May 3rd, 2019 Altamira Gold Corp.’s (TSXV: ALTA) (FSE: T6UP) (USA: EQTRF), (“Altamira” or the “Company”) announces that the TSX Venture Exchange has accepted for filing the Company’s proposal to issue 223,591 common shares (“Shares”) at a deemed price of $0.071 per Share to settle salary payments totaling $15,875 in respect of the month of April 2019. Management had agreed to extend, by a further month, the arrangement described fully in the Company’s news release dated December 18, 2018.
The shares are subject to a four month plus one day hold period in accordance with the policies of the TSX Venture Exchange and applicable securities law.
As Alan Carter, and Michael Bennett are directors of the Company, their participation in the issuance of 135,087 common shares pursuant to this arrangement for the month of March 2019 will constitute a related party transaction within the meaning of Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101”). The transaction is exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 pursuant to section 5.5(a) and section 5.7(a) of that instrument.
About Altamira Gold Corp.
The Company is focused on the exploration and development of gold projects within western central Brazil. The Company holds 11 projects comprising approximately 300,000 hectares, within the prolific Juruena gold belt which historically produced an estimated 7 to 10Moz of placer gold. The Company’s advanced Cajueiro project has an NI 43-101 compliant resources of 8.64Mt @ 0.78 g/t Au (for 214,000oz) in the Indicated Resource category and 9.53Mt @ 0.66 g/t Au (for 204,000oz) in the Inferred Resource category and an additional 1.37Mt @ 1.61 g/t Au in oxides (for 79,000oz in saprolite) in the Inferred Resource category.
On Behalf of the Board of Directors,
ALTAMIRA GOLD CORP.
President & CEO
Neither TSX Venture Exchange nor it 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.
Statements in this document which are not purely historical are forward-looking statements, including any statements regarding beliefs, plans, expectations or intentions regarding the future. It is important to note that actual outcomes and the Company’s actual results could differ materially from those in such forward-looking statements. Except as required by law, we do not undertake to update these forward-looking statements.