Ethos Gold Closes Transaction with Nevada King Gold Corp.
Vancouver, British Columbia--(Newsfile Corp. - September 8, 2021) - Ethos Gold Corp. (TSXV: ECC) (OTCQB: ETHOF) (FSE: 1ET) ("Ethos" or the "Company") is pleased to announce the closing of its previously announced transaction with Nevada King Gold Corp. ("Nevada King") whereby, pursuant to a termination and release agreement (the "Agreement") with Nevada King entered into on May 10, 2021, Ethos renounced all of its rights under the Earn-in Agreement with Nevada King dated May 16, 2019 with respect to the Iron Point project in Humboldt County, Nevada in exchange for the issuance 6.5 million shares of Nevada King to Ethos (the "Transaction"). The Nevada King shares issued to Ethos are subject to a voluntary hold period of twelve (12) months from the date of issuance.
No finder's fee is payable in connection with the Transaction. The Transaction was considered a "Reviewable Transaction" under the TSX Venture Exchange Policy 5.3 as, at the time Ethos and Nevada King entered into the Agreement, Craig Roberts, a current director of Nevada King, was also the Chief Executive Officer and a director of Ethos. The Transaction was approved in accordance with applicable corporate law, with Craig Roberts declaring his interest in the Transaction and abstaining from voting on the resolutions of the board of directors of Ethos approving the Transaction.
About Ethos Gold Corp.
Ethos Gold, a Discovery Group company, has accumulated a portfolio of district-scale projects in British Columbia, Ontario, Quebec, and Newfoundland that have large scale discovery potential. The Company has a solid technical team led by Dr. Rob Carpenter, formerly the CEO of Kaminak Gold Corporation, who led the Kaminak team from initial listing in 2005 through acquisition and discovery of the multiple-million-ounce Coffee Gold Project. In Ethos, he has assembled a senior technical advisory team with a strong record of discovery success and includes Dr. Robert Brozdowski, P.Geo., Dan MacNeil, M.Sc., P.Geo., Dr. Alan Wainwright, P.Geo, and Dr. Quinton Hennigh, an economic geologist with 25 years of exploration experience formerly with Homestake Mining Company, Newcrest Mining and Newmont Mining Corp. Ethos is advancing its nine projects throughout Canada under the stewardship of Vice President of Exploration, Jo Price, P.Geo., MBA, with work programs underway this summer with dedicated teams on each project.
Ethos engages proactively with Indigenous rightsholders and seeks to develop relationships and agreements that are mutually beneficial. The Company's community relations efforts are led by Michelle Tanguay who has over 25 years experience in indigenous and stakeholder engagement and environmental program design and management.
With approximately C$9 million in working capital, Ethos is well funded to advance its portfolio of Canadian projects.
Ethos Gold Corp.
Per: "Alex Heath"
Alex Heath, CFA, President and CEO
For further information about Ethos Gold Corp. or this news release, please visit our website at ethosgold.com or contact Alex Heath at 604-354-2491 or by email at alexh@ethosgold.com.
Ethos Gold Corp. is a proud member of Discovery Group. For more information please visit: discoverygroup.ca
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.
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