Gitennes Proposed Private Placement
Suite 410 –325 Howe Street, B.C. V6C 1Z7 Tel: 604-682-7970
email: [email protected] website: www.gitennes.com
Gitennes Proposed Private Placement
Vancouver, B.C., - October 26, 2021: Gitennes Exploration Inc. ("Gitennes" or the "Company") -
(TSXV – GIT) announces that it is conducting a non-brokered private placement (the
“Placement”) of up to 7,500,000 units (consisting of 3,000,000 non-flow-through units (“Units”)
priced at $0.05 per Unit and 4,500,000 flow-through shares (“FT Share”) priced at $0.06 per FT
Share). Each Unit consists of one non-flow-through common share and one common share
purchase warrant (“Warrant”). Each Warrant shall be exercisable to acquire one Common
Share (a “Warrant Share”) at an exercise price per Warrant Share of $0.10 for a period of 24
months following the Closing Date. Finder’s Fees of 8% cash and 8% warrants may be paid on
the financing.
All securities issued pursuant to the Placement are subject to a four month and one day hold
period in Canada. The Placement is subject to certain conditions including, but not limited to,
the receipt of all necessary approvals including the approval of the TSX Venture Exchange and
any applicable securities regulatory authorities.
About Gitennes Exploration Inc.
Gitennes is in the business of exploring for and advancing mineral properties with a focus on
high grade or large tonnage gold deposits. The Company currently has four gold properties in
Quebec: JMW, Maxwell, New Mosher and Gaspe, the Snowbird gold property in British
Columbia and a 1.5% Net Smelter Return royalty on the 18 million ounce Urumalqui Silver
Project in Peru. JMW, Maxwell and Gaspe are 100% owned by Gitennes. New Mosher is
under option and Gitennes can earn an initial 70% and has the right to increase its ownership to
85%. The Snowbird Property has been optioned to a gold exploration company.
For further information on the Company, readers are referred to the Company’s website at
www.gitennes.com and its Canadian regulatory filings on SEDAR at www.sedar.com.
Gitennes Exploration Inc.
"Ken Booth"
Ken Booth
President
For further information, please contact: Ken Booth
Phone: 604-682-7970
Email: [email protected]
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 news release.
Not for distribution to United States newswire services or for release, publication, distribution or dissemination
directly, or indirectly, in whole or in part, in or into the United States.
- 2 -
Cautionary Note Regarding Forward-Looking Information
This news release includes certain statements that constitute "forward-looking information" within the meaning of
applicable Canadian securities laws and U.S. securities legislation, including the United States Private Securities
Litigation Reform Act of 1995 . All statements, other than statements of historical fact, included herein, including,
without limitation, statements concerning, the expected use of proceeds of the Placement, the Company's
expectation that will be successful in enacting its business plans, and the future business, operations and financial
performance and condition of the Company, are forward-looking statements. Although the Company believes that
such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Often, but
not always, forward-looking statements can be identified by words such as "will", "pro forma", "plans", "expects",
"may", "should", "budget", "schedules", estimates", "forecasts", "intends", "anticipates", "believes", "potential" or
variations of such words including negative variations thereof and phrases that refer to certain actions, events or
results that may, could, would, might or will occur or be taken or achieved. In making the forward-looking statements
in this news release, the Company has applied several material assumptions, including without limitation, the receipt
of any necessary regulatory or corporate approvals in connection with the Placement, that there will be investor
interest in future financings, that the COVID-19 global pandemic will not affect the ability of the Company to conduct
its anticipated business plans, market fundamentals will result in sustained precious metals demand and prices, the
receipt of any necessary permits, licenses and regulatory approvals in connection with the future exploration and
development of the Company's projects in a timely manner, the availability of financing on suitable terms for the
exploration and development of the Company's projects and the Company's ability to comply with environmental,
health and safety laws.
The Company cautions investors that any forward-looking statements by the Company are not guarantees of future
results or performance, and that actual results could differ from those projected in any forward-looking statements
due to numerous factors including risks and uncertainties relating to exploration and development and actual results
of exploration activities; the ability of the Company to obtain additional financing; delays in obtaining governmental
and regulatory approvals (including TSX Venture Exchange approval of the Placement), permits or financing; the fact
that the Company's interests in certain of its mineral properties are only options and there is no guarantee that the
interests, if earned, will be certain; risks relating to epidemics or pandemics such as COVID–19, including the impact
of COVID–19 on the Company's business, financial condition and results of operations; the need to comply with
environmental and governmental regulations; potential defects in title to the Company's properties; changes in
general economic conditions; fluctuations in the prices of commodities and precious metals; operating hazards and
risks; environmental issues and liabilities; risks related to joint venture operations; and competition and other risks
and uncertainties of the mining industry. Readers should consider all of the information set forth herein and should
review the Company’s periodic reports filed from time-to-time with Canadian securities regulators. These reports and
the Company's filings are available on the Company's SEDAR profile at www.sedar.com.
Readers are cautioned not to place undue reliance on forward-looking statements. The forward-looking statements
contained in this news release are made as of the date of this news release and, except as otherwise required by
law, the Company undertakes no obligation to update the forward-looking statements contained herein, or to update
the reasons why actual results could differ from those projected in these forward-looking statements.