19:23:09 EDT Tue 07 May 2024
Enter Symbol
or Name
USA
CA



Gitennes Exploration Inc (2)
Symbol GIT
Shares Issued 56,177,122
Close 2023-05-17 C$ 0.025
Market Cap C$ 1,404,428
Recent Sedar Documents

Gitennes to sell Gaspe properties to Canadian Gold

2023-05-18 16:12 ET - News Release

Mr. Ken Booth reports

GITENNES SELLS ITS GASPE, QUEBEC PROPERTIES AND CONTINUES SEARCH FOR ADDITIONAL CRITICAL MINERAL PROPERTIES

Gitennes Exploration Inc. has executed a mining claim sales agreement to sell its three properties located in Gaspe, Que., to Canadian Gold Resources Ltd. The company also continues its search for additional critical mineral properties to add to its Blue Ice rare earth element, niobium, tantalum property.

The sale of the properties is subject to the terms and conditions of the sale agreement. The transaction's purchase price for the properties is $250,000 in value of the common shares of Canadian Gold at the time of the public listing of Canadian Gold. The transaction and the transfer of title to the properties to Canadian Gold are conditional upon Canadian Gold completing an initial public offering within 14 months of the signature date of the sale agreement. Should Canadian Gold fail to complete an IPO within the IPO deadline, the sale agreement shall be terminated, and Gitennes shall have no further obligations to transfer the properties to Canadian Gold.

About Gitennes Exploration Inc.

Gitennes is in the business of exploring for and advancing mineral properties with a focus on high-grade gold. The company currently has three properties in the Chapais-Chibougamau area of Quebec: New Mosher, JMW and Maxwell, and three properties in the Gaspe region of Quebec: VG Boulder, Serpenphior and Puma, the Snowbird gold property in British Columbia, and a 1.5-per-cent net smelter return royalty on the 18-million-ounce Urumalqui silver project in Peru. All properties are 100 per cent owned by Gitennes except for New Mosher, which is under option, and Gitennes can earn an initial 70 per cent and has the right to increase its ownership to 85 per cent. The Snowbird property has been optioned to a gold exploration company.

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