Gitennes Proposed Private Placement

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[{"type":"text","content":"Gitennes Proposed Private Placement\n \n \n (TheNewswire)\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Vancouver\n \n \n , B.C. -\n \n \n TheNewswire -\n \n \n December 5, 2023 -\n \n \n Gitennes\n \n \n Exploration Inc.\n(\"\n \n \n Gitennes\n \n \n \" or\nthe \"\n \n \n Company\n \n \n \")\n-\n \n \n (TSXV:GIT) announces\n \n \n that it is conducting a non-brokered private placement (the\n“Placement”) of up to 3\n \n \n 2,000,000 units\n(consisting of 17,000,000 non-flow-through units (“Units”) priced\nat $0.015 per Unit and 15,000,000 flow-through units (“FT Units”)\npriced at $0.02 per FT Unit).\n \n \n \n \n Each Unit consists of one\nnon-flow-through common share and one common share purchase warrant\n(“Warrant”).  Each Warrant shall be exercisable to acquire one\nCommon Share (a “Warrant Share”) at an exercise price per Warrant\nShare of $0.05 for a period of 24 months following the Closing\nDate\n \n \n .  Each FT Unit consists of one\nflow-through common share and one-half common share purchase warrant\n(“FT Warrant”).  Each whole FT Warrant shall be exercisable to\nacquire one Common Share (a “FT Warrant Share”) at an exercise\nprice per FT Warrant of $0.05 for a period of 24 months following the\nClosing Date. Finder’s Fees may be paid on the financing.\n \n \n \n \n The gross proceeds from the Units are to be used for\ngeneral working capital purposes but will not be used for Investor\nRelations.  The gross proceeds from the FT Units are intended to be\nused to incur Canadian Exploration Expenses that are “flow-through\nmining expenditures” (as such terms are defined in the Income Tax\nAct (Canada)) on the Company’s Quebec projects.\n \n \n \n \n All securities issued pursuant to the Placement are\nsubject to a four month and one day hold period in Canada.  The\nPlacement is subject to certain conditions including, but not limited\nto, the receipt of all necessary approvals including the approval of\nthe TSX Venture Exchange and any applicable securities regulatory\nauthorities.\n \n \n \n \n About Gitennes Exploration\nInc.\n \n \n \n \n Gitennes is in the business of exploring for and\nadvancing mineral properties The Company currently has three\nproperties...

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