SEDAR+ profile.
About Kestrel Gold
Kestrel Gold Inc. is an exploration company headquartered in western Canada and focused on the
Canadian Cordillera. We are earning a 100% interest in the QCM Property which is an orogenic
gold target located in the Manson-Germanson placer district and the Fireweed Property located in
the Babine Lake area, an advanced stage silver rich polymetallic epithermal target. Kestrel also
owns a 100% interest in the KSD Property which is an orogenic gold target located in the Yukon
portion of the Tintina Gold Belt. Kestrel is listed on the TSX Venture exchange under the symbol
KGC. Readers are encouraged to refer to the Corporation’s website “www.kestrelgold.com” for
further information.
Forward-Looking Statements
The information and statements in this news release contain certain forward-looking information.
This forward-looking information relates to future events or the Corporation’s future performance
including exploration activity that could take place on the Corporation’s properties or projects.
This forward-looking information is subject to certain risks and uncertainties and may be based on
assumptions that could cause actual results to differ materially from those anticipated or implied
in the forward-looking information. The Corporation’s forward-looking information is expressly
qualified in its entirety by this cautionary statement. Except as required by law, the Corporation
undertakes no obligation to publicly update or revise any forward-looking information.
NEITHER THE 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 RELEASE.
For further information contact:
Rob Solinger, President, and CEO
Office: (403) 816-2141
Email: [email protected]
Bernard Kreft
(250)-487-8808
Email: [email protected]