Gold Terra Announces Annual General and Special Meeting Results and Grants Options

Rhea-AI Summary

Gold Terra Resource Corp. (YGTFF) held its Annual General and Special Meeting on June 7, 2022, in Vancouver, BC, where all shareholder proposals were approved. Directors elected for the upcoming year include Gerald Panneton and Louis Dionne. The company announced the approval of a new 10% rolling stock option plan and the reappointment of Dale Matheson Carr-Hilton Labonte LLP as auditors. Additionally, 943,750 options were granted at $0.24 per share, exercisable for five years. Gold Terra continues to focus on the Yellowknife City Gold project, which spans 800 sq. km and targets high-grade gold deposits.

Positive

• Approval of new 10% rolling stock option plan to incentivize employees.
• Election of experienced directors to guide company leadership.
• Strategic location near infrastructure enhances exploration potential.
• Significant targets identified on Yellowknife City Gold project.

Negative

• None.

VANCOUVER, BC / ACCESSWIRE / June 13, 2022 / Gold Terra Resource Corp. (TSX-V:YGT)(Frankfurt:TX0)(OTCQX:YGTFF) ("Gold Terra" or the "Company") announces that all matters submitted to the shareholders for approval as set out in the Company's Notice of Meeting and Information Circular which were mailed to shareholders in connection with the meeting were approved at the Company's Annual General and Special Meeting held in Vancouver, BC, on June 7, 2022.

The shareholders elected Gerald Panneton (Chair), Louis Dionne, Patsie Ducharme, Laurie Gaborit, Stuart Rogers, and Hellen Siwanowicz as directors of the Company for the forthcoming year.

Shareholders approved the Company's new 10% rolling stock option plan and the reappointment of Dale Matheson Carr-Hilton Labonte LLP, Chartered Professional Accountants, as the auditor of the Company for the ensuing year with their remuneration to be fixed by the board of directors.

In addition, the Company announces the grant of incentive stock options under the Company's stock option plan to its officers, employees and consultants to purchase up to an aggregate of 943,750 treasury shares. The options are exercisable at a price of $0.24 per share for a period of 5 years and are subject to the policies of the TSX Venture Exchange and the Company's stock option plan which includes a vesting period beginning six months after issue for 25% of the options, and 25% every six months following.

About Gold Terra's Yellowknife City Gold Project

The Yellowknife City Gold (YCG) project encompasses 800 sq. km of contiguous land immediately north, south and east of the City of Yellowknife in the Northwest Territories. Through a series of acquisitions, Gold Terra controls one of the six major high-grade gold camps in Canada. Being within 10 kilometres of the City of Yellowknife, the YCG is close to vital infrastructure, including all-season roads, air transportation, service providers, hydro-electric power, and skilled tradespeople. Gold Terra is currently focusing its drilling on the prolific Campbell shear, where 14 Moz of gold has been produced, and most recently on the Con Mine Option claims immediately south of the past producing Con Mine (1938-2003).

The YCG lies on the prolific Yellowknife greenstone belt, covering nearly 70 kilometres of strike length along the main mineralized shear system that host the former-producing high-grade Con and Giant gold mines. The Company's exploration programs have successfully identified significant zones of gold mineralization and multiple targets that remain to be tested which reinforces the Company's objective of re-establishing Yellowknife as one of the premier gold mining districts in Canada.

Visit our website at www.goldterracorp.com.

For more information, please contact:

Gerald Panneton, Executive Chairman
gpanneton@goldterracorp.com

Mara Strazdins, Manager of Investor Relations
Phone: 1-778-897-1590 | 604-689-1749 ext 102
Strazdins@goldterracorp.com

Neither the 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.

Cautionary Note Regarding Forward-Looking Information

Certain statements made and information contained in this news release constitute "forward-looking information" within the meaning of applicable securities legislation ("forward-looking information"). Generally, this forward-looking information can, but not always, be identified by use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or statements that certain actions, events, conditions or results "will", "may", "could", "would", "might" or "will be taken", "occur" or "be achieved" or the negative connotations thereof.

All statements other than statements of historical fact may be forward-looking information. Forward-looking information is necessarily based on estimates and assumptions that are inherently subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance, or achievements of the Company to be materially different from those expressed or implied by such forward-looking information. In particular, this news release contains forward-looking information on the Company's objective of re-establishing Yellowknife as one of the premier gold mining districts in Canada.

There can be no assurance that such statements will prove to be accurate, as the Company's actual results and future events could differ materially from those anticipated in this forward-looking information as a result of the factors discussed in the "Risk Factors" section in the Company's most recent MD&A and annual information form available under the Company's profile at www.sedar.com.

Although the Company has attempted to identify important factors that would cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. The forward-looking information contained in this news release is based on information available to the Company as of the date of this news release. 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. All of the forward-looking information contained in this news release is qualified by these cautionary statements. Readers are cautioned not to place undue reliance on forward-looking information due to the inherent uncertainty thereof. Except as required under applicable securities legislation and regulations applicable to the Company, the Company does not intend, and does not assume any obligation, to update this forward-looking information.

SOURCE: Gold Terra Resource Corp

View source version on accesswire.com:
https://www.accesswire.com/704805/Gold-Terra-Announces-Annual-General-and-Special-Meeting-Results-and-Grants-Options

FAQ

What were the results of Gold Terra Resource Corp.'s Annual General Meeting on June 7, 2022?

All shareholder proposals were approved, including the election of directors and a new stock option plan.

What stock options were granted by Gold Terra Resource Corp. in June 2022?

943,750 incentive stock options were granted at $0.24 per share for five years.

Who were elected as directors at the Gold Terra AGM in 2022?

Gerald Panneton, Louis Dionne, Patsie Ducharme, Laurie Gaborit, Stuart Rogers, and Hellen Siwanowicz.

How does the Yellowknife City Gold project benefit Gold Terra Resource Corp.?

The project offers significant exploration potential due to its proximity to infrastructure and historical gold production.

What is the significance of the new stock option plan for Gold Terra Resource Corp.?

The 10% rolling stock option plan aims to motivate and retain staff, potentially enhancing company performance.