Brossard (Quebec) - G.E.T.T Gold Inc. ("GETT" or the "Corporation") (TSX-V: GETT), is pleased to announce that its board of directors (the "Board") has authorized a plan to proceed with a consolidation of its outstanding common shares (each, a "Share") on the basis of ten (10) pre-consolidation Shares for each one (1) post-consolidation Share (the "Consolidation"). The Consolidation is subject to approval of the TSX Venture Exchange (the "Exchange"). The Corporation believes that the Consolidation is in the best interests of shareholders as it will allow the Corporation to more adequately finance its operations in the coming months.
As at the date hereof, there are a total of 214,046,143 Shares issued and outstanding. Assuming no other change to the issued and outstanding Shares, if the Consolidation is put into effect, a total of 21,404,614 Shares, subject to adjustments for rounding, would be issued and outstanding.
Furthermore, G.E.T.T. announces that its Board has approved a grant of an aggregate of 9,286,551 restricted share units ("RSUs") to certain directors, officers, consultants, and advisors of the Corporation, in accordance with the Corporation's Omnibus Equity Incentive Plan (the "Plan"). Each RSU entitles the recipient to receive one Share, or a cash payment equal to the equivalent for one Share, following the vesting period of the RSUs. The RSUs awarded will fully vest on the first anniversary of the date of grant. All the forgoing RSUs are subject to the terms of the Plan, the applicable grant agreement, and the requirements of the Exchange.
About G.E.T.T Gold
G.E.T.T Gold is active in the exploration and the development of gold resources in Quebec. G.E.T.T Gold also has an exclusive license for the Thermal Fragmentation mining method.
The company's growth strategy is based on:
• The commercialization and deployment of its thermal fragmentation technology.
• Increasing the value of mining assets through the implementation of its technology; and
• The acquisition and development of precious metal deposits with the objective of producing revenue from such assets.
Follow the link to view G.E.T.T Gold's new website www.gettgold.com
For additional information:
John Stella, Investor relations (514) 718-7976 jstella@gettgold.com
Fabien Miller, President & CEO (514) 892-1935 fmiller@gettgold.com
Neither 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 press release includes certain statements that may be deemed "forward-looking statements". Although the Corporation 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 or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward looking statements include the ability of G.E.T.T. obtain required regulatory approvals and to.
G.E.T.T Gold inc. 7055 Taschereau Blvd., suite 500, Brossard (Québec) J4Z 1A7
Tel: (450) 510-4442 www.gettgold.com
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