Guyana Goldstrike Updates Stakeholders on Gold Forward Purchase Agreement
Vancouver, July 15, 2020 - Guyana Goldstrike Inc. (the "Company" or "Guyana Goldstrike") (TSXV:GYA) (OTC:GYNAF) (FSE:1ZT) would like to update its shareholders on the Gold Forward Purchase Agreement (the "Agreement") signed with an arm's length investor (the "Investor") on January 24th, 2020 (see news releases dated January 27 and April 14, 2020 for details of the Agreement). The initial first tranche payment of US$2,000,000 required pursuant to the Agreement will now be completed after July 14, 2020 as a result of unforeseen banking delays.
Both the Investor and the Company remain fully committed to the Agreement and there are no other changes or amendments.
The first tranche payment is expected to complete shortly. The subsequent US$7,000,000 payment will be made in accordance with the terms of the Agreement.
The Company will provide further updates to stakeholders as the transaction progresses.
On behalf of the Board of Directors of
Peter Berdusco
President and Chief Executive Officer
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.
This news release may contain certain "Forward-Looking Statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and applicable Canadian securities laws. When used in this news release, the words "anticipate", "believe", "estimate", "expect", "target, "plan", "forecast", "may", "schedule" and other similar words or expressions identify forward-looking statements or information. These forward-looking statements or information may relate to future prices of commodities, accuracy of mineral or resource exploration activity, reserves or resources, regulatory or government requirements or approvals, the reliability of third party information, continued access to mineral properties or infrastructure, fluctuations in the market for gold, changes in exploration costs and government regulation in Guyana, status of artisanal mining activities and associated rights, and other factors or information. Such statements represent the Company's current views with respect to future events and are necessarily based upon a number of assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political and social risks, contingencies and uncertainties. Many factors, both known and unknown, could cause results, performance or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements. The Company does not intend, and does not assume any obligation, to update these forward-looking statements or information to reflect changes in assumptions or changes in circumstances or any other events affections such statements and information other than as required by applicable laws, rules and regulations.