(TheNewswire)
Montreal, Canada / TheNewswire / April 2, 2019 – ALGOLD RESOURCES LTD. (TSXV: ALG – “Algold” or the “Corporation”) announces the granting of 1,844,317 deferred share units (“DSUs”) to its directors and officers. Each DSU was granted at a price of $0.22, the closing price of the Corporation’s common shares on the TSX Venture Exchange (the “TSXV”) on March 29, 2019. These issuances were made under the Corporation’s deferred share unit plan. Of the DSUs, 412,500 were granted to management in lieu of forgone regular cash compensation. The remaining DSUs were granted to directors in lieu of cash compensation.
Algold also announces the issuance, at a price of $0.17 each, of 204,375 common shares in exchange for services rendered and of 146,403 common shares in settlement of a debt in the amount of $24,889. These issuances remain subject to final TSXV approval.
Finally, Algold announces that Kanosak Barbados Ltd., its wholly owned subsidiary, disposed in 2018 of its 88% interest in Société Mauritanienne d'Exploration, the company holding the exploration rights to the Kneivissat property, in favor of Wafa Mining and Petroleum SA in exchange for the cancellation of a debt in the amount of US$200,000. This transaction remains subject to final TSXV approval.
ABOUT ALGOLD
Algold Resources Ltd is focused on the exploration and development of gold deposits in West Africa. The board of directors and management team are seasoned resource industry professionals with extensive experience in the exploration and development of world-class gold projects in Africa.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
For further information, please contact:
Algold Resources Ltd.
1320, boul. Graham, bureau 132, Mont-Royal, Québec, H3P 3C8, www.algold.com
Benoit LaSalle, FCPA, FCA Alex Ball
Chairman and Chief Executive Officer Executive VP, Finance and Corporate Development
b.lasalle@algold.com a.ball@algold.com
+1 (514) 951-4411 +1 (647) 919 2227
Copyright (c) 2019 TheNewswire - All rights reserved.