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DLP Resources Announces Quotation on the OTC Market

Cranbrook, British Columbia–(Newsfile Corp. – October 25, 2021) – DLP Resources Inc. (TSXV: DLP) (the "Company") is pleased to announce that as of mid-October,…

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Cranbrook, British Columbia–(Newsfile Corp. – October 25, 2021) – DLP Resources Inc. (TSXV: DLP) (the “Company“) is pleased to announce that as of mid-October, 2021, its common shares have been quoted on the OTCQB Venture Market (“OTCQB“) in the United States (“U.S.”) under the symbol “DLPRF”. The Company’s common shares will continue to trade on the TSX Venture Exchange under the symbol “DLP”.

The OTCQB is the mid-tier OTC equity market, which lists primarily early-stage and developing companies in the U.S. and international markets. OTCQB companies must meet certain minimum reporting standards, pass a bid test, and undergo annual verification. The OTCQB Venture quality standards provide greater transparency and disclosure, along with enhanced technology features and regulation to improve the information accessibility and trading capability for investors.

Trading on the OTCQB will give the Company greater exposure and accessibility to its growing U.S. and global shareholder base and the Company is pleased to broaden its shareholder base further through the OTCQB platform.

About DLP Resources Inc.

DLP Resources Inc. is a mineral exploration company operating in Southeastern British Columbia, exploring for Base Metals and Cobalt. DLP is listed on the TSX-V (trading symbol “DLP”) and on the OTCQB (trading symbol “DLPRF”). Please refer to our web site www.dlpresourcesinc.com for additional information.

FOR FURTHER INFORMATION PLEASE CONTACT:

DLP RESOURCES INC.
Ian Gendall, President
Jim Stypula, Chief Executive Officer
Robin Sudo, Chief Financial Officer and Corporate Secretary
Telephone: 250-426-7808
Email: [email protected]
Email: [email protected]
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 release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/100696




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Ultra Resources Inc. Closes First Tranche of Private Placement for Gross Proceeds of C$3.6 Million

VANCOUVER, British Columbia, Dec. 07, 2021 (GLOBE NEWSWIRE) — Ultra Resources Inc. (TSX-V: ULT) (“Ultra Resources” or the "Company") is pleased…

VANCOUVER, British Columbia, Dec. 07, 2021 (GLOBE NEWSWIRE) — Ultra Resources Inc. (TSX-V: ULT) (“Ultra Resources” or the “Company”) is pleased to announce that it has closed the first tranche of its previously announced private placement (the “Private Placement”) for gross proceeds of C$3,626,899. The Company sold 7,005,148 flow-through units of the Company (each, a “FT Unit”) at a price of C$0.165 per FT Unit for gross proceeds of C$1,155,849 from the sale of FT Units, and 16,473,667 non-flow-through units of the Company (each, an “NFT Unit”) at a price of C$0.15 per NFT Unit for gross proceeds of C$2,471,050 from the sale of NFT Units.

Each FT Unit consists of one (1) common share of the Company issued as a “flow-through share” within the meaning of the Income Tax Act (Canada) (each, a “FT Share”), and one half of one common share purchase warrant (each whole warrant, a “Warrant”). Each NFT Unit consists of one common share of the Company (each, a “NFT Share”) and one half of one Warrant. Each Warrant will entitle the holder thereof to purchase one common share of the Company (each, a “Warrant Share”) at a price of C$0.25 per share for a period of twelve (12) months from their date of issue.

Proceeds from the sale of NFT Units will be used to fund the exploration of the Company’s Argentine and Ontario properties and for general working capital purposes.

Proceeds from the sale of FT Units will be used to incur “Canadian exploration expenses” as defined in subsection 66.1(6) of the Tax Act and “flow-through mining expenditures” as defined in subsection 127(9) of the Tax Act (“Qualifying Expenditures“). Such proceeds will be renounced to the subscribers with an effective date not later than December 31, 2021, in the aggregate amount of not less than the total amount of gross proceeds raised from the issue of FT Shares. Proceeds from the Offering will be used for to fund eligible exploration expenditures of the Company’s Georgia Lake and Forgan Lake projects in north-western Ontario.

Finder’s fees of C$242,889.46 were paid and 660,227 finder’s warrants were issued in connection with the Private Placement. Each finder’s warrant will entitle the holder thereof to purchase one common share of the Company at an exercise price of $0.25 for a period of twelve (12) months from the date of issuance. All securities issued in connection with the Private Placement are subject to a statutory hold period expiring four months and one day from issuance under applicable Canadian securities laws, in addition to such other restrictions as may apply under applicable securities laws of jurisdictions outside Canada. The private placement is subject to final approval by the TSX Venture Exchange.

The securities issued under the Private Placement have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the “1933 Act“), or under any state securities laws, and may not be offered or sold, directly or indirectly, or delivered within the United States or to, or for the account or benefit of, U.S. persons (as defined in Regulation S under the 1933 Act) absent registration or an applicable exemption from the registration requirements. This news release does not constitute an offer to sell or a solicitation to buy such securities in the United States.

ON BEHALF OF THE BOARD OF DIRECTORS

“Kiki Smith”
Kiki Smith, CFO

Ultra Resources is an exploration and development company with a focus on the acquisition and development of lithium, gold, and copper assets. The Company holds a brine lithium property in Argentina, and hard rock spodumene type lithium properties at the Georgia Lake / Forgan Lake area in northwestern Ontario, Canada. The Company also holds other gold and base metals properties in Argentina.

FOR FURTHER INFORMATION CONTACT:
For further information, please contact the Company at:
Attention: Kiki Smith
Telephone: 778 968-1176
Email: [email protected]
Website: www.ultraresourcesinc.com
or view the Company’s filings at www.SEDAR.com.

Cautionary Statement Regarding “Forward-Looking” Information
Some of the statements contained in this press release are forward-looking statements and information within the meaning of applicable securities laws. Forward-looking statements and information can be identified by the use of words such as “plans”, “expects”, “intends”, “is expected”, “potential”, “suggests” or variations of such words or phrases, or statements that certain actions, events or results “may”, “could”, “should”, “would”, “might” or “will” be taken, occur or be achieved. Forward-looking statements and information are not historical facts and are subject to a number of risks and uncertainties beyond the Company’s control. Actual results and developments are likely to differ and may differ materially, from those expressed or implied by the forward-looking statements contained in this news release. Accordingly, readers should not place undue reliance on forward-looking statements. The Company undertakes no obligation to update publicly or otherwise revise any forward-looking statements, except as may be required by law.

Neither TSX Venture Exchange nor its Regulations Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.







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Golden Lake Announces Additional Drill Hole Assay plus Correction to Today’s Earlier Press Release

VANCOUVER, BC / ACCESSWIRE / December 7, 2021 / Golden Lake Exploration Inc. (CSE:GLM)(OTCQB:GOLXF) ("GLM" or the "Company") wishes to report on an additional…

VANCOUVER, BC / ACCESSWIRE / December 7, 2021 / Golden Lake Exploration Inc. (CSE:GLM)(OTCQB:GOLXF) (“GLM” or the “Company”) wishes to report on an additional drill hole just received plus correct an error in the heading of today’s earlier news release regarding its Jewel Ridge project near the town of Eureka in Nevada. The additional hole, JR-21-29 DD, came back with a new high-grade intercept of 5.43 m @ 5.13 g/t Au & 1.5 g/t Ag. This hole is open to the north with the intercept section beginning at the 156.70-meter level.

Previously today additional assay results from six (6) holes from the 2021 diamond drill program were announced, however the heading reported an interval of 66 meters of 1.1 g/t gold which was in error. The actual interval was 4.24 m @ 1.10 g/t Au plus 21 g/t Ag.

Further drill hole assays remain pending.

Drilling Quality assurance and quality control statement

Procedures have been implemented to assure QA/QC of drill hole assaying being done at an ISO accredited assay laboratory. All intervals of drill holes are being assayed and samples have been securely shipped and received by Paragon Geochemical in Sparks, Nevada, with chain-of-custody documentation through delivery. Mineralized commercial reference standards and coarse blank standards are inserted every 20th sample in sequence. All results will be analyzed for consistency.

About the Jewel Ridge Property

The Jewel Ridge property is located on the south end of Nevada’s prolific Battle Mountain – Eureka trend, along strike and contiguous to Barrick Gold’s Archimedes/Ruby Hill gold mine to the north and Timberline Resources’ advanced-stage Lookout Mountain project to the south.

The property comprises 96 unpatented lode mining claims and 30 patented claims covering approximately 728 hectares (1,800 acres). The Jewel Ridge property contains several historic small gold mines. The Company’s focus is on Carlin-style disseminated gold deposits, the primary focus in the area since the late 1970s.

Nevada Carlin-type gold deposits (CTGD) have a combined endowment of more than 250 million ounces, which are concentrated (85 per cent) in only four trends or camps of deposits: Carlin, Cortez (Battle Mountain-Eureka), Getchell and Jerritt Canyon. The Company cautions that results on adjacent and/or nearby projects are not necessarily indicative of results on the Company’s property.

Qualified person

Golden Lake Exploration’s disclosure of a technical or scientific nature in this news release has been reviewed and approved by Garry Clark, P.Geo., who serves as a qualified person under the definition of National Instrument 43-101.

About Golden Lake Exploration Inc.

Golden Lake Exploration is a junior public mining exploration company engaged in the business of mineral exploration and the acquisition of mineral property assets. Its objective is to acquire, explore and develop economic precious and base metal properties of merit and to aggressively advance its exploration program on the Jewel Ridge property.

ON BEHALF OF THE BOARD

“Mike England”

Mike England, CEO & DIRECTOR

FOR FURTHER INFORMATION PLEASE CONTACT:

Telephone: 1-604-683-3995
TollFree:1-888-945-4770

Neither the Canadian Stock Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.

FORWARD-LOOKING STATEMENTS: This news release contains forward-looking statements, which relate to future events or future performance and reflect management’s current expectations and assumptions. Such forward-looking statements reflect management’s current beliefs and are based on assumptions made by and information currently available to the Company. Investors are cautioned that these forward looking statements are neither promises nor guarantees, and are subject to risks and uncertainties that may cause future results to differ materially from those expected. These forward-looking statements are made as of the date hereof and, except as required under applicable securities legislation, the Company does not assume any obligation to update or revise them to reflect new events or circumstances. All of the forward-looking statements made in this press release are qualified by these cautionary statements and by those made in our filings with SEDAR in Canada (available at WWW.SEDAR.COM).

SOURCE: Golden Lake Exploration Inc.

View source version on accesswire.com:
https://www.accesswire.com/676457/Golden-Lake-Announces-Additional-Drill-Hole-Assay-plus-Correction-to-Todays-Earlier-Press-Release








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Harte Gold Announces Granting of Initial Order under Companies’ Creditors Arrangement Act and Approval of DIP Financing Agreement

Harte Gold Announces Granting of Initial Order under Companies’ Creditors Arrangement Act and Approval of DIP Financing Agreement
Canada NewsWire
TORONTO, Dec. 7, 2021

TORONTO, Dec. 7, 2021 /CNW/ – HARTE GOLD CORP. (“Harte Gold” or the “Company”) (…

Harte Gold Announces Granting of Initial Order under Companies’ Creditors Arrangement Act and Approval of DIP Financing Agreement

Canada NewsWire

TORONTO, Dec. 7, 2021 /CNW/ – HARTE GOLD CORP. (“Harte Gold” or the “Company“) (TSX: HRT) (OTC: HRTFF) (Frankfurt: H4O) announces that the Ontario Superior Court of Justice (Commercial List) (the “Court“) has granted the Company’s application for an Initial Order under the Companies’ Creditors Arrangement Act (the “CCAA“).

Pursuant to the Initial Order, the Company has obtained protection from its creditors under the CCAA for an initial period expiring December 16, 2021 (the “Stay Period“), the maximum permitted under the CCAA. The Court also approved an initial advance of $400,000 to the Company under the DIP Financing Agreement, as defined below, and has appointed FTI Consulting Canada Inc. as Monitor (the “Monitor“) of the Company. While under CCAA protection, management of the Company will remain responsible for the day-to-day operation of the Company under the general oversight of the Monitor and supervision of the Court. 

As previously announced, in conjunction with the commencement of the CCAA Proceedings, Harte Gold has entered into a subscription agreement (the “Subscription Agreement“) with 1000025833 Ontario Inc. (the “Investor“), a wholly-owned indirect subsidiary of Silver Lake Resources Limited (“Silver Lake“) (ASX: SLR), pursuant to which the Investor, if it is the successful bidder at the conclusion of the SISP (defined below) and is approved by the Court, would become the sole shareholder of Company in a transaction which provides for the continuation of its business and operations as a going concern.

Also as previously announced, Harte Gold and the Investor have also entered into a loan agreement pursuant to which the Investor has agreed, subject to the terms and conditions contained therein, including Court approval, to loan up to $10.8 million (the “DIP Financing Agreement“) to the Company, to fund operations and the CCAA Proceedings. If approved by the Court, the DIP Financing Agreement will provide Harte Gold with the liquidity required to continue the operations of Sugar Zone Mine until closing of a transaction. Together, the Subscription Agreement and the DIP Financing Agreement demonstrate Silver Lake’s strong support of the Sugar Zone Mine and the restructuring process.  

The Investor is the lender to Harte Gold under the Amended and Restated Credit Agreement made as of August 28, 2020 with BNP Paribas (as amended to the date hereof, the “Credit Agreement“). The Subscription Agreement is a “credit bid” which provides for (1) payment in full of all claims ranking in priority to, or pari passu with, the amounts owing under the Credit Agreement; (2) payment in full of the properly perfected and secured obligations owing to AHG (Jersey) Limited under the Facility Agreement dated August 28, 2020 (the “Appian Facility“); and (3) the assumption of up to $7.5 million in trade accounts payable. The Subscription Agreement provides no recovery for other stakeholders ranking subordinate to the Appian Facility, including holders of of existing equity interests in the Company.

At a hearing scheduled for December 16, 2021, Harte Gold will seek the Court’s approval of the DIP Financing Agreement and a sale and investment solicitation process (“SISP”) and authority to use the Subscription Agreement as a “stalking horse” in the SISP in order to provide interested parties with the opportunity to submit superior proposals and to enable Harte Gold to determine the highest and best available transaction for the Company and its stakeholders.  Unless the successful bid at the conclusion of the SISP provides for significantly higher value than the Subscription Agreement, there will be no recovery for holders of existing equity interests in the Company. At the hearing on December 16, 2021, Harte Gold will also seek an extension of the Stay Period to March 31, 2022.

Earlier today, the Toronto Stock Exchange (“TSX“) suspended trading of Harte Gold’s common shares and has put the Company under delisting review under its expedited review process. The TSX has advised the Company that a meeting has been scheduled for December 15, 2021 to consider whether or not to delist the securities of the Company.

Additional Information

Further updates will be provided as appropriate.  A copy of the Initial Order and other information regarding the CCAA proceedings will be available on the Monitor’s website at http://cfcanada.fticonsulting.com/harte. Parties interested in participating in the SISP, should contact the Monitor at [email protected].

About Harte Gold Corp.

Harte Gold holds a 100% interest in the Sugar Zone mine located in White River, Canada. The Sugar Zone Mine entered commercial production in 2019. The Company has further potential through exploration at the Sugar Zone Property, which encompasses 81,287 hectares covering a significant greenstone belt. Harte Gold trades on the TSX under the symbol “HRT”, on the OTC under the symbol “HRTFF” and on the Frankfurt Exchange under the symbol “H4O”.

Cautionary note regarding forward-looking information:

This news release includes “forward-looking statements”, within the meaning of applicable securities legislation, which are based on the opinions and estimates of management and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements.  Forward-looking statements are often, but not always, identified by the use of words such as “seek”, “anticipate”, “budget”, “plan”, “continue”, “estimate”, “expect”, “forecast”, “may”, “will”, “project”, “predict”, “potential”, “targeting”, “intend”, “could”, “might”, “should”, “believe” and similar words suggesting future outcomes or statements regarding an outlook. Specific forward-looking statements in this press release include, but are not limited to, the Stay Period expiring on December 16, 2021; the Investor, if it is the successful bidder at the conclusion of the SISP and is approved by the Court, becoming the sole shareholder of Company in a transaction which provides for the continuation of its business and operations as a going concern; the Investor, subject to Court approval, providing the Company with the DIP Financing to fund operations and the CCAA Proceedings; the DIP Financing providing Harte Gold with the liquidity required to continue the operations of Sugar Zone Mine until closing of a transaction; the Company seeking the Court’s approval of the SISP and authority to use the Subscription Agreement as a “stalking horse” in the SISP at the hearing on December 16, 2021; there being no recovery for holders of existing equity interests in the Company unless the successful bid at the conclusion of the SISP provides for significantly higher value than the Subscription Agreement; the Company seeking an extension of the Stay Period to March 31, 2022 at the hearing on December 16, 2021; further updates being provided as appropriate; a TSX meeting on December 15, 2021 to consider whether or not to delist the securities of the Company; and the Company having further potential through exploration at the Sugar Zone Property. Forward-looking statements are necessarily based upon a number of estimates and assumptions including material estimates and assumptions related to the factors set forth below that, while considered reasonable by the Company as at the date of this press release in light of management’s experience and perception of current conditions and expected developments, are inherently subject to significant business, economic, and competitive uncertainties and contingencies. Known and unknown factors could cause actual results to differ materially from those projected in the forward-looking statements, and undue reliance should not be placed on such statements and information. Such risks and uncertainties include, but are not limited to, the Strategic Review Process failing to result in a transaction that provides value to the Company’s stakeholders; the Company being unable to secure sufficient financing to complete the Strategic Review Process; the Company being unable to continue as a going concern; the risk that the Company will not have adequate sources of funding to finance the Company’s operations in the near future; the risk that the Company will not be able to obtain sufficient financing for working capital, capital expenditures, debt service requirements, and general corporate or other purposes; the risk that the Company has insufficient assets to meet its liabilities or satisfy its creditors; the Company being able to attract and retain qualified candidates to join the Company’s management team and board of directors, risks associated with the mining industry, including operational risks in exploration, development and production; delays or changes in plans with respect to exploration or development projects or capital expenditures; the uncertainty of reserve estimates; the uncertainty of estimates and projections in relation to production, costs and expenses; the uncertainty surrounding the ability of the Company to obtain all permits, agreements, consents or authorizations required for its operations and activities; and health, safety and environmental risks, the risk of commodity price and foreign exchange rate fluctuations, the ability of Harte Gold to fund the capital and operating expenses necessary to achieve the business objectives of Harte Gold, the uncertainty associated with commercial negotiations and negotiating with contractors and other parties and risks associated with international business activities, as well as other risks and uncertainties which are more fully described in the Company’s Annual Information Form dated March 30, 2021, and in other filings of the Company with securities and regulatory authorities which are available on SEDAR at www.sedar.com. Due to the risks, uncertainties and assumptions inherent in forward-looking statements, prospective investors in securities of the Company should not place undue reliance on these forward-looking statements. Readers are cautioned that the foregoing list of risks, uncertainties and other factors are not exhaustive.  The forward-looking statements contained in this news release are made as of the date hereof and the Company undertakes no obligation to update publicly or revise any forward-looking statements or in any other documents filed with Canadian securities regulatory authorities, whether as a result of new information, future events or otherwise, except in accordance with applicable securities laws. The forward-looking statements are expressly qualified by this cautionary statement. The Toronto Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.

SOURCE Harte Gold Corp.







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