04:30:59 EDT Tue 01 Jul 2025
Enter Symbol
or Name
USA
CA



GK Resources Ltd
Symbol NIKL
Shares Issued 24,076,876
Close 2024-07-30 C$ 0.04
Market Cap C$ 963,075
Recent Sedar Documents

GK Resources arranges $199,197 shares for debt deal

2024-08-19 17:57 ET - News Release

Subject: GK Resources - News release for immediate dissemination Word Document

File: '\\swfile\EmailIn\20240819 144544 Attachment NIKL - News Release announcing Shares for Debt Transaction.docx'

- 2 -

4100.001\0143

FOR IMMEDIATE RELEASE August 19, 2024

GK RESOURCES ANNOUNCES SHARES FOR DEBT TRANSACTION

Vancouver, British Columbia (August 19, 2024) - GK Resources Ltd. (TSX-V: NIKL.H) ("GK" or the "Company") is pleased to announce that it will enter into debt settlement agreements to settle outstanding debt in the amounts of approximately $199,197.17 (the "Debt") owing to certain consultants and arm's-length creditors of the Company, by issuing 4,426,603 common shares in the capital of the Company (the "Shares") at a deemed price of $0.045 per Share (the "Shares-for-Debt Transaction"), to the creditors. The board of directors has determined that it is in the best interests of the Company to settle the outstanding Debt by the issuance of Shares in order to preserve the Company's cash for ongoing operations.

Closing of the Shares-for-Debt Transaction is subject to customary closing conditions, including the approval of the NEX Board of the TSX Venture Exchange (the "Exchange"). The Company intends to close the Shares-for-Debt Transaction as soon as practicable. The Shares to be issued pursuant to the Shares-for-Debt Transaction will be subject to a hold period of four (4) months and one (1) day from the date of issuance.

Contact Information: For more information and to sign-up to the mailing list, please contact:

Grant Tanaka

Chief Financial Officer

Tel: (604) 802-2220

Email: jhanson@gkresourcesltd.com

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.

Cautionary Note Regarding Forward-Looking Statements

This news release contains "forward-looking information" and "forward-looking statements" (collectively, "forward-looking statements") within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as "expects", or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: general business, economic, competitive, political and social uncertainties; and the delay or failure to receive approval from the Exchange. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this news release. Except as required by law, the Company assumes no obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by law.

PDF Document

File: Attachment NIKL - News Release announcing Shares for Debt Transaction.pdf

FOR IMMEDIATE RELEASE August 19, 2024

GK RESOURCES ANNOUNCES SHARES FOR DEBT TRANSACTION

Vancouver, British Columbia (August 19, 2024) GK Resources Ltd. (TSX-V: NIKL.H) ("GK" or the "Company") is pleased to announce that it will enter into debt settlement agreements to settle outstanding debt in the amounts of approximately $199,197.17 (the "Debt") owing to certain consultants and arm's-length creditors of the Company, by issuing 4,426,603 common shares in the capital of the Company (the "Shares") at a deemed price of $0.045 per Share (the "Shares-for-Debt Transaction"), to the creditors. The board of directors has determined that it is in the best interests of the Company to settle the outstanding Debt by the issuance of Shares in order to preserve the Company's cash for ongoing operations.

Closing of the Shares-for-Debt Transaction is subject to customary closing conditions, including the approval of the NEX Board of the TSX Venture Exchange (the "Exchange"). The Company intends to close the Shares-for-Debt Transaction as soon as practicable. The Shares to be issued pursuant to the Shares-for-Debt Transaction will be subject to a hold period of four (4) months and one (1) day from the date of issuance.

Contact Information: For more information and to sign-up to the mailing list, please contact:

Grant Tanaka Chief Financial Officer Tel: (604) 802-2220 Email: jhanson@gkresourcesltd.com

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. - 2 -

Cautionary Note Regarding Forward-Looking Statements

This news release contains "forward-looking information" and "forward-looking statements" (collectively, "forward-looking statements") within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking statements and are based on expectations, estimates and projections as at the date of this news release. Any statement that involves discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as "expects", or "does not expect", "is expected", "anticipates" or "does not anticipate", "plans", "budget", "scheduled", "forecasts", "estimates", "believes" or "intends" or variations of such words and phrases or stating that certain actions, events or results "may" or "could", "would", "might" or "will" be taken to occur or be achieved) are not statements of historical fact and may be forward-looking statements. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: general business, economic, competitive, political and social uncertainties; and the delay or failure to receive approval from the Exchange. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on the forward-looking statements and information contained in this news release. Except as required by law, the Company assumes no obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by law.

© 2025 Canjex Publishing Ltd. All rights reserved.