Outback Announces Signing of Definitive Agreement
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TSX.V: OZ | OTCQB: OZBKF | FSE: S600
FOR IMMEDIATE RELEASE May 9, 2024
NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S. WIRE SERVICES
OUTBACK ANNOUNCES SIGNING OF DEFINITIVE AGREEMENT
Vancouver, British Columbia – May 9, 2024 – Outback Goldfields Corp. (the “Company” or “Outback”)
(TSX.V: OZ) (OTCQB: OZBKF) is pleased to announce that further to its press release dated March 1, 2024
the Company has entered into a definitive share purchase agreement with S2 Resources Ltd. and one of
its subsidiaries (collectively, “S2”) whereby Outback will acquire (the “Transaction”) a subsidiary of S2
holding its prospective portfolio of gold projects in Finland. The consideration to be paid to S2 will consist
of a $1,500,000 cash payment and the issuance of $5,500,000 in common shares of Outback ( the
“Consideration Shares”). The Transaction remains subject to, among other things, Ou tback completing
the previously -announced $5,000,000 non-brokered private placement (the “ Offering”). The
Consideration Shares will be issued at deemed price equal to the price of the Offering.
“We are excited to be one step closer to closing the transformative acquisition of S2’s highly prospective
projects in the Central Lapland Greenstone Belt of Finland,” commented Chris Donaldson, Outback CEO.
“The projects we are acquiring are in a globally significant gold district hosting Agnico Eagle’s Kittilä Mine
which is Europe’s largest gold mine. Upon closing of the transaction, Outback will control ground which
hosts an important gold discovery, two separate joint ventures with Kinross Gold and Rup ert Resources
along with other 100% owned assets that are strategically significant.”
Further details regarding the Transaction are set out in the Company’s news release dated March 1, 2024.
About Outback
Outback is an exploration mining company that is acquiring a portfolio of highly prospective gold assets
in the Central Lapland Greenstone Belt of Finland.
Contact Information
For more information please contact:
Chris Donaldson, Chief Executive Officer and Director
Tel: (604) 813-3931 | Email: [email protected]
Completion of the Transaction is subject to a number of conditions, including but not limited to, TSXV
acceptance and if applicable, disinterested shareholder approval. Where applicable, the Transaction
cannot close until the required shareholder approval is obtained. There can be no assurance that the
Transaction will be completed as proposed or at all.
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Investors are cautioned that, except as disclosed in the management information circular or filing
statement to be prepared in connection with the Transaction, any information released or received with
respect to the Transaction may not be accurate or complete and should not be relied upon. Trading in the
securities of Outback should be considered highly speculative.
The TSXV has in no way passed upon the merits of the proposed transaction and has neither approved
nor disapproved the contents of this news release.
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.
Forward Looking Statements
This news release contains forward -looking statements or forward -looking information relating to the
future operations of the Company and other statements that are not historical facts. Forward -looking
statements in this news release include but are not limited to: obtaining the necessary approvals required
for the Transaction and the Offering; completion of the Transaction and the Offering and the timing
thereof; final terms of the Transaction and Offering; the benefits of the Transaction and the Offering; and
exploration activities.
Forward-looking statements are based on the reasonable assumptions, estimates, analyses and opinions
of management made in light of its experience and its perception of trends, current conditions and
expected developments, as well as other factors that management believes to be relevant and reasonable
in the circumstances at the date that such statements are made, but which may prove to be incorrect.
Management believes that the assumptions and expectations reflected in such forward -looking
statements are reasonable. Assumptions have been made regarding, among other things: the benefits of
the Transaction and the Offering; the Company’s ability to carry on exploration and development
activities; the timely receipt of required approvals; the price of metals; the integration of assets acquired
by the Company; and the Company’s ability to obtain financing as and when required and on reasonable
terms. Readers are cautioned that the foregoing list is not exhaustive of all factors and assumptions which
may have been used.
Forward-looking statements are subject to known and unknown risks, uncertainties and other factors that
may cause actual results to be materially different from those expressed or implied by such forward -
looking statements. Such risks, uncertainties and ot her factors include but are not limited to: the
Company’s early stage of development; the fluctuation of the price of metals; the availability of additional
funding as and when required; the speculative nature of mineral exploration and development; the timing
and ability to maintain and, where necessary, obtain necessary permits and licenses; the uncertainty in
geologic, hydrological, metallurgical and geotechnical studies and opinions; infrastructure risks, including
access to water and power; environment al risks and hazards; risks associated with negative operating
cash flow; and risks associated with dilution. For a further discussion of risks relevant to the Company, see
the Company’s other public disclosure documents.
Although management 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. There is no assurance that forward-looking
statements will prove to be accurate, as actual results and future events could differ materially from those
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anticipated in such forward-looking statements. Accordingly, readers should not place undue reliance on
forward-looking statements. The Company does not undertake to update any forward -looking
statements, except as, and to the extent required by, applicable securities laws.