WHITE ROCK, BC / ACCESSWIRE / October 31, 2022 / TDG Gold Corp (TSXV: TDG) (the “Company” or “TDG”) is pleased to announce that Talisker Resources Ltd. (“Talisker”) has entered into share purchase agreements (the “Purchase Agreements”) with certain TDG insiders, including a new independent director, Michael Kosowan, who has been appointed to the Board of Directors of TDG on October 28, 2022. The purchase agreements provide for the sale to such insiders of the remaining 8,538,151 common shares of TDG of Talisker (“Shares”), which are escrowed until December 2023. Following the closing of the purchases pursuant to purchase agreements, which is expected to take place on or about November 14, 2022, the directors and officers of TDG will collectively own approximately 13.4% of the issued and outstanding shares of TDG.
Michael Kosowan is an industry expert with over 20 years of junior mining experience. He is a qualified mining engineer (P.Eng) who has worked as a project engineer for a number of mining companies including Falconbridge, Placer Dome and Inco. Beginning in 2000, Michael led financings in the United States and Canada through his work with Sprott Private Wealth and Sprott Global Resources Inc. Since 2017, Michael has worked with junior mining issuers as a director, director and officer , including his current involvement with Torq Resources Inc. as Director and Vice President of Capital Markets.
TDG also announces that the Investor Rights Agreement that Talisker and TDG entered into upon the issuance of the shares was terminated in accordance with its terms on September 30, 2022, when Talisker ceased to own 10% of the shares. As part of this termination, Terry Harbort and Matt Filgate, Talisker’s two nominees to the TDG Board of Directors, have resigned effective October 28, 2022. TDG is pleased that both Terry and Matt will remain as advisors to the Company.
Fletcher Morgan, CEO of TDG, commented: “Michael brings his industry and financial markets expertise to the TDG Board. He has had many successes and I look forward to working closely with him to focus TDG’s delivery strategy for 2023 and beyond. Upon closing of the Talisker Share Purchases, Michael will own approximately 7.5% of TDG shares, making him TDG’s largest insider and providing immediate alignment of interests with our existing shareholders.
On behalf of TDG, I would also like to express my gratitude to Terry and Matt for their stewardship and technical guidance since TDG began trading in 2020 to acquire Toodogone’s portfolio of assets from Talisker. We look forward to their ongoing strategic and geological efforts contribution as TDG advances the exploration and development of our projects.“
About TDG Gold Corp.
TDG is a major mining claim holder in the historic Todoggone production corridor in north-central British Columbia, Canada, with over 23,000 hectares of brownfield and greenfield exploration opportunities directly owned or under an acquisition agreement. TDG’s flagship projects are the former high-grade Shasta, Baker and Mets gold-silver mines, all of which are accessible by road, operated intermittently between 1981 and 2012 and have over 65,000m of historic drilling . In 2021, TDG advanced the projects through the compilation of historical data, new geological mapping, geochemical and geophysical surveys and, for Shasta, drill testing of known mineralization occurrences and their extensions. In May 2022, TDG released an initial NI 43-101 mineral resource estimate for Shasta. For the 2022 field season, TDG has prioritized drilling known mineralization around Shasta. TDG currently has 96,343,142 common shares issued and outstanding.
ON BEHALF OF COUNCIL
Fletcher Morgan
Chief executive officer
For more information, contact:
TDG Gold Corp.,
Phone: +1.604.536.2711
E-mail: [email protected]
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.
This press release contains forward-looking statements based on the Company’s current expectations and estimates. Forward-looking statements are frequently characterized by words such as “plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate”, “suggest”, “indicate” and other similar words or statements that certain events or conditions “may” or “will” occur. These forward-looking statements involve known and unknown risks, uncertainties and other factors that could cause actual events or results to differ materially from the estimated or anticipated events or results implied or expressed in such forward-looking statements. These factors include, among others: the actual results of ongoing exploration activities; conclusions of economic evaluations; changes in project parameters as plans continue to be refined; possible variations in ore grade or recovery rates; accidents, labor disputes and other hazards of the mining industry; delays in obtaining government approvals or funding; and fluctuations in metal prices. There may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. Any forward-looking statement speaks only as of the date on which it is made and, except as required by applicable securities laws, the Company disclaims any intention or obligation to update any forward-looking statement, whether as a result of new information, future or other events or results. Forward-looking statements are not guarantees of future performance and, accordingly, undue reliance should not be placed on such statements due to the inherent uncertainty therein.
THE SOURCE: TDG Gold Corp.
#TDG #Gold #Corp #announces #insider #stock #purchase #agreements #appointment #director