News Release – Vancouver, British Columbia – March 1, 2022: GSP Resource Corp. (TSX-V: GSPR) (FRA: 0YD) (the “Company” or “GSP”) announces that it has filed an application with the TSX Venture Exchange (“TSX-V”) to amend the terms of certain share purchase warrants of the Company originally issued on May 21, 2020.
A total of 1,364,920 share purchase warrants were originally issued by the Company pursuant to the closing of a private placement on May 21, 2020. Each share purchase warrant entitles the holder to purchase one common share of the Company at a price of $0.20 per common share. A total of 1,184,753 of these share purchase warrants (“Warrants”) remain outstanding as of the date hereof and are scheduled to expire on May 21, 2022.
The Company is seeking the approval of the TSX-V to reduce the exercise price of the Warrants to $0.16 per common share and to extend the expiry date of the Warrants to February 21, 2023. All other terms of the Warrants remain the same. None of the Warrants are held by insiders of the Company.
The amendments are subject to the approval of the TSX-V.
About GSP Resource Corp.: GSP Resource Corp. is a mineral exploration & development company focused on projects located in Southwestern British Columbia. The Company has an option to acquire a 100% interest and title to the Alwin Mine Copper-Gold-Silver Property in the Kamloops Mining Division. GSP also owns 100% of the Olivine Mountain Property in the Similkameen Mining Division of which Full Metal Minerals Ltd. has an option to earn a 60% interest.
Contact Information – For more information, please contact:
Simon Dyakowski, Chief Executive Officer & Director
Tel: (604) 619-7469
Email: simon@gspresource.com
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 news release.
Forward Looking Information
This news release contains “forward‐looking information or statements” within the meaning of applicable securities laws, which may include, without limitation, statements that address the TSX-V approval of the amendments to the Warrants, the technical, financial and business prospects of the Company, its projects and other matters. All statements in this news release, other than statements of historical facts, that address events or developments that the Company expects to occur, are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Such statements are based on numerous assumptions regarding present and future business strategies and the environment in which the Company will operate in the future, including the price of metals, the ability to achieve its goals, that general business and economic conditions will not change in a material adverse manner and that financing will be available if and when needed and on reasonable terms. Such forward-looking information reflects the Company’s views with respect to future events and is subject to risks, uncertainties and assumptions, including the risks and uncertainties relating to the interpretation of exploration results, risks related to the inherent uncertainty of exploration and cost estimates and the potential for unexpected costs and expenses and those other risks filed under the Company’s profile on SEDAR at www.sedar.com. Factors that could cause actual results to differ materially from those in forward looking statements include, but are not limited to, continued availability of capital and financing and general economic, market or business conditions, failure to secure personnel and equipment for work programs, adverse weather and climate conditions, failure to maintain all necessary government permits, approvals and authorizations, the impact of Covid-19 or other viruses and diseases on the Company’s ability to operate, decrease in the price of copper and other metals, failure to maintain community acceptance (including First Nations), increase in costs and litigation. The Company does not undertake to update forward‐looking statements or forward‐looking information, except as required by law.
