NOT FOR DISTRIBUTION TO UNITED STATES WIRE SERVICES OR FOR DISTRIBUTION IN THE UNITED STATES
VANCOUVER, British Columbia, November 02, 2021 (GLOBE NEWSWIRE) – Clarity Gold Corp. (“Clarity“or the”Society“) (CSE: CLAR, OTC: CLGCF, FSE: 27G) is pleased to announce its intention to launch a public tender offer (“NCIB“) to purchase up to 1,400,000 common shares of the Company (each a”Ordinary share“) and through the Canadian Securities Exchange (the”CSE“).
Pursuant to this normal course issuer bid, the Company may purchase up to 1.4 million common shares on the open market, effective November 10 and may extend over a period of period of 12 months, and representing approximately 5% of the issued and outstanding shares. .
The actual number of shares purchased, the timing of purchases and the price of the shares will depend on market conditions and in accordance with CSE policy guidelines. If management decides that it has a better use of these funds to increase shareholder value, it has no obligation to continue buying shares in the open market. Leede Jones Gable Inc. has been appointed to make purchases under the NCIB program on behalf of the Company.
The Company believes that the purchases of shares under the public tender offer will help facilitate an orderly market and will be in the best interests of the Company and its shareholders. In the event that Clarity believes that its common shares begin to trade within a price range that does not adequately reflect their underlying value based on the business outlook and financial condition of the Company, Clarity may purchase shares in accordance with takeover bid and in accordance with CSE rules, policies and guidelines. Based on future price movements and other factors, Clarity believes that its outstanding common shares represent an attractive investment and a desirable use of a portion of its corporate funds.
Purchases subject to this public tender offer will be made pursuant to open market transactions through the facilities of the CSE and any other available market and alternative trading system in Canada by a broker on behalf of the Company in accordance with the applicable regulatory requirements. All common shares purchased by the Company under the public tender offer will be returned for cash and canceled.
To the knowledge of the Company, no director, senior officer or other insider of the Company currently intends to sell common shares under this offer. However, sales by such persons through the CSE or any other available market or alternative trading system in Canada may take place if that person’s personal circumstances change or if such person makes a decision unrelated to such purchases. in the normal course. The benefits for such a person whose shares are purchased would be the same as the benefits available to all other holders whose shares are purchased.
This press release does not constitute an offer to sell or a solicitation of an offer to buy any securities in the United States. The titles have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Law“), or any state securities law and may not be offered or sold in the United States or to or on behalf of or for the benefit of a United States person (as defined in Regulation S under US Securities Act) unless registered under the US Securities Act and applicable state securities laws or an exemption from such registration is available.
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, the flagship asset of Clarity, a gold project in the mineral-rich region of Abitibi in Quebec. The Company is based in Vancouver, British Columbia and is listed on 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
Chief Executive Officer
Phone. : 1 (833) 387-7436
Email: [email protected]
CAUTION REGARDING FORWARD-LOOKING INFORMATION:
This press release contains forward-looking statements. All statements, other than statements of historical fact that deal with activities, events or developments that the Company believes, expects or anticipates will occur or may occur in the future, are forward-looking statements. Forward-looking statements contained in this press release include statements regarding: the expectation that the Company will conduct a normal course issuer bid and purchase the maximum number of common shares permitted hereunder, as described in this press release; and other corporate business plans.
Forward-looking statements reflect management’s current expectations based on information currently available and are subject to a number of risks and uncertainties that may cause results to differ materially from those discussed in forward-looking statements, including: that the Company may not have sufficient capital to buy the maximum or any share within the framework of the public buyback offer in the normal course of activities; that drilling may not proceed as planned or may start on time; that the Company may encounter difficulties in drilling and carrying out related work; changes in extraction and processing costs; increased investment costs; the timing and content of future work programs; drilling-based geological interpretations that may change with more detailed information; the risk that the Company will lose access to any of its properties; the risks that the Company will not find any ore in commercially feasible quantities; that the Company may not raise enough money to finance its exploration plans; the uncertainty of development plans and cost estimates; fluctuations in commodity prices; political or economic instability and regulatory changes; currency fluctuations; the state of capital markets; uncertainty in the measurement of mineral reserves and resource estimates; the Company’s ability to attract and retain qualified personnel and management; potential social unrest; uncertainty over the reclamation and closure requirements of its mining properties; unforeseeable risks and dangers associated with the exploration, development and operation of a mine or a mining property which are beyond the control of the Company; and other risks and uncertainties identified under the heading âRisk Factorsâ in the Company’s continuous disclosure documents filed on SEDAR. Although the Company believes that the assumptions inherent in forward-looking statements are reasonable, forward-looking statements are not guarantees of future performance and, therefore, such statements should not be relied upon due to their inherent uncertainty. Factors that could cause actual results or events to differ materially from current expectations include general market conditions and other factors beyond the control of the Company. The Company expressly disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by applicable law.
Neither the Canadian Securities Exchange (operated by CNSX Markets Inc.) nor its regulatory services provider has reviewed or accepted responsibility for the accuracy or relevance of this release.