Stellar Africagold Share Consolidation and Update ON Tichka EST Project IN Morocco and Zuénoula, Côte D’Ivoire
STELLAR AFRICAGOLD SHARE CONSOLIDATION AND
UPDATE ON TICHKA EST PROJECT IN MOROCCO AND ZUÉNOULA, CÔTE D’IVOIRE
VANCOUVER, BC – (The NewsWire – May 17, 2024) STELLAR AFRICAGOLD INC. (TSXV: SPX)
(the “Company” or “Stellar”) announces that to facilitate future financing efforts follow ing positive
update from its earn-in partner in Morocco and the receipt of t he official decree from the Côte
d’Ivoire Authority for Stellar’s new exploration permit, Stellar will consolidate its capital structure.
Capital Consolidation
Stellar will be consolidating all of the issued and outstanding common shares ("Common Shares")
of the Company on the basis of one (1) post-consolidation Commo n Share for each ten (10) pre-
consolidation Common Shares (the "Consolidation").
The effective date and trading of the Common Shares on a post-C onsolidation basis on TSX
Venture Exchange (the “TSXV”) will be Friday, May 24, 2023. Th e Company's name and trading
symbol will remain unchanged.
New CUSIP for common shares: 85855B201
New ISIN for common shares: CA85855B2012.
The Consolidation is expected to result in the number of issued and outstanding Common Shares
being reduced from 120,657,960 pre-consolidation Common Shares to approximately 12,065,796
post-Consolidation Common Shares. The exercise or conversion pr ice of warrants and stock
options, and the number of Common Shares issuable thereunder wi ll also be proportionately
adjusted upon the completion of the Consolidation.
No fractional shares will be issued as a result of the Consolidation. All fractions of Common Shares
will be rounded down to the next lowest whole number. No cash consideration will be paid in respect
of fractional shares. The Consolidation is subject to the receipt of all required regulatory approvals,
including the approval of the TSXV.
It is anticipated that the capital consolidation will enhance o pportunities for Stellar to finance its
advancing Tichka Est gold project in Morocco and the recently granted Zuénoula exploration permit
in Côte d’Ivoire.
Zuénoula Gold Project Update
The Company’s wholly owned Côte d’Ivoire subsidiary, La Societé Aucrest SARL, received the final
Presidential Decree #PR0750 for the Zuénoula exploration permit from the Côte d’Ivoire
Department of Mines, Petroleum and Energy and the DRS for the 2 50,000 shares owed to TSX-V
listed Elemental Altus Royalties Corp. was released to Altus St rategies. (See news release dated
May 1, 2024)
Tichka Est Gold Project Update
Following a recent site visit by representatives of Morocco’s O ffice National des Hydrocarbures et
des Mines (ONHYM) the Company has received encouraging feedback from ONHYM with respect
to Stellar’s previously submitted updated exploration budget an d extended earn-in proposal. An
amended exploration budget and an extended earn-in proposal has been requested. The changes
requested by ONYHM are acceptable to Stellar and an amended pro posal will be re-filed in the
coming days. (See news releases January 24, 2023 and May 1, 2024)
About Stellar AfricaGold Inc.
Stellar AfricaGold Inc. is a Canadian precious metal exploration company listed on the TSX Venture
Exchange symbol TSXV: SPX, the Tradegate Exchange TGAT: 6YP1 a n d t h e F r a n k f u r t S t o c k
Exchange FSX: 6YP1.
Stellar’s exploration projects include its advancing gold discovery at the 82 square kilometre Tichka
Est Gold Project in Morocco for which an updated exploration budget and extended earn-in period
has been submitted to Morocco’s Office National des Hydrocarbures et des Mines (ONHYM) and
is pending approval, and the recently granted 395.8 square kilo meter Zuénoula Gold exploration
permit in Côte d’Ivoire.
The Company is head officed in Vancouver, British Columbia. The Company also has a
representative office in Casablanca, Morocco.
Stellar’s President and CEO J. François Lalonde can be contacted 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 Vent ure
Exchange) accepts responsibility for the adequacy or accuracy of this release.
Disclaimer & Forward-Looking Statements:
This release contains certain "forward-looking information" under applicable C anadian securities laws concerning the Arrangement. Forward-
looking information reflects the Company’s current internal expectations or be liefs and is based on information currently avail able to the
Company. In some cases, forward-looking information can be identified by terminology such as "may", "will", "should", "expect", "intend", "plan",
"anticipate", "believe", "estimate", "projects", "potential", "scheduled", "forecast", "budget" or the negative of those terms or other comparable
terminology. Many of these assumptions ar e based on factors and events that are not within the control of the Company, and ther e 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 consolidation of the common shares will not proceed as anticipated.