Stellar Africagold Announces Shares FOR Debt Settlement
STELLAR AFRICAGOLD ANNOUNCES SHARES FOR DEBT SETTLEMENT
VANCOUVER, BC – (The NewsWire – March 12, 2024) STELLAR AFRICAGOLD INC. (TSXV: SPX)
(the “Company” or “Stellar”) announces it has agreed to issue an aggregate 8,473,763 common shares
in the capital of the Company at a deemed price of $0.025 per s hare to settle approximately $211,845
in debt (the “Shares for Debt Settlement”) with arms-length creditors.
The board of directors and management of the Company believe th at the proposed Shares for Debt
Settlement is in the best interests of the Company because it allows the Company to preserve its limited
cash on hand for essential operations.
The Shares for Debt Settlement is subject to TSX Venture Exchange approval.
The settlement shares will be subject to a statutory four-month and one day hold period from the date
of issuance.
ABOUT STELLAR AFRICAGOLD INC.
Stellar AfricaGold Inc. is a Canadian precious metal exploratio n company listed on the TSX Venture
Exchange symbol TSX.V: SPX, the Tradegate Exchange TGAT: 6YP1 and the Frankfurt Stock
Exchange FSX: 6YP1.
The Company is head officed in Vancouver, BC and has a representative office in Casablanca, Morocco.
Stellar’s principal exploration project is its advancing gold d iscovery at the Tichka Est Gold Project in
Morocco.
The technical content of this press release has been reviewed a nd approved by M. Yassine Belkabir,
MScDIC, CEng, MIMMM, a Stellar director and a Qualified Person as defined in NI 43-101.
Stellar’s President and CEO J. François Lalonde can be contacte d at 514-994-0654 or by email at
Additional information is available on the Company’s website at www.stellarafricagold.com.
On Behalf of the Board
J. François Lalonde
President & Director
Neither the TSX Venture Exchange nor its Regulation Services Pr ovider (as that term is defined
in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy
of this release.
Disclaimer & Forward-Looking Statements:
This release contains certain "forward-looking information" under applicable Canadian securities laws
concerning the Arrangement. Forward-looking information reflects the Company’s current internal
expectations or beliefs and is based on information currently available to the Company. In some cases
forward-looking information can be identified by term inology such as "may", "will", "should", "expect",
"intend", "plan", "anticipate", "believe", "estimate", "projects", "potential", "scheduled", "forecast",
"budget" or the negative of those terms or other co mparable terminology. Many of these assumptions
are based on factors and events that are not within the control of the Company, and there is no
assurance they will prove to be correct or accurate. Risk factors that could cause actual results to differ
materially from those predicted herein include, without limitation: that the business prospects and
opportunities of the Company will not proceed as antic ipated; changes in the global prices for gold or
certain other commodities (such as diesel, aluminum and electricity); changes in U.S. dollar and other
currency exchange rates, interest rates or gold lease rates; risks arising from holding derivative
instruments; the level of liquidity and capital resources; access to capital markets, financing and interest
rates; mining tax regimes; ability to successfully integrate acquired assets; legislative, political or
economic developments in the jurisdictions in which the Company carries on business; operating or
technical difficulties in connection with mining or development activities; laws and regulations governing
the protection of the environment; employee relations; availability and increasing costs associated with
mining inputs and labour; the speculative nature of exploration and development; contests over title to
properties, particularly title to undeveloped properties; and the risks involved in the exploration,
development and mining business. Risks and unknowns inherent in all projects include the inaccuracy
of estimated reserves and resources, metallurgical recoveries, capital and operating costs of such
projects, and the future prices for the relevant minerals.