Golden Spike Concludes Debt Settlement Transaction

Rhea-AI Summary

Golden Spike Resources Corp. (CSE: GLDS) (OTCQB: GSPRF) (FSE: L5Y) issued 562,500 common shares at $0.08 per share to settle a debt of CAD$45,000, preserving cash for operations. The shares will be subject to a hold period expiring on April 13, 2024.

Vancouver, British Columbia--(Newsfile Corp. - December 12, 2023) - Golden Spike Resources Corp. (CSE: GLDS) (OTCQB: GSPRF) (FSE: L5Y) ("Golden Spike" or the "Company") Further to its announcement on December 6, 2023, the Company has issued 562,500 common shares (each, a "Share") at $0.08 per Share as settlement of indebtedness totaling CAD$45,000 (the "Transaction").

The Company determined to satisfy this outstanding indebtedness with Shares to preserve its cash for operations. All Shares issued pursuant to the Transaction will be subject to a four-month and one-day hold period expiring on April 13, 2024.

About Golden Spike

Golden Spike Resources Corp. (CSE: GLDS), (OTCQB: GSPRF), (FSE: L5Y) is a Canadian mineral exploration company focused on identifying, acquiring and unlocking value in mineral opportunities in Canada and other low-risk jurisdictions. The Company currently holds 100% interest in the 3,425-hectare Gregory River Property in Newfoundland, strategically centered over an approximate 11-kilometer-long stretch of the Gregory River VMS-belt, a north-northeast trending corridor of very prospective ground with potential to host Cyprus-type polymetallic VMS deposits. In addition, the Property hosts a cluster of historically explored, high-grade, copper ±gold vein structures.

ON BEHALF OF THE BOARD OF DIRECTORS

Keith Anderson, President and CEO
Golden Spike Resources Corp.
830 - 1100 Melville St., Vancouver, BC, V6E 4A6
+1 (604) 786-7774
info@goldenspikeresources.com; www.goldenspikeresources.com

"Neither the Canadian Securities Exchange (the "CSE") nor its Regulation Services Provider (as that term is defined in policies of the CSE) accepts responsibility for the adequacy or accuracy of this release."

Cautionary Note Regarding Forward-Looking Statements

This release includes certain statements and information that may constitute forward-looking information within the meaning of applicable Canadian securities laws. Forward-looking statements relate to future events or future performance and reflect the expectations or beliefs of management of the Company regarding future events. Generally, forward-looking statements and information can be identified by the use of forward-looking terminology such as "intends" or "anticipates", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "should", "would" occur.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/190773

FAQ

What is the recent announcement from Golden Spike Resources Corp. (CSE: GLDS) (OTCQB: GSPRF) (FSE: L5Y)?

Golden Spike Resources Corp. issued 562,500 common shares at $0.08 per share to settle a debt of CAD$45,000.

Why did Golden Spike Resources Corp. issue shares to settle the debt?

The company chose to issue shares to preserve its cash for operations.

What is the hold period for the shares issued by Golden Spike Resources Corp.?

The shares will be subject to a four-month and one-day hold period expiring on April 13, 2024.