Mr. Michael Bennett reports
ALTAMIRA ANNOUNCES COMPLETION OF DECEMBER 2018 SALARY SETTLEMENT
Further to the announcement on Dec. 18, 2018, the TSX Venture Exchange has accepted for filing Altamira Gold Corp.'s proposal to issue 368,748 common shares at a deemed price of six cents per share to settle salary payments totalling $22,125 in respect of the month of December, 2018.
The company has issued the common shares, which are subject to a four-month-plus-one-day hold period in accordance with the policies of the TSX Venture Exchange and applicable securities law.
As Alan Carter, Michael Bennett and Michael O'Brien are directors and/or officers of the company, their participation in the issuance of 248,046 common shares pursuant to this arrangement in the month of December will constitute a related-party transaction within the meaning of Multilateral Instrument 61-101 (Protection of Minority Security Holders in Special Transactions). The transaction is exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 pursuant to Section 5.5(a) and Section 5.7(a) of that instrument.
About Altamira Gold Corp.
The company is focused on the exploration and development of gold deposits within western-central Brazil. The company holds 12 projects comprising approximately 200,000 hectares, within the prolific Juruena gold belt, which historically produced an estimated seven million to 10 million ounces of placer gold. The company's advanced Cajueiro project has National Instrument 43-101-compliant resources of 8.64 million tonnes of 0.78 gram per tonne gold (for 214,000 ounces) in the indicated resource category and 9.53 million tonnes of 0.66 g/t Au (for 204,000 ounces) in the inferred resource category and an additional 1.37 million tonnes of 1.61 g/t Au in oxides (for 79,000 oz in saprolite) in the inferred resource category.
We seek Safe Harbor.
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