07:00:06 EDT Thu 25 Apr 2024
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KO Gold Inc
Symbol KOG
Shares Issued 22,431,832
Close 2024-02-23 C$ 0.45
Market Cap C$ 10,094,324
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KO Gold acquires two N.Z. exploration permits

2024-02-23 17:29 ET - News Release

Mr. Greg Isenor reports


KO Gold Inc., further to its press release dated Feb. 15, 2024, has acquired two exploration permits (EP) located in the Otago gold district of New Zealand. The acquisition was completed pursuant to an arm's-length exploration permit acquisition agreement dated Feb. 15, 2024, with NewPeak Metals Ltd. and NewPeak NZ Ltd. (together with NewPeak Metals, the vendors), and Neil Stuart (the recipient).

As partial consideration for the property, the company has issued the recipient and the vendors an aggregate of 595,238 common shares in the capital of the company at a deemed issuance price of 42 cents per common share.

All common shares issued pursuant to the acquisition will be subject to a statutory hold period of four months plus a day from the date of issuance in accordance with applicable securities legislation.

Completion of the sale and purchase of the property is also subject to, and conditional upon, New Zealand Petroleum and Minerals (NZP&M) and the Minister approving the transfer of the property from the vendors to the purchaser in accordance with the New Zealand Crown Minerals Act.

About KO Gold Inc.

KO Gold is a Canadian junior mining company listed on the Canadian Securities Exchange under the ticker symbol KOG. The company's strategy is to acquire and explore highly prospective gold properties within the Otago gold district in New Zealand. KO Gold has eight 100-per-cent-owned prospecting and exploration permits within the Otago gold district, which include the Smylers gold project, for a combined land package of approximately 1,064 square kilometres. The Smylers gold project is an advanced exploration project located adjacent to OceanaGold's active Macraes gold mine. The Smylers gold project has the potential to host a major gold deposit, and has seen significant investments in exploration and drilling over the past few years including over $1-million spent by KO Gold on exploration, including reverse circulation (RC) and diamond drilling.

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