Clarity Gold Appoints Legal Specialist Mr. Olen Aasen as Advisor

Rhea-AI Summary

Clarity Gold Corp. has announced the appointment of Olen Aasen to its Advisory Board. Aasen is an experienced lawyer with over 14 years in corporate and securities law, particularly within the mining sector. His background includes advising on over $800 million in debt and equity financings. Clarity also granted 550,000 incentive stock options to consultants, exercisable at $1.48 per share until March 15, 2023. The Destiny Project, Clarity's flagship, spans 5,013 hectares in the Abitibi Greenstone Belt and has undergone over 50,000 meters of diamond drilling.

Positive

• Appointment of Olen Aasen brings valuable legal expertise in corporate and securities law.
• Aasen's experience in mining and financing may enhance Clarity's strategic initiatives.
• Issuance of stock options aligns incentives with performance, potentially benefiting shareholders.

Negative

• Concerns about continuity in leadership experience given the recent appointment.
• Investors may perceive risk in the company's reliance on new advisory expertise.

VANCOUVER, British Columbia, March 16, 2021 (GLOBE NEWSWIRE) -- Clarity Gold Corp. (“Clarity” or the “Company”) (CSE: CLAR, OTC: CLGCF, FSE: 27G) is pleased to welcome Mr. Olen Aasen to its Advisory Board. Mr. Aasen is an executive and corporate and securities lawyer with more than 14 years of experience in corporate, securities, mining and regulatory matters bringing a range of legal experience to Clarity’s team.

Mr. Aasen has been the Corporate Secretary, General Counsel or Vice President, Legal at various Canadian and U.S.-listed companies including TSX-listed Excelsior Mining Corp. Mr. Aasen has significant experience in working with mining companies through the development cycle and has advised on the successful completion of environmental assessments and permitting processes in Canada and the United States. In the past ten years Mr. Aasen has advised on over $800 million in debt and equity financings and structured project finance packages as well as advised on numerous critical project level agreements including rail transportation, power supply, port services, offtake, royalty, stream and Aboriginal impact benefits agreements. Mr. Aasen did his undergraduate studies in the Finance Department of the Sauder School of Business, obtained a J.D. from the University of British Columbia in 2006 and was called to the British Columbia Bar in 2007. Mr. Aasen was also appointed to the 2016 Legal 500 GC Powerlist for Canada.

“It’s an honour to welcome Olen as part of our Advisory team at Clarity,” said James Rogers, CEO of Clarity. “Olen’s legal experience in multiple aspects of the resource industry and finance and his proven reputational excellence are an asset for the company as we advance the Destiny Project.”

Issuance of Options

The Company is also pleased to announce that it has granted incentive stock options (each, an “Option”) to acquire an aggregate of 550,000 common shares of the Company (each, a “Share”) to certain consultants under its stock option plan. Each Option is exercisable for a period of two years expiring on March 15, 2023, at a price of $1.48 per Share. All the Options vested on the date of grant. The Options and the Shares issuable upon the exercise of the Options held by the optionees are subject to a hold period of four months from the date of grant of the Options.

About the Destiny Project

The 5,013 ha Destiny Project is located in the prolific Abitibi Greenstone Belt along a major structural break which is largely underexplored. The project has excellent infrastructure, with road access approximately 75 km NNE of the city of Val d’Or and has considerable work done to date including over 50,000 m of diamond drilling.

For a more detailed account, the reader is encouraged to refer to the Company’s website.

About Clarity

Clarity Gold Corp. is a Canadian mineral exploration company focused on the acquisition, exploration and development of gold projects in Canada. The Company has entered into an option agreement to purchase 100% of the Destiny Project, Clarity’s flagship asset, a gold-focused project in the mineral rich Abitibi region in Quebec. The Company is based in Vancouver, British Columbia, and is listed on the CSE under the symbol “CLAR”. To learn more about Clarity Gold Corp. and its projects please visit www.claritygoldcorp.com.

ON BEHALF OF THE BOARD
“James Rogers”
Chief Executive Officer
Tel: 1 (833) 387-7436
Email: info@claritygoldcorp.com
Website: claritygoldcorp.com

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION: This news release includes certain “forward-looking statements” under applicable Canadian securities legislation. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements in this news release include, but are not limited to, statements regarding that the new advisory board member’s technical experience and track record of management and project evaluation will be immensely valuable to the Company. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements, including risks related to factors beyond the control of the Company. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Risks that could change or prevent these statements from coming to fruition include, but are not limited to, general market conditions and other factors beyond the direct control of the Company. Accordingly, readers should not place undue reliance on forward-looking statements. The Company disclaims 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 required by law.

The Canadian Securities Exchange (operated by CNSX Markets Inc.) has neither approved nor disapproved of the contents of this press release.

 

FAQ

Who is Olen Aasen and what is his role at Clarity Gold Corp.?

Olen Aasen has been appointed to the Advisory Board of Clarity Gold Corp., bringing over 14 years of experience in corporate and securities law in the mining industry.

What is the Destiny Project associated with Clarity Gold Corp.?

The Destiny Project is Clarity's flagship gold project located in the Abitibi Greenstone Belt, encompassing 5,013 hectares with significant exploration and drilling completed.

What stock options were granted by Clarity Gold Corp.?

Clarity Gold Corp. granted 550,000 incentive stock options to consultants, exercisable at $1.48 per share for two years.

What financial impact does Olen Aasen's appointment have on Clarity Gold Corp.?

Aasen's legal expertise in financing and mining may support Clarity's strategic initiatives and improve potential project outcomes.

When do the options granted by Clarity Gold Corp. expire?

The options granted by Clarity Gold Corp. will expire on March 15, 2023.