Vancouver, British Columbia--(Newsfile Corp. - December 24, 2022) - Great Republic Mining Corp. (CSE: GRM) (the "Company" or "Great Republic") announces that it has entered into an amendment to its property option agreement for the Porcher Property (the "Amendment"). Under the terms of the Amendment, the Company has agreed to issue an aggregate 150,000 shares to the property optionors (50,000 shares to each optionor) in consideration of the deferral of exploration expenditures to 2023, with $40,000 to be completed by March 1, 2023 and the balance of $60,000 by December 31, 2023.
The shares issued to the optionors bear a hold period of four months and one day from the date of issuance, and are subject to the Company's filing requirements with the CSE.
About Great Republic Mining Corp.
Great Republic is engaged in the business of acquiring and exploring mineral resource properties. Great Republic has an option to acquire a 100% interest in the Porcher Property, which is composed of nine contiguous mineral titles covering an area of 3560.4 hectares in the northwest part of British Columbia, Canada, approximately 40 kilometres southwest of the city of Prince Rupert on Porcher Island.
On Behalf of the Board of Directors
Jerry Huang
Chief Financial Officer and Director
For further information, please contact:
Jerry Huang
Chief Financial Officer and Director
Tel: 778-887-6489
Email: info@greatrepublic.ca
Disclaimer for Forward-Looking Information
Certain statements in this news release are forward-looking statements, which reflect the expectations of management regarding Great Repulic's exploration plans. Such statements are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits Great Republic will obtain from them. These forward-looking statements reflect management's current views and are based on certain expectations, estimates and assumptions which may prove to be incorrect. A number of risks and uncertainties could cause actual results to differ materially from those expressed or implied by the forward-looking statements. These forward-looking statements are made as of the date of this news release and the Company assumes no obligation to update these forward-looking statements, or to update the reasons why actual results differed from those projected in the forward-looking statements, except in accordance with applicable securities laws.
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