Gowest Gold Ltd V.GWA

Shares for Debt

[Tim2Agami]

Just as important as finding new reserves below ground is cleaning up the balance sheet above board. Although the barrels-full of shares is additionally liquid, the price is not a fire sale, and the debt will be extinguished without being deemed hosed (or hosers).

GOWEST GOLD LTD. ("GWA")
BULLETIN TYPE: Shares for Debt
BULLETIN DATE: June 30, 2023
TSX Venture Tier 2 Company

TSX Venture Exchange has accepted for filing the Company's proposal to issue 50,814,076 common shares in the capital of the Company at a deemed price of $0.135 per common share to settle outstanding debt for $6,859,900.24.

Number of Creditors: 2 Creditors

Non-Arm's Length Party / Pro Group Participation: N/A

The Company shall issue a news release when the shares are issued and the debt extinguished.

[Muskokawolf]

So now we have a clean slate from a finacial standpoint.  Now I will say something that hasn't been mentioned on this site, the elephant in the room.  Does anyone think in these days of careful language think that Chinese ownership is hindering our stock?

[Tim2Agami]

Well, the slate has improved, but not quite "clean" yet. At last report (Q2 ended 30 April) , there are still $19,944,068 in liabilities (which will change by the next report) and a pretty meaty accumulated deficit, but, with regularly increasing assets (proven and probable reserves now being drilled for), this is certainly evidence backing the "president's letter" of a

[Muskokawolf]

Tim, I like you numbers better than mine, that for taking the time to put it out there

[Tim2Agami]

More commentary and decimal refinement in today's (04 July) two news releases.   Maybe the name change from "Jin sheng da" ("Magnificent Gold") to the more prosaic "244 Ontario" reflects your concern about being "too Chinese", even if only Chinese sounding.  But the bottom line is still the bottom line in righting the vessel while the deck

[checkmate28]

Still have my head up and nose plugged but looking forweard to seeing what this North Timmins Bradshaw deposit has under the hood. Starting to spend some serious money so news should be coming