Bedford, Nova Scotia--(Newsfile Corp. - November 19, 2021) - Sylla Gold Corp. (TSXV: SYG.H) (the "Company") is pleased to announce that its common shares have been reinstated for trading and will commence trading on Tuesday, November 23, 2021.
The Company held its annual and special meeting of the shareholders on November 12, 2021, where shareholders approved the election of the directors of the Company, the appointment of the auditors of the Company, the confirmation and approval of the stock option plan of the Company and the approval of a proposed related party transaction (the "Transaction") between the Company and Niaouleni Gold Inc. ("Niaouleni Gold") pursuant to which the Company has the option (the "Option") to acquire all of the issued and outstanding shares of Niaouleni Gold Mali SARL ("Niaouleni Mali"), which holds a 100% interest in a gold and group 2 mineral substances research and exploration permit located in the Republic of Mali (the "Niaouleni Permit").
Niaouleni Permit
The Niaouleni Permit is 9,400 hectares in size and accessible by paved highway and includes extensive artisanal mining activity within the interpreted extensions of gold bearing structures. Past exploration at the Niaouleni Permit includes extensive RAB, reverse circulation (RC) and diamond drilling, which have identified several structural gold-bearing zones that appear to extend from the adjacent Kobada gold deposit. Historical exploration and drilling results are currently being compiled into a digital database and will be interpreted for the purposes of designing a drilling program to further test these structural gold-bearing zones and possibly extend them further.
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Reactivation
It is intended that the Transaction will result in the reactivation of the Company pursuant to the regulations of the TSXV, and the graduation of the Company from the NEX to a listing of the Company on the TSXV. The Company has applied to the TSXV for reactivation. The TSXV is in the process of reviewing the Company's application and a technical report prepared in accordance with National Instrument 43-101.
Qualified Person Statement
All scientific and technical information contained in this news release was prepared and approved by Gregory Isenor, P.Geo., a Director of the Company who is a Qualified Person as defined in National Instrument 43-101.
For more information, please contact:
Regan Isenor
President and Chief Executive Officer
Tel: (902) 233-4381
Email: risenor@syllagold.com
Neither 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 news release contains forward-looking information which is not comprised of historical facts. Forward-looking information is characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, and opportunities to differ materially from those expressed or implied by such forward-looking information. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, changes in the state of equity and debt markets, fluctuations in commodity prices, delays in obtaining required regulatory or governmental approvals, and includes those risks set out in the Company's management's discussion and analysis as filed under the Company's profile at www.sedar.com. Forward-looking information in this news release is based on the opinions and assumptions of management considered reasonable as of the date hereof, including that all necessary governmental and regulatory approvals will be received as and when expected. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information. The Company disclaims any intention or obligation to update or revise any forward-looking information, other than as required by applicable securities laws.
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