Goldstar Minerals, Soon Green Mining Innovation Symbol GMI
November 07 2023 - 8:14AM
Goldstar Minerals Inc. (TSX-V : GDM) (the
"
Company") announces that the TSX Venture Exchange
(the "
TSX-V") has approved its previously
announced name change from "Goldstar Minerals Inc." to "Green
Mining Innovation". Starting on November 9, 2023, the stock will
trade under the symbol
GMI.
The new CUSIP number will be 39312G105, and the
new ISIN number will be CA39312G1054 under the new company name.
The company's share capital remains unchanged.
Company Update
The Company announces that the TSX Venture
Exchange ("TSX-V") has given approval for the
Company's previous announcement: (i) the non-brokered private
placement of 9 166 666 units (the "Placement")
which closed on August 15, 2023, for a total gross proceeds of $550
000 (press release issued on August 18, 2023, for more
details);
and (ii) the purchase and sale agreement (the
"Acquisition Agreement") dated January 27, 2023,
as amended, under which the Company acquired (the
"Acquisition") a 100% interest in the I.M.V.
Project on August 15, 2023, in exchange for the issuance of 18 000
000 common shares (each being a "Share") of the
Company (press releases issued on May 11 and August 18, 2023, for
more details).
The Company paid a finder's fee of 900 000
Shares in connection with the Acquisition.
An insider of the Company subscribed for a total
of 1 185 000 units under the Placement, which constituted a
"related party transaction" within the meaning of Regulation 61-101
Protection of Minority Security Holders in Special Transactions
("MI 61-101").
The issuances to the insider are exempt from the
valuation requirement of MI 61-101 by virtue of the exemption
contained in Section 5.5(b) since the Company's shares are not
listed on a specified market, and from the requirement for minority
shareholder approval of MI 61-101 pursuant to the exemption in
Section 5.7(a) of MI 61-101, in that the fair market value of the
consideration for the securities issued to related parties does not
exceed 25% of the Company's market capitalization.
The Company has not filed a material change
report more than 21 days before the expected closing of the
Placement and the Acquisition, as the details of the transactions
and the participation of the Company's insiders were only settled
shortly prior to closing and the Company wanted to close the
transactions quickly for sound business reasons.
About Goldstar
Goldstar is a mineral exploration company
dedicated to exploration in Canada with a real concern for
environmental protection. Its 4 main properties are located in
Quebec and Newfoundland in Canada, regions recognized worldwide for
their content of significant deposits of base metals and precious
metals.
Technology and environment at the heart
of Green Mining Innovation’s development
Mr. Alexandru Arhire, following
the announcement of a new position in West Africa, will not be able
to serve as a director on the board but will remain as a consultant
for upcoming construction phases.
Mr. Louis Marcoux has been
appointed Chairman of the Board.Mr. Marcoux holds a degree in
mining engineering from Laval University and has over 40 years of
experience in the mining industry in Quebec. He specializes in the
application of laws governing the mining sector in Quebec and has
advanced expertise in implementing mine site restoration
technologies and environmental standards. Mr. Marcoux has held the
position of Expert Engineer at the Ministry of Natural Resources of
Quebec (MERN).
Mr. Pierro Chicoine will be
responsible for new technologies, and in order to optimize
productivity, the Company has tasked him with improving
communication and collaboration among work teams while ensuring
secure and efficient data management. His expertise is expected to
drive innovation in a constantly evolving world.
Mr. Chicoine has been granted 200 000 stock
options (the “Options”) to purchase Shares. The
Options are best on the date of issuance and are exercisable for a
period of 5 years from the date of the grant at an exercise price
of $0.11 per Share.
Link to the site,
management,https://greenmininginnovation.ca/en/gestionnaires/
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For more information please contact
:
André
Gagné
CEO
TSX-V :
GDM
581-983-6815 info@greenmininginnovation.ca
Disclaimer
“ Neither TSX Venture Exchange nor its Regulation
Services Provider accepts responsibility for the adequacy or
accuracy of this release.”
This press release contains "forward-looking
information" within the meaning of applicable securities laws. This
information is based on the current expectations, estimates,
forecasts, and projections of the management of Green Mining
Innovation. Statements about future projects, including their
environmental impact, profitability, and production expectations,
are forward-looking information. Although the Company believes that
the expectations expressed in this forward-looking information are
based on reasonable assumptions, this information is not a
guarantee of future performance, and current results or realities
may materially differ from those anticipated in the forward-looking
information.
Any investment in the company carries risks that
should be independently assessed by each investor. Green Mining
Innovation assumes no obligation to update or revise any
forward-looking information, whether as a result of new
information, future events, or otherwise, except as required by
applicable securities laws.
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