Xcite Resources made a cash payment of $35,000 and issued 750,000 common shares to Bullion Gold Resources Corp. under the Turgeon Lake Property purchase and sale agreement.
Vancouver, British Columbia, February 23, 2023 – XCITE RESOURCES INC. (“Xcite” or the “Company”)(CSE: XRI) is pleased to announce that, pursuant to its purchase and sale agreement (the “Agreement”) dated as of April 12, 2021, as amended, with Bullion Gold Resources Corp. (the “Bullion”) respecting the Company’s Turgeon Lake Property, the Company has made a cash payment of $35,000 and has issued an aggregate of 750,000 common shares of the Company to the Bullion. The shares were issued in accordance with applicable securities laws at a price of $0.10 per share and are subject to a four month hold period expiring June 24, 2023.
On Behalf of the Board of Directors
Chris Cooper
Chief Executive Officer
604.307.8290
Forward-Looking Information: Certain statements in this news release are forward-looking statements, including with respect to future plans, and other matters. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement, and the reader is cautioned not to place undue reliance on any forward-looking information.