Canada invests $70m in Seymour Lake lithium project in Ontario
The lithium mine operated by Australia's Green Technology Metals could become the province's first lithium producer.
(via TheNewswire)
VANCOUVER, British Columbia, - TheNewswire - November 29, 2024: Gitennes Exploration Inc. ("Gitennes" or the "Company") - (TSXV – GIT) is pleased to announce the results of its Annual General and Special Meeting (AGSM) of shareholders held on November 28, 2024.
Resolutions passed at the meeting included the appointment of Brunet Roy Dubé, CPA, as auditors for the ensuing year; approval of the Company’s stock option and fixed equity incentive plans; the election of Jordan Potts, Paul Larkin, and Jennifer McCappin as directors; and the re-election of Mansoor Jan as a director.
Effective immediately, Ken Booth (CEO) and Martin Nicoletti (CFO) have resigned from the Company. Gitennes extends their appreciation to each of them for their invaluable service over the years and wishes them the best in their future endeavors.
Management Changes
Gitennes is pleased to announce that Mr. Jordan Potts has been appointed as the new interim CEO, effective immediately.
Mr. Potts brings extensive experience in the public markets, having advised and served on numerous boards and consulted for many companies on the TSXV and the CSE. Over the past six years he has successfully secured substantial funding for junior exploration companies across Canada and has instrumental in the development and growth of those companies. His previous experience also includes a significant tenure in the commercial real estate sector, where he was instrumental in fundraising, managing and project development.
The Company is also pleased to announce that Mr. Paul Larkin has been appointed as the new interim CFO effective immediately.
Mr. Larkin has vast experience in the public markets and the renewable energy sector. Currently a director of a Vancouver-based renewable energy royalties’ company, Mr. Larkin was a co-founder of U.S. Geothermal, a leading geothermal renewable energy company that was sold to Ormat Technologies (NYSE: ORA) in 2018 for $200 million (U.S.).
Since 1983, Mr. Larkin has been the President of the New Dawn Group, an investment and financial consulting firm located in Vancouver. New Dawn is primarily involved in corporate finance, merchant banking and administrative management of public companies. Mr. Larkin was an investment banker before founding New Dawn in 1983.
Mr. Larkin has been a director and/or officer of various TSX, NYSE, and TSX Venture Exchange listed companies, and is an experienced audit, compensation and corporate governance director.
Stock Option and RSU Grant
The Company has granted 1.2 million stock options and 1 million restricted share units’ (the “RSU’s”) to directors, officers and consultants of the Company. The stock options will have an exercise price of 27.5 cents for a five year period expiring on November 29 2029, and have been granted in accordance with the Company’s Stock Option Plan and may be subject to vest periods. The RSU’s will be subject to vesting terms and once vested, each RSU represents the right to receive one common share of the Company or the equivalent cash value thereof, at the Company’s discretion.
About Gitennes Exploration Inc.
The Company currently has two properties in the Sept Iles region of Quebec where it is exploring for nickel, niobium and tantalum, and three gold properties in the Chapais-Chibougamau area of Quebec: New Mosher, JMW and Maxwell. All properties are 100% owned by Gitennes except for New Mosher which is under an option agreement whereby Gitennes can earn an initial 70% and has the right to increase its ownership to 85%.
For further information on the Company, readers are referred to the Company’s website at www.gitennes.com and its Canadian regulatory filings on SEDAR+ at www.sedarplus.ca.
Gitennes Exploration Inc.
Jordan Potts
Interim CEO, Director
For further information, please contact:
(250) 317-4552
Email: [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 news release.
Cautionary Note Regarding Forward-Looking Information
This news release contains forward-looking statements and forward-looking information (collectively, "forward looking statements") within the meaning of applicable Canadian and U.S. securities legislation. All statements, other than statements of historical fact, included herein are forward-looking statements. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are typically identified by words such as: "believes", "expects", "anticipates", "intends", "estimates", "plans", "may", "should", "would", "will", "potential", "scheduled" or variations of such words and phrases and similar expressions, which, by their nature, refer to future events or results that may, could, would, might or will occur or be taken or achieved. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to differ materially from any future results, performance or achievements expressed or implied by the forward looking information. Such risks and other factors include anticipated business plans, direction and timing of future activities of the Company, the ability of the Company to obtain sufficient financing to fund its business activities and plans, delays in obtaining governmental and regulatory approvals (including of the TSX Venture Exchange), permits or financing, changes in laws, regulations and policies affecting mining operations, currency fluctuations, title disputes or claims, environmental issues and liabilities, on the Company's business, financial condition and results of operations, changes in laws, regulations and policies affecting mining operations, title disputes, the inability of the Company to obtain any necessary permits, consents, approvals or authorizations, the timing and possible outcome of any pending litigation, environmental issues and liabilities, and risks related to joint venture operations, and other risks and uncertainties disclosed in the Company's continuous disclosure documents. All of the Company's Canadian public disclosure filings may be accessed via www.sedarplus.ca and readers are urged to review these materials.
Readers are cautioned not to place undue reliance on forward-looking statements. The Company does not undertake any obligation to update any of the forward-looking statements in this news release or incorporated by reference herein, except as otherwise required by law.
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