Mr. Michael Bennett reports
ALTAMIRA ANNOUNCES COMPLETION OF JANUARY 2019 SALARY SETTLEMENT
Further to the announcement on Dec. 17, 2018, the TSX Venture Exchange has accepted for filing the company's proposal to issue 276,562 common shares at a deemed price of eight cents per share to settle salary payments totalling $22,125 in respect of the month of January, 2019.
The shares 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 198,451 common shares pursuant to this arrangement for the month of January, 2019, 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, 9.53 million tonnes of 0.66 gram per tonne gold (for 204,000 ounces) in the inferred resource category and an additional 1.37 million tonnes of 1.61 grams per tonne gold in oxides (for 79,000 ounces in saprolite) in the inferred resource category.
We seek Safe Harbor.
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