/THIS NEWS RELEASE IS NOT FOR DISTRIBUTION IN
THE UNITED STATES OR TO U.S. NEWS
AGENCIES/
VANCOUVER, BC, Oct. 31,
2022 /CNW/ - MAS Gold Corp. ("MAS Gold"
or the "Company") – (TSXV: MAS) announced on October 25, 2022 it intends to reprice 17,077,881
share purchase warrants (the "Historical
Warrants") originally issued by the Company on December 30, 2020 pursuant to a non-brokered
private placement at a price of $0.045.
The repricing has been changed from $0.045 to $0.05
(the "Amendment") on the Historical Warrants, in accordance
with the policies of the TSX Venture Exchange ("TSXV").
Pursuant to the Amendment, the exercise price of all the
Historical Warrants will be reduced to $0.05 and the expiry of the Historical Warrants
will become subject to an accelerated expiry provision providing
for the exercise period of the Historical Warrants to be reduced to
30 days if, for any ten consecutive trading days during the
unexpired term of the Historical Warrants, the closing price of the
common shares of the Company on the TSXV exceeds $0.0625, representing the amended Historical
Warrants exercise price of $0.05 plus
25% (a "Premium Trading Period"). The 30-day expiry period
will commence on the day that the Company disseminates a news
release announcing the accelerated expiry period, or if the Company
does not disseminate a new release, then the accelerated expiry
period will automatically start seven days after completion of the
Premium Trading Period.
Jim Engdahl, Chief Executive
Officer of the Company commented, "We believe that a reduction of
exercise prices of the Historical Warrants will provide an
excellent opportunity for existing investors holding Historical
Warrants to continue to participate in the ongoing financing and
future growth and development of the Company's projects. At the
amended exercise price, the Historical Warrants could generate
significant working capital if all Historical Warrants are
exercised. We encourage all holders of Historical Warrants to
provide their consent to the proposed Amendments."
The Amendments described above are subject to approval by the
holders of the Historical Warrants and by the TSXV.
About MAS Gold Corp.
MAS Gold Corp. is a Canadian mineral exploration company focused
on exploration projects in the prospective La Ronge Greenstone Belt
of Saskatchewan. In the belt, MAS
Gold Corp. operates the Greywacke, North
Lake and Point advanced gold projects, each hosting
drill-intercepted zones of gold mineralization. MAS Gold's NI
43-101 Technical Report of June 1,
2016 concerning the Greywacke deposit is available on SEDAR
and on MAS Gold's website: www.masgoldcorp.com.
On Behalf of the Board of Directors of MAS Gold Corp.
Jim Engdahl
President & CEO
t: 306-986-5722
c: 306-262-4964
This news release does not constitute an offer to sell, or
the solicitation of an offer to buy securities in any jurisdiction
in which such offer or solicitation would be unlawful prior to
registration or qualification under the securities laws of such
jurisdiction.
The securities offered under the Offering have not been and
will not be registered under the United States Securities Act of
1933, as amended (the "Securities Act"), or the securities laws of
any state of the United States,
and may not be offered or sold in the
United States or to, or for the account or benefit of, any
U.S. Person (as defined in Regulation S of the Securities Act) or a
person in the United States,
unless an exemption from such registration requirements is
available.
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 news release.
SOURCE MAS Gold Corp
