SCOTTSDALE, Ariz., Nov. 27, 2019 (GLOBE NEWSWIRE) -- TriStar Gold Inc. (the Company or TriStar) is pleased to announce that its Board of Directors has appointed Rod McKeen as an independent director of TriStar. Rod McKeen is a retired lawyer with over 35 years of experience in all facets of securities and corporate law, with a focus on the mining and mineral exploration industry. Rod has significant expertise in corporate governance, and has previously served on a number of public company boards over the years including International Minerals and Queenstake Resources. Rod will replace Len Krol, who has resigned as a director of TriStar, so the number of directors remains unchanged at six.
Mr. Nick Appleyard, President and CEO stated “We would like to thank Len for his nine years of work and dedication to TriStar and wish him all the best in his retirement. Likewise, we are very happy to welcome Rod to the board. His experience and knowledge will be a great asset to us.”
Royal Gold Inc. has confirmed that it will make the second installment payment of US$1.5 million to Tristar by November 30, 2019, pursuant to the royalty sale agreement announced in the Company’s press release dated August 6, 2019. In accordance with the agreement, upon receipt of the second installment Tristar will grant Royal Gold 3,928,000 stock purchase warrants.
TriStar has also granted, subject to TSX Venture Exchange (“TSXV”) approval, an aggregate of 2,710,000 stock options to certain officers, directors, employees and consultants in accordance with the Company’s current stock option plan. The options are exercisable for a period of 5 years to acquire common shares of TriStar at an exercise price of C$0.20 per share, which represents the closing price on the TSXV on November 26, 2019.
TriStar Gold is an exploration and development company focused on precious metals properties in the Americas that have the potential to become significant producing mines. The Company’s current flagship property is Castelo de Sonhos in Pará State, Brazil. The Company’s shares are listed on the TSX Venture Exchange under the symbol TSG and on the OTCQB under the symbol TSGZF. Further information is available at www.tristargold.com.
On behalf of the board of directors of the company:
President and CEO
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TriStar Gold Inc.
President and CEO
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. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
Certain statements contained in this press release may constitute forward-looking statements under Canadian securities legislation which are not historical facts and are made pursuant to the "safe harbour" provisions under the United States Private Securities Litigation Reform Act of 1995. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “expects” or “it is expected”, or variations of such words and phrases or statements that certain actions, events or results “will” occur. Forward looking statements in this press release include statements regarding the anticipated advance of the second installment payment by Royal Gold, and the issuance of warrants to royal gold... Such forward-looking statements are based upon the Company's reasonable expectations and business plan at the date hereof, which are subject to change depending on economic, political and competitive circumstances and contingencies. Readers are cautioned that such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause a change in such assumptions and the actual outcomes and estimates to be materially different from those estimated or anticipated future results, achievements or position expressed or implied by those forward-looking statements. Risks, uncertainties and other factors that could cause the Company's plans to change include changes in demand for and price of gold and other commodities (such as fuel and electricity) and currencies; changes or disruptions in the securities markets; legislative, political or economic developments in Brazil; the need to obtain permits and comply with laws and regulations and other regulatory requirements; the possibility that actual results of work may differ from projections/expectations or may not realize the perceived potential of the Company’s projects; risks of accidents, equipment breakdowns and labour disputes or other unanticipated difficulties or interruptions; the possibility of cost overruns or unanticipated expenses in development programs; operating or technical difficulties in connection with exploration, mining or development activities; the speculative nature of gold exploration and development, including the risks of diminishing quantities of grades of reserves and resources; and the risks involved in the exploration, development and mining business. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. The Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by applicable securities laws.