Gitennes Exploration Inc. - AGM Results and Private Placement

VANCOUVER, Aug. 15, 2016 /CNW/ - Gitennes Exploration Inc. (TSXV – GIT) announces the results of its Annual and Special General Meeting held today in Vancouver.  Shareholders re-elected Ken Booth, Robert Matthews and Stuart Ross as directors of the Company and approved the Special Resolution for the continuance of the Company out of the Province of Ontario and to continue the Company into the Province of British Columbia. 

The Company also announces it will be undertaking a non-brokered private placement of up to 2.0 million flow through units at $0.025 per unit for gross proceeds of $50,000.  Each unit consists of one common share and one common share purchase warrant with each warrant exercisable at $0.05 for a period of 18 months from closing.  The private placement is subject to TSX Venture approval.  The Company will use the proceeds from the placement to fund upcoming exploration on its Project in the northern part of the Barkerville Gold Belt.  The first phase of exploration will include geophysics, mapping and soil sampling.  Ground geophysical surveys will consist of magnetics ("MAG") and electromagnetics ("EM"). 

Gitennes Exploration Inc.

Ken Booth

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.

This press release does not constitute an offer to sell or a solicitation to buy any of the securities of Gitennes in the United States.

SOURCE Gitennes Exploration Inc.

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