GTA Resources and Mining Inc. Announces Receipt of Loan and Expressions of Interest on Its Assets
Burlington, October 30, 2018 - Further to its press release of October 17, 2018 GTA Resources and Mining Inc. ("GTA") (TSXV: GTA) announces the execution of formal documentation for the previously announced loan (the "Loan") from an arm's length party (the "Lender"). Further to the formal documentation, GTA been advanced $275,000 (two hundred seventy-five thousand dollars) from the Lender. The terms of the Loan are set out in the October 17 press release.
GTA on October 19, 2018 announced it had signed a letter of intent (the "Sale Agreement") to sell all its mining assets (the "Assets") to CBLT Inc., a non-arm's length party. There is no standstill agreement or break fee in the Sale Agreement, and as a result, GTA has since that date received other expressions of interest relating to the sale of all or part of the Assets. GTA encourages any person interested in acquiring all or any part of the Assets to submit a written expression of interest for consideration by GTA, who may come to terms with any offering party at any time without further notice.
ABOUT GTA RESOURCES - GTA is a publicly traded mineral exploration company with roughly 51,000,000 shares outstanding.
On behalf of the board of directors,
GTA Resources and Mining Inc.
"Peter M. Clausi"
President and CEO
+1 289-288-3255
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 press release.
This press release contains forward-looking statements and forward-looking information (collectively, "forward looking statements") within the meaning of applicable Canadian and United States securities laws. All statements, other than statements of historical fact, included herein, including statements regarding the anticipated content, commencement, duration and cost of exploration programs, anticipated exploration program results, the discovery and delineation of mineral deposits/resources/reserves, the timing of the receipt of assay results, and business and financing plans and trends, are forward-looking statements. Forward-looking statements are typically identified by words such as: believe, expect, anticipate, intend, estimate, postulate and similar expressions or are those which, by their nature, refer to future events. Although the Company believes that such statements are reasonable, there can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. The Company cautions investors that any forward-looking statements by the Company are not guarantees of future performance, and that actual results may differ materially from those in forward-looking statements. Important factors that could cause actual events and results to differ materially from the Company's expectations include those related to weather, equipment and staff availability; performance of third parties; risks related to the exploration stage of the Company's projects; market fluctuations in prices for securities of exploration stage companies and in commodity prices; and uncertainties about the availability of additional financing; risks related to the Company's ability to identify one or more economic deposits on the properties, and variations in the nature, quality and quantity of any mineral deposits that may be located on the properties; risks related to the Company's ability to obtain any necessary permits, consents or authorizations required for its activities on the properties; and risks related to the Company's ability to produce minerals from the properties successfully or profitably. Trading in the securities of the Company should be considered highly speculative. All of the Company's public disclosure filings may be accessed via www.sedar.com and readers are urged to review these materials, including the latest technical reports filed with respect to the Company's mineral properties.
This press release is not, and is not to be construed in any way as, an offer to buy or sell securities in the United States.