Advanced Gold Exploration Announces Completion of Debt Settlement

Rhea-AI Summary

Advanced Gold Exploration Inc settles $16,650 of debt through the issuance of 602,410 common shares at $0.05 per share.

Toronto, Ontario--(Newsfile Corp. - April 4, 2024) - Advanced Gold Exploration Inc (CSE: AUEX) (the "Company") is pleased to announce that, further to its press release of March 27, 2024, it has settled an aggregate of $16,650 of indebtedness to an arm's length creditor of the Company through the issuance of 602,410 common shares in the capital of the Company (the "Common Shares") at a price of $0.05 per Common Share (the "Debt Settlement"). The Common Shares issued pursuant to the debt settlement are subject to a four-month hold period.

About Advanced Gold Exploration Inc.

Advanced Gold Exploration (Formerly Advance United Holdings Inc.) brings an entirely different approach to the mining industry. We don't mine. Rather, we've acquired a portfolio of undervalued gold properties and are increasing their value through the application of modern technology. We have a growing pipeline of similar properties that we are looking to acquire. We are involved exclusively in the acquisition and advancement of past projects - with no intent to bring them back into production or to mine them ourselves. Our expertise is in identifying and acquiring undervalued properties with significant historical work, which were uneconomic at the time, but we believe have economic value at today's prices. We fund the re-working historic data and applying modern technology to underwrite new qualified reports, document quantifiable resources and reserves to current standards, thereby recognizing the current value. Our purpose is to bring immediate and long-term value to our partners and shareholders while seeking to eliminate exploration risk, so that we can all advance in the shortest possible time frame. For additional information about us, our projects, or to find out how we can assist in the advancement of your project contact our CEO.

Contact Information
James Atkinson, M.Sc., P. Geo.,
CEO Advanced Gold Exploration Inc.
Email: jim.atkinson@advancedgoldexploration.com
Tel: (647) 278-7502

Forward-Looking Information and Cautionary Statements

This news release contains certain "forward-looking information" within the meaning of applicable securities law. Forward looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate", "may", "will", "would", "potential", "proposed" and other similar words, or statements that certain events or conditions "may" or "will" occur. These statements are only predictions. Forward-looking information is based on the opinions and estimates of management at the date the information is provided, and is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking information. For a description of the risks and uncertainties facing the Company and its business and affairs, readers should refer to the Company's Management's Discussion and Analysis. The Company undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change, unless required by law. The reader is cautioned not to place undue reliance on forward-looking information.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/204359

FAQ

What amount of debt did Advanced Gold Exploration Inc settle?

Advanced Gold Exploration Inc settled $16,650 of debt.

How many common shares were issued in the debt settlement?

602,410 common shares were issued in the debt settlement.

At what price were the common shares issued?

The common shares were issued at a price of $0.05 per share.

What is the hold period for the common shares issued?

The common shares issued are subject to a four-month hold period.