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(via TheNewswire)
VANCOUVER, British Columbia – TheNewswire - January 10, 2025: Gitennes Exploration Inc. ("Gitennes" or the "Company") - (TSXV: GIT) is pleased to provide an update on the Company’s mineral exploration activities in Quebec and the broader plan for 2025 following successful completion of a $1.5 million private placement that has brought strategic new investors into the Company.
Gitennes has engaged Mr. Martin Demers, P.Geo., an independent consulting geologist in Quebec who specialized in northern Quebec geology and mineral deposits models during the last 25 years, to carry out an immediate desktop assessment of the Company’s very promising battery metal and gold properties in the province that Gitennes’ new management team believes have been under-explored and overlooked for their discovery potential. Mr. Demers is expected to complete his assessment by the end of January and will also provide recommendations for immediate work programs.
While attempting to unlock the potential value of its Quebec mineral assets, Gitennes has been evaluating potential new resource projects as disclosed in previous recent news releases.
Mr. Jordan Potts, interim CEO, commented: “We have a highly favorable share structure, an advantage we intend to leverage to the fullest extent, and a new board and management team committed to the immediate and longer-term success of this Company both on the ground and in the market. 2025 promises to be an exciting year for Gitennes’ shareholders, hence this quick injection of $1.5 million into the Company. We are focused and driven to deliver exploration success, a powerful corporate brand, and strong value to shareholders.”
Gitennes Enters Into Investor Relations Agreement
Gitennes is also pleased to announce that it has entered into an investor relations agreement (the "Agreement") dated January 9, 2025, with Chad Levesque Consulting ("CLC"), an arm's length party to the Company. Pursuant to the Agreement, CLC has agreed to provide corporate and communications services to the Company, in consideration for an aggregate amount of $6,500 per month in cash, the reimbursement of reasonable and standard travel and other expenses incurred by CLC in connection with the services performed thereunder, and the issuance of 150,000 stock options having an exercise price of $0.42 and expiring on January 7, 2030. The stock options shall vest over 12 months with no more than 1/4 of the options vesting in any 3-month period, in accordance with the terms of the Company's stock option plan. The term of the Agreement is for a period of one year (the "Initial Term"). Following completion of the Initial Term either Gitennes or CLC may terminate the Agreement with 30 days' notice. CLC's business address is 27 Gillingham Cres. Prince Albert, SK S6X 0A5, email: [email protected], telephone: Cell - 1-306-981-4753 / Office 1-306-763-3068. Other than the stock options issued in connection with the Agreement, CLC owns 578,000 securities of the Company.
Qualified Person
The technical information in this news release has been reviewed and approved by Mr. Martin Demers, P.Geo., a member of the Order of Geologists of Quebec. Mr. Demers is the Qualified Person responsible for the scientific and technical information contained herein under National Instrument 43-101 standards.
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:
Chad Levesque
1-306-981-4753
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.
This press release contains "forward-looking information" within the meaning of applicable Canadian and United States securities laws, which is based upon the Company's current internal expectations, estimates, projections, assumptions and beliefs. The forward-looking information included in this press release are made only as of the date of this press release. Such forward-looking statements and forward-looking information often, but not always, can be identified by the use of words such as "plans", "expects", "potential", "is expected", "anticipated", "is targeted", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "believes" or the negatives thereof or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved.
The forward-looking statements included in this press release are made as of the date of this press release Gitennes Exploration Inc. disclaim any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation.
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