Precipitate Coordinates Sale of Everton’s Restricted Shares to Strategic New Investor Group
Page 1 of 2
Precipitate Coordinates Sale of Everton’s Restricted Shares
to Strategic New Investor Group
Vancouver, B.C. – January 27, 2020 - Precipitate Gold Corp. (“Precipitate” or the “Company”) (TSXV: PRG) is
pleased to announce it has facilitated the sale and transfer of 4.5 million common shares of the Compa ny
previously registered to Everton Resources (the “Ev erton Shares”) and transferred and re-registered th e
shares into the names of individuals making up a strategic new shareholder group (the “Purchaser”).
Jeffrey Wilson, President & CEO, stated, "We are pl eased to facilitate this sale and transfer of share s from
Everton Resources to a strategic new investor group , who are highly reputable mineral industry princip als
with impressive recent track records for success. T he opportunity to transfer and place a substantial block
of the Company’s shares into the hands of an incomi ng new investor group who recognize the long term
investment opportunity presented by the Company, it s projects, and near term exploration potential, is
highly beneficial to the Company and its shareholde rs. We thank Everton and its management for working
with us to complete this mutually beneficial transa ction and look forward to advancing the projects an d
continuing to add value for all shareholders.”
As reported in the Company’s news release dated October 24, 2018 , as part of the purchase terms of the
acquisition of a 100% interest in all of Everton Re sources’ Dominican Republic exploration concessions ,
Precipitate delivered to Everton 7.0 million common shares of the Company with certain re-sale restrictions
prohibiting the re-sale of those shares for staged periods up to three (3) years from the closing of t he
acquisition transaction. In consideration for Everton agreeing to sell and transfer 4.5 million of its restricted
shares of Precipitate to the Purchaser, the Company agreed to remove the re-sale restrictions on Everton’s
next 700,000 common shares of Precipitate.
In transferring and re-registering the 4.5 million common shares of Precipitate to the new shareholder
group, the Company agreed to amend the re-sale rest riction on the re-registered shares such that 1.5
million of the Purchasers shares will be free-tradi ng at transfer, 1.5 million will be restricted from re-sale
for 3 months from the date of transfer, and 1.5 million will be restricted from re-sale for 9 months from the
date of transfer.
About Precipitate Gold:
Precipitate Gold Corp. is a mineral exploration com pany focused on exploring and advancing its mineral
property interests in the Pueblo Viejo Mining Camp and Tireo Gold Trend of the Dominican Republic.
Precipitate is also actively evaluating additional high-impact property acquisitions with the potentia l to
expand the Company's portfolio and increase shareholder value.
Additional information can be viewed at the Company’s website www.precipitategold.com .
TSX VENTURE: PRG | www.precipitategold.com
625 Howe Street, Suite 1020, Vancouver, BC, V6C 2T6
Toll free: 855 558 0335
Direct: 604 558 0335
Page 2 of 2
On Behalf of the Board of Directors of Precipitate Gold Corp.,
“Jeffrey Wilson”
President & CEO
For further information, please contact:
Tel: 604-558-0335 Toll Free: 855-558-0335 [email protected]
Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies
of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This press release may contain "forward-looking information" within the meaning of applicable Canadian securities legislation. All statements, other
than statements of historical fact, included herein are forward looking information. Generally, forward-looking information may be identified by the
use of forward-looking terminology such as "plans", "expects" or "does not expect", "proposed", "is expected", "budget", "scheduled", "estimates",
"forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such w ords and phrases, or by the use of words or
phrases which state that certain actions, events or results may, could, would, or might occur or be ac hieved. This forward-looking information
reflects Precipitate Gold Corp.’s (“Precipitate” or the “Company”) current beliefs and is based on information currently available to Company and on
assumptions it believes are reasonable. Forward-loo king information is subject to known and unknown ri sks, uncertainties and other factors that
may cause the actual results, level of activity, performance or achievements of Precipitate to be materially different from those expressed or implied
by such forward-looking information. Such risks and other factors may include, but are not limited to: the exploration concessions may not be
granted on terms acceptable to the Company, or at a ll; general business, economic, competitive, political and social uncertainties; the concessions
acquired by the Company may not have attributes similar to those of surrounding properties; delay or failure to receive governmental or regulatory
approvals; changes in legislation, including environmental legislation affecting mining; timing and av ailability of external financing on acceptable
terms; conclusions of economic evaluations; and lac k of qualified, skilled labour or loss of key indiv iduals. Although Precipitate has attempted to
identify important factors that could cause actual results to differ materially from those contained i n forward-looking information, there may be
other factors that cause results not to be as antic ipated, estimated or intended. Accordingly, readers should not place undue reliance on forward-
looking information. Precipitate does not undertake to update any forward-looking information, except in accordance with applicable securities
laws.