October 16, 2023 – TheNewswire – London, Ontario – Abitibi Metals Corp. (“Abitibi” or the “Company”) (CSE:AMQ) (OTC:GSKKF) (FSE:4KG), a Quebec-focused mineral acquisition and exploration Company, is pleased to announce that it has changed its name from “Goldseek Resources Inc.” to “Abitibi Metals Corp.” (the “Name Change”). The Company’s trading symbol on the Canadian Securities Exchange has changed to AMQ effective today (October 16, 2023); the Company’s trading symbols on the OTC Markets (“OTC”) and Frankfurt Stock Exchange (“FSE”) will remain unchanged.
The Company’s CUSIP and ISIN identifiers have been updated as a result of the name change: CUSIP 00367M108 and ISIN CA00367M1086. Beneficial shareholders will have their common shares updated automatically. Registered holders will not be required to transmit their common shares under the old name but may contact the Company’s transfer agent, Marelli Trust Company Limited if they wish to exchange their common share certificates / DRS advices for new certificates / DRS advices in the new name.
The Company’s management team feels that the new name more accurately reflects the vision of establishing a diversified metals company in Quebec. With a primary focus on the mineral-rich Abitibi greenstone belt, the Company is currently actively evaluating opportunities to acquire an advanced-stage copper and/or gold project. Specifically, the company is seeking to acquire a project with the following characteristics:
- Located in Quebec with good access and supporting mining infrastructure.
- Has a current resource, historical resource or near resource with existing well-defined targets that can produce a 43-101 resource estimate within one year.
- Focused on copper and gold with district-scale growth potential.
Investors are cautioned that there is no assurance that negotiations involving any potential acquisition will conclude successfully.
Jonathon Deluce, CEO and President of Abitibi Metals, commented: “We are excited to announce our name change from Goldseek Resources to Abitibi Metals Corp. This new name better aligns with our team’s vision and underscores our renewed exploration focus and direction as a Company.
With the rising demand for copper due to the clean energy transition, Abitibi is focused on acquiring and developing an asset with significant growth potential to meet this future demand. In early August, the U.S. underscored copper’s essential role by including it in its critical mineral list. Similarly, Canada has signaled its intent to prioritize the development of critical minerals in the coming years, highlighting the pressing need for further development.
Our goal is to establish a significant metals company in the Abitibi Greenstone belt, centering on gold and copper. A number of project reviews have already been completed, and the Company looks forward to keeping shareholders up to date on the progress of its strategy during the coming weeks.”
In conjunction with the name change, the Company is also pleased to announce the launch of its new website, which can be found at www.abitibimetals.com. Interested parties can visit the website to sign up for automatic updates, news releases and announcements from Abitibi.
In addition to the Company’s website, Abitibi will also maintain an active presence on various social media platforms to keep stakeholders and the general public informed about its activities. To follow and engage with the Company through social media, subscribe to the following handles and links:
- Twitter: https://twitter.com/AbitibiMetals
- LinkedIn: https://www.linkedin.com/company/abitibi-metals-corp-amq-c/
By following Abitibi on these platforms, stakeholders can stay updated with the latest news, industry insights, and corporate announcements.
About Abitibi Metals Corp.
Abitibi Metals Corp. is a Quebec-focused mineral acquisition and exploration company focused on the development of quality base and precious metal properties that are drill-ready with high-upside and expansion potential. Abitibi’s portfolio of strategic properties provides target-rich diversification and includes the Beschefer Gold Project, where historical drilling has identified 4 historical intercepts with a metal factor of over 100 g/t gold highlighted by 55.63 g/t gold over 5.57 metres and 13.07 g/t gold over 8.75 metres amongst four modelled zones. With approximately 52% insider ownership and a market cap under $7M, the Company is tightly structured for potential positive developments.
ON BEHALF OF THE BOARD
Chief Executive Officer
For more information, please contact:
Abitibi Metals Corp.
The reader is invited to visit Abitibi’s website https://www.abitibimetals.com
Neither the Canadian Securities Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
This news release contains certain statements that may be deemed “forward-looking statements” with respect to the Company within the meaning of applicable securities laws, including statements with respect to the Company’s future acquisition plans. Forward-looking statements are 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. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, are subject to risks and uncertainties, and actual results or realities may differ materially from those in the forward-looking statements. Such material risks and uncertainties include, but are not limited to, the Company’s ability to obtain all requisite approvals, including approval of the Canadian Securities Exchange and securities regulatory authorities, if required for a transaction or financing, the Company’s ability to raise sufficient capital to fund its obligations under its property agreements going forward, to maintain its mineral tenures and concessions in good standing, to explore and develop Beschefer or its other projects and for general working capital purposes, changes in economic conditions or financial markets, the inherent hazards associates with mineral exploration, changes in general economic conditions, the ability of the Company to obtain the necessary permits and consents required to explore, drill and develop its projects and if obtained, to obtain such permits and consents in a timely fashion relative to the Company’s plans and business objectives for the projects, changes in environmental and other laws or regulations that could have an impact on the Company’s operations, compliance with environmental laws and regulations, aboriginal title claims and rights to consultation and accommodation, dependence on key management personnel and general competition in the mining industry. Forward-looking statements are based on the reasonable beliefs, estimates and opinions of the Company’s management on the date the statements are made. Except as required by law, the Company undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change.