VANCOUVER, BC / ACCESSWIRE / August 30, 2024 / Galloper Gold Corp. (CSE:BOOM)(OTC PINK:GGDCF) (the "Company" or "Galloper") is pleased to provide a corporate update as the Company continues to advance its assets in Newfoundland.
GALLOPER ENTERS INTO AGREEMENT TO ACQUIRE ADDITIONAL MINERAL EXPLORATION CLAMS ON GLOVER ISLAND, NEWFOUNDLAND
The Company has entered into a purchase agreement (the "Agreement") with a third-party vendor (the "Vendor") to acquire additional mining claims in Newfoundland as part of its continued exploration efforts (the "Acquisition").
Pursuant to the Agreement, Galloper has agreed to purchase from the Vendor four (4) exploration licenses comprising 16 claims in Newfoundland. As consideration, Galloper will pay the Vendor an aggregate of CAD $45,000 cash and issue to the Vendor 800,000 Galloper common shares. The Acquisition is subject to the Canadian Securities Exchange (CSE) having no objection.
The claims are on Glover Island and are contiguous to Galloper's current holdings at its flagship and drill-ready Glover Island Property.
GALLOPER RETAINS DAVID KEAN FOR INVESTOR RELATIONS
Galloper has entered into an agreement with David Kean (the "Consultant") pursuant to which the Consultant will provide investor relations (IR) services to Galloper Gold for an initial term of seven (7) months beginning September 1, 2024, which may be extended by mutual agreement between the parties.
Galloper Gold will pay the Consultant a fee of $3,500 per month, plus applicable taxes. The Consultant will also be granted stock options to purchase 100,000 common shares of Galloper Gold with an exercise price of CAD $0.12 per share. The options will be in accordance with Galloper Gold's stock option plan and will expire twelve (12) months from the date of issuance.
The investor relations agreement and grant of stock options are subject to the Canadian Securities Exchange (CSE) having no objection.
GALLOPER GOLD ANNOUNCES GRANT OF STOCK OPTIONS
Galloper announces the granting of an aggregate of 3,500,000 stock options of which 2,700,000 will be granted to directors and officers of the Company with an exercise price of $0.12 per share and will expire after 5 years and shall vest immediately. A total of 800,000 stock options (including those to be issued to the Consultant as described above) have been granted to consultants with an exercise price of $0.12 whereby 300,000 options will expire after 24 months and 500,000 options will expire after 12 months and will be subject to vesting provisions. The stock options are subject to the policies of the Canadian Securities Exchange, applicable securities laws and the terms of the Corporation's equity incentive plan.
On behalf of the Board of Directors
Mr. Mark Scott
CEO
Galloper Gold Corp.
Company Contact: info@gallopergold.com, 778-655-9266
Investor Relations:
MarketSmart Communications
Tel: 877-261-4466
Acknowledgment - Newfoundland & Labrador Junior Exploration Assistance Program
Galloper Gold acknowledges the financial support of the Junior Exploration Assistance Program, Department of Natural Resources, Government of Newfoundland and Labrador.
Galloper Gold Corp.
Galloper is focused on mineral exploration in the Central Newfoundland Gold Belt with its Glover Island and Mint Pond properties, each prospective for gold and base metals. The Glover Island Property consists of 532 mining claims totaling 13,300 hectares while Mint Pond consists of 499 claims totaling 12,475 hectares.
For more information please visit www.GalloperGold.com and the Company's profile on SEDAR+ at www.sedarplus.ca.
Forward Looking Statements
This news release contains forward-looking statements within the meaning of applicable securities laws. The use of any of the words "anticipate", "plan", "continue", "expect", "estimate", "objective", "may", "will", "project", "should", "predict", "potential" and similar expressions are intended to identify forward looking statements. Although the Company believes that the expectations and assumptions on which the forward-looking statements are based are reasonable, undue reliance should not be placed on the forward-looking statements because the Company cannot give any assurance that they will prove correct. Since forward-looking statements address future events and conditions, they involve inherent assumptions, risks and uncertainties. Forward looking statements in this news release include statements regarding the proposed property purchase transaction and acquisition of additional claims, the provision of IR services by the Consultant, and the grant of stock options. Actual results could differ materially from those currently anticipated due to a number of assumptions, factors and risks, including the risk that the property purchase transaction may not be completed as expected or at all, or that the option grants may vary. These assumptions and risks include, but are not limited to, assumptions and risks associated with mineral exploration generally, risks related to capital markets, risks related to the state of financial markets or future metals prices and the other risks described in the Company's publicly filed disclosure.
Management has provided the above summary of risks and assumptions related to forward-looking statements in this news release in order to provide readers with a more comprehensive perspective on the Company's future operations. The Company's actual results, performance or achievement could differ materially from those expressed in, or implied by, these forward-looking statements and, accordingly, no assurance can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do so, what benefits the Company will derive from them. These forward-looking statements are made as of the date of this news release, and, other than as required by applicable securities laws, the Company disclaims any intent or obligation to update publicly any forward-looking statements, whether as a result of new information, future events or results or otherwise.
Neither the Canadian Securities Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
SOURCE: Galloper Gold Corp.
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