Goldcliff Announces Loan Agreement and Issuance of Bonus Shares
October 12 2022 - 2:40PM
Goldcliff Resource Corporation (“Goldcliff” or the “Company”) (GCN:
TSX.V, GCFFF: OTCBB PINKS) reports that it has entered into a loan
agreement (the “Loan Agreement”) with George Sanders, the
President, Chief Executive Officer and a director of the Company
(the “Lender”) for an amount of $175,000 (the “Loan”). Proceeds
from the Loan will be used for working capital purposes.
The interest-free Loan will mature on September 7, 2023. As
consideration for providing the Loan, the Company has agreed
to issue 700,000 common shares of the Company (the
“Bonus Shares”) to the Lender at a deemed price of $0.05 per
Bonus Share. All Bonus Shares will be subject to a four month
hold period from the date of issuance in accordance with
applicable securities law.
The Loan Agreement and the Bonus Shares are subject to the
acceptance of the TSX Venture Exchange.
For further information, please contact George W. Sanders,
President, at 250-764-8879, toll free at 1-866-769-4802 or
email at info@directroyalty.com.
GOLDCLIFF RESOURCE CORPORATION
Per: “George W. Sanders”
George W. Sanders, President
Neither TSX Venture Exchange nor its Regulation
Service Provider (as that term is defined in the policies of the
TSX Venture Exchange) accept responsibility for the adequacy or the
accuracy of this news release.
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