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., - December 5, 2023: Gitennes Exploration Inc. ("Gitennes" or the "Company")
- (TSXV – GIT) announces that it is conducting a non-brokered private placement (the
“Placement”) of up to 32,000,000 units (consisting of 17,000,000 non-flow-through units (“Units”)
priced at $0.015 per Unit and 15,000,000 flow-through units (“FT Units”) priced at $0.02 per FT
Unit). 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 $0.05 for a period of 24 months
following the Closing Date. Each FT Unit consists of one flow-through common share and one-
half common share purchase warrant (“FT Warrant”). Each whole FT Warrant shall be
exercisable to acquire one Common Share (a “FT Warrant Share”) at an exercise price per FT
Warrant of $0.05 for a period of 24 months following the Closing Date. Finder’s Fees may be paid
on the financing.
The gross proceeds from the Units are to be used for general working capital purposes but will
not be used for Investor Relations. The gross proceeds from the FT Units are intended to be
used to incur Canadian Exploration Expenses that are “flow-through mining expenditures” (as
such terms are defined in the Income Tax Act (Canada)) on the Company’s Quebec projects.
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 The Company
currently has three properties in the Sept Iles region of Quebec where the Company is exploring
for nickel, REE, niobium and tantalum and three gold properties in the Chapais-Chibougamau
area of Quebec: New Mosher, JMW and Maxwell and a 1.5% Net Smelter Return royalty on the
18-million-ounce Urumalqui Silver Project in Peru. The Company recently sold its gold properties
in the Gaspe Region of Quebec. All properties are 100% owned by Gitennes except for New
Mosher which is under option and Gitennes can earn an initial 70% and has the right to increase
its ownership to 85%.
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.sedarplus.ca.
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.
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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.
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, 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; 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.