VANCOUVER, Feb. 13, 2012 /CNW/ - Gitennes Exploration Inc. (TSXV: GIT) announces that further to its news release dated January 23, 2012
regarding the sale of a 40% interest in the Urumalqui silver - gold
Project to AndeanGold Ltd. it has received conditional approval from
the TSX Venture Exchange and also received notice that it will not be
required to hold a shareholder meeting to approve the transaction.
AndeanGold will continue with its administrative due diligence and the
parties will now proceed to sign a Share Sale and Mining Agreement
The Company also announces that it has granted an aggregate of 850,000
incentive stock options with an exercise price of $0.05 per share to
directors and officers. The options are being granted pursuant to the
Company's stock option plan and are for a five year term. The stock
option grant is subject to acceptance by the TSX Venture Exchange.
Information about all of Gitennes' projects may be found by visiting www.gitennes.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.
DISCLAIMER: This news release includes certain statements, other than
historical information, that may be deemed "forward-looking
statements". All statements in this release, other than statements of
historical facts, including, without limitation, statements regarding
future plans and objectives of the companies are forward-looking
statements that involve various risks and uncertainties. Although
Gitennes 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 the forward-looking statements.
Forward-looking statements are based on a number of material factors
and assumptions. Factors that could cause actual results to differ
materially from those in forward-looking statements include general
economic, market or business conditions, and other risks detailed
herein and from time to time in the filings made by the companies with
securities regulators. Mineral exploration and development of mines is
an inherently risky business. Accordingly the actual events may differ
materially from those projected in the forward-looking statements.
Historical information necessarily is not current and is provided for
your reference only. No warranty whatsoever is made that any of the
historical information is accurate, precise, or up-to-date. For more
information on Gitennes and the risks and challenges of their
businesses, investors should review their annual filings that are
available at www.sedar.com.
This press release does not constitute an offer to sell or a
solicitation to buy any of the securities of Gitennes in the United
SOURCE Gitennes Exploration Inc.
For further information:
604 682 7970