VANCOUVER, British Columbia, April 19, 2024 (GLOBE NEWSWIRE) -- Great Pacific Gold Corp. ("Great Pacific Gold,” “GPAC,” or the "Company") (TSXV: GPAC) (OTCQX: FSXLF) (Germany: V3H) announces that it has been requested by OTC Markets Group Inc. (“OTC Markets”) to issue this statement about promotional activity concerning its common shares traded on the OTCQX market (operated by OTC Markets).
On April 15, 2024, OTC Markets informed the Company that it became aware of certain promotional activities concerning the Company and its common shares traded on the OTCQX Marketplace, which newsletters were prepared by Gold Standard Media, LLC (“Gold Standard”) and its affiliates (Future Money Trends LLC, Wealth Research Group LLC and Portfolio Wealth Group LLC) (the “GSM Group”). On April 12, 2024, the Company announced the entry into an investors relations agreement with GSM Group to raise awareness of the Company’s shares among investors. The Company was therefore aware of the GSM Group’s activities respecting the Company since April 12, 2024. Accordingly, the materials prepared By the GSM Group were paid for by the Company through its engagement of GSM Group.
With respect to other investor relations service providers engaged by the Company within the last 12 months, , the Company has continued to use Highland Contact and Clarkham Capital (together with Golden Standard and its affiliates (the “Service Providers”), which entities have been engaged since the Company’s initial public offering on April 14, 2020.
The Company provided the GSM Group with publicly available sources of information for its marketing materials and management reviewed and commented on the materials prepared by the GSM Group prior to their dissemination, including to ensure factual accuracy. The Company does not believe any of the statements in the marketing materials prepared by the GSM Group were materially false or misleading.
A significant increase in the trading volume of the Company’s common shares was noted by OTC Markets on April 15 2024. The Company understands certain promotional activity coincided with increased trading activity in its common shares beginning on April 15, 2024. However, the Company does not believe the promotional activities were the primary factor in any increase in trading volume in its common shares. Rather, on April 15, 2024, the Company announced a significant acquisition to acquire the highly prospective Tinga Valley property, located in Papua New Guinea. The Company believes that the proposed acquisition is the primary factor in the increased trading volume.
After inquiry amongst the Company’s management, directors and control persons, none of the Company’s management, directors or control persons have sold or purchased the Company’s securities within the past 90 days except for an on market purchase by Bryan Slusarchuk and an on market sale by an entity controlled by Mr. Slusarchuk. After an inquiry amongst the Service Providers, to management’s knowledge, none of the Service Providers have sold securities of the Company within the past 90 days.
The Company has not at any point issued shares or convertible instruments allowing conversion to equity securities at prices constituting a discount to the current market rate at the time of the issuance.
About GPAC
Great Pacific Gold has a portfolio of high-grade gold projects in Papua New Guinea (“PNG”) and Australia.
In PNG, Great Pacific Gold recently acquired a significant 2,166 sq. km mineral exploration land package in PNG. The land package comprises of exploration licenses (EL) and exploration license applications (ELA). It includes both early-stage and advanced-stage exploration targets with high-grade epithermal vein and porphyry-style mineralisation present.
The Arau Project consists of two exploration licenses, located in the Kainantu region, and includes the Mt. Victor Prospect, where previous drilling found a multiple phase intrusion complex hosting copper and gold mineralisation.
The Wild Dog Project consists of one granted exploration license, EL 2761, and one exploration license application, ELA 2516, located on the island of New Britain and about 50 km southwest of Rabaul and Kokopo, PNG.
The Kesar Creek Project consists of one exploration license, EL 2711, and is contiguous with the K92 Mining Inc. tenements.
In Australia, Great Pacific Gold began with two, 100% owned, high-grade gold projects called the Lauriston and Golden Mountain Projects, and has since acquired a large area of granted and application tenements containing further epizonal (low-temperature) high-grade gold mineralisation and associated intrusion-related gold mineralization all in the state of Victoria, Australia. The Great Pacific Gold land package, assembled over a multi-year period, notably includes the Lauriston Project which is a 535 sq. km property immediately to the south of and within the same geological framework that hosts Agnico Eagle Mines Ltd’s Fosterville Gold Mine and associated exploration tenements. The Golden Mountain Project is an intrusion-related gold project on the edge of the Strathbogie granite and occurs at the northern end of the Walhalla Gold Belt. The acquired projects include the epizonal gold Providence Project containing the Reedy Creek goldfield which adjoins the Southern Cross Gold’s Sunday Creek exploration project and a large group of recently consolidated granted tenements called the Walhalla Gold Belt Project, which contain a variety of epizonal and intrusion related style gold mineralisation. Additionally, Great Pacific Gold has another gold-focused project called the Moormbool project which has epizonal style gold mineralisation and associated potential intrusion-related gold mineralisation, as well as the Beechworth Project occurs in the northeast of the state and contains intrusion related and mesozonal gold mineralization.
All GPAC’s properties in Australia are 100% owned and have had historical gold production from hard rock sources despite limited modern exploration and drilling.
On behalf of GPAC
Bryan Slusarchuk
Chief Executive Officer and Director
Forward-Looking Statements
Information set forth in this news release contains forward-looking statements that are based on assumptions as of the date of this news release. These statements reflect management's current estimates, beliefs, intentions and expectations. They are not guarantees of future performance. Great Pacific Gold cautions that all forward looking statements are inherently uncertain and that actual performance may be affected by many material factors, many of which are beyond their respective control. Such factors include, among other things: risks and uncertainties relating to Great Pacific Gold's limited operating history, its exploration and development activities on its mineral properties and the need to comply with environmental and governmental regulations. Accordingly, actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward looking information. Except as required under applicable securities legislation, Great Pacific Gold does not undertake to publicly update or revise forward-looking information.
Neither 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.
For further information: Adam Ross, Investor Relations, Direct: (604) 229-9445, Toll Free: 1 (833) 923-3334, Email: info@greatpacificgoldcorp.com
