Sylla Gold Amends Share Purchase Agreement to Acquire District Scale Land Package in Namibian Gold Belt
Sylla Gold Amends Share Purchase
Agreement to Acquire District Scale Land
Package in Namibian Gold Belt
Bedford, Nova Scotia--(Newsfile Corp. - June 13, 2024) -
Sylla Gold Corp. (TSXV: SYG) ("Sylla" or
the "Company")
announces that it has amended the share purchase agreement (the "
Agreement
")
with Namibia Critical Metals. ("NMI") to acquire four gold properties located in Namibia as announced
on March 4, 2024. Under the agreement, Sylla is to acquire NMI's 95% interest in its Namibian
subsidiaries that own the rights, title and interest to the Grootfontein, Erongo, Otjiwarongo, and Kaoko
licences, (Figure 1) and certain associated assets.
Figure 1
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Terms of the Agreement
As consideration for the Acquisition, the Company shall: (i) issue the Vendor 3,000,000 common shares
(each, a "
Common Share
") in the capital of the Company at a deemed issuance price of $0.05 per
Common Share; and (ii) shall pay an aggregate cash payment of $100,000 to the Vendor. The closing
date of the transaction has been amended and extended to no later than August 31, 2024. All other
terms of the agreement remain in full force and effect.
The Acquisition is subject to the satisfaction (or waiver) of a number of conditions precedent, including,
but not limited to receipt of all regulatory approvals and the acceptance of the TSX Venture Exchange.
All securities issued pursuant to the Acquisition will be subject to a statutory hold period of four months
and one day from the issuance thereof, as applicable, in accordance with applicable securities laws.
Qualified Person Statement
All scientific and technical information contained in this news release was prepared and approved by
Gregory Isenor, P.Geo., Director of Sylla Gold Corp. who is a Qualified Person as defined in NI 43-101.
For more information, please contact:
Regan Isenor
President and Chief Executive Officer
Tel:
(902) 233-4381
Email:
Neither 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
release.
This news release contains forward-looking information which is not comprised of historical facts.
Forward-looking information is characterized by words such as "plan", "expect", "project", "intend",
"believe", "anticipate", "estimate" and other similar words, or statements that certain events or
conditions "may" or "will" occur. Forward-looking information involves risks, uncertainties and other
factors that could cause actual events, results, and opportunities to differ materially from those
expressed or implied by such forward-looking information. Factors that could cause actual results to
differ materially from such forward-looking information include, but are not limited to, changes in the
state of equity and debt markets, fluctuations in commodity prices, delays in obtaining required
regulatory or governmental approvals, and includes those risks set out in the Company's
management's discussion and analysis as filed under the Company's profile at
www.sedar.com
.
Forward-looking information in this news release is based on the opinions and assumptions of
management considered reasonable as of the date hereof, including that all necessary governmental
and regulatory approvals will be received as and when expected. Although the Company believes that
the assumptions and factors used in preparing the forward-looking information in this news release are
reasonable, undue reliance should not be placed on such information. The Company disclaims any
intention or obligation to update or revise any forward-looking information, other than as required by
applicable securities laws.
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