Fabled Silver Gold Corp Reports Termination of Letter of Intent for Acquisition of Mecatona Property and Transfer to the NEX
Vancouver, February 7, 2024 - Fabled Silver Gold Corp. ("Fabled" or the "Company") (TSXV:FCO); (OTC:FBSGF), and (FSE:7NQ) wishes to announce that it has mutually terminated its letter of intent with Kootenay Silver Inc. (TSXV: KTN) ("Kootenay") with respect to the proposed acquisition the Mecatona Property, as first announced in its press release dated February 21, 2023.
Following a review process by the Company's board of directors, and consultation with Kootenay and the TSX Venture Exchange (the "Exchange"), the Company has determined that is unable to obtain suitable financing to meet the requirements of the Exchange with respect to the acquisition.
The Company would like to thank Kootenay for its cooperation during this time.
Fabled also announces that it has terminated its previously announced private placement, as described in its news release dated May 18, 2023.
No subscriptions were closed pursuant to the private placement and therefore no cash sums were raised or securities issued.
Transfer to the NEX
Fabled further announces that it has applied to and received the acceptance of the Exchange to be transferred to the NEX board of the Exchange and resume trading thereon effective February 12, 2024 (the "Effective Date"). The transfer to the NEX is as a result of the Company's inability to meet continued listing requirements for a TSX Venture Exchange Tier 2 issuer in accordance with Exchange Policy 2.5.
The Company's trading symbol will change from FCO to FCO.H on the Effective Date as a result of the transfer. There is no change in the Company's name or CUSIP number.
The Company intends to begin reviewing opportunities that will qualify the Company to return to trading on the TSX Venture Exchange in future.
About Fabled Silver Gold Corp.
Fabled Silver Gold Corp. is a publicly traded company which formerly operated as a mining exploration company but is currently focused on identifying new opportunities.
Mr. Peter J. Hawley, President and C.E.O.
Phone: (819) 316-0919
Neither the TSX Venture Exchange nor its Regulations Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
Cautionary Note Regarding Forward-Looking Information
Certain statements contained in this news release constitute "forward-looking information" as such term is used in applicable Canadian securities laws. Forward-looking information is based on plans, expectations and estimates of management at the date the information is provided and is subject to certain factors and assumptions, including, that the Company's financial condition and development plans do not change as a result of unforeseen events and that the Company obtains any required regulatory approvals. Forward-looking information includes statements that are not historical facts and are generally, but not always, identified by the words "expects," "plans," "anticipates," "believes," "intends," "estimates," "projects," "potential" and similar expressions, or that events or conditions "will," "would," "may," "could" or "should" occur.
Forward-looking information in this document includes statements concerning the Company's intention to complete the Proposed Acquisition and all other statements that are not statements of historical fact.
Forward-looking information is subject to a variety of risks and uncertainties and other factors that could cause plans, estimates and actual results to vary materially from those projected in such forward-looking information. Some of the risks and other factors that could cause results to differ materially from those expressed in the forward-looking statements include, but are not limited to: impacts from the coronavirus or other epidemics, general economic conditions in Canada, the United States and globally; industry conditions, including fluctuations in commodity prices; governmental regulation of the mining industry, including environmental regulation; geological, technical and drilling problems; unanticipated operating events; competition for and/or inability to retain drilling rigs and other services; the availability of capital on acceptable terms; the need to obtain required approvals from regulatory authorities; stock market volatility; volatility in market prices for commodities; liabilities inherent in mining operations; changes in tax laws and incentive programs relating to the mining industry; as well as the other risks and uncertainties applicable to the Company as set forth in the Company's continuous disclosure filings filed under the Company's profile at www.sedarplus.ca. The Company undertakes no obligation to update these forward-looking statements, other than as required by applicable law.
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