Stellar AfricaGold Grants Stock Options

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(TheNewswire)



 

Montreal, Quebec – TheNewswire - November 29, 2019 – John Cumming, President and Chief Executive Officer of Stellar AfricaGold Inc., (TSXV:SPX) ("Stellar" or the "Company") announces:

 

GRANT OF STOCK OPTIONS

 

The Company has granted 250,000 incentive stock options to directors of the Company. The options are for a five-year term exercisable at $0.05 per share, are fully vested and are granted pursuant to the Company’s approved Stock Option Plan.

 

NEW EXPLORATION ACQUISITIONS

In October 2019 Stellar completed the sale of its Balandougou Gold Project in Guinea for C$5.15M. (See news release October 30, 2019) The Company is actively reviewing potential new exploration opportunities in two attractive but still under-explored African jurisdictions, Morocco and Ivory Coast.  Further announcements will be made as decisions are taken.

 

ABOUT STELLAR AFRICAGOLD INC.

 

Stellar AfricaGold Inc. is a Canadian gold exploration company with offices in Vancouver, BC and Montreal, QC.

Additional information is available on the Company’s website at www.stellarafricagold.com.

 

On Behalf of the Board

 

John Cumming, LLM,

President & CEO

This release contains certain "forward-looking information" under applicable Canadian securities laws concerning the Arrangement. Forward-looking information reflects the Company’s current internal expectations or beliefs and is based on information currently available to the Company. In some cases forward-looking information can be identified by terminology such as "may", "will", "should", "expect", "intend", "plan", "anticipate", "believe", "estimate", "projects", "potential", "scheduled", "forecast", "budget" or the negative of those terms or other comparable terminology. Assumptions upon which such forward-looking information is based includes, among others, that the conditions to closing of the Arrangement will be satisfied and that the Arrangement will be completed on the terms set out in the definitive agreement. Many of these assumptions are based on factors and events that are not within the control of the Company, and there is no assurance they will prove to be correct or accurate. Risk factors that could cause actual results to differ materially from those predicted herein include, without limitation: that the remaining conditions to the Arrangement will not be satisfied; that the business prospects and opportunities of the Company will not proceed as anticipated; changes in the global prices for gold or certain other commodities (such as diesel, aluminum and electricity); changes in U.S. dollar and other currency exchange rates, interest rates or gold lease rates; risks arising from holding derivative instruments; the level of liquidity and capital resources; access to capital markets, financing and interest rates; mining tax regimes; ability to successfully integrate acquired assets; legislative, political or economic developments in the jurisdictions in which the Company carries on business; operating or technical difficulties in connection with mining or development activities; laws and regulations governing the protection of the environment; employee relations; availability and increasing costs associated with mining inputs and labour; the speculative nature of exploration and development; contests over title to properties, particularly title to undeveloped properties; and the risks involved in the exploration, development and mining business. Risks and unknowns inherent in all projects include the inaccuracy of estimated reserves and resources, metallurgical recoveries, capital and operating costs of such projects, and the future prices for the relevant minerals.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

 

Copyright (c) 2019 TheNewswire - All rights reserved.