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Fabled Silver Gold Corp Announces Results of Annual General Meeting And Closing of Private Placement

01.12.2022  |  Accesswire
VANCOUVER, December 1, 2022 - Fabled Silver Gold Corp. ("Fabled" or the "Company") (TSXV:FCO)(OTCQB:FBSGF)(FSE:7NQ) is pleased to announced that all proposed resolutions were approved at the Company's Annual General Meeting of Shareholders held on October 27, 2022.

Shareholders voted in favor of all the resolutions proposed by the Board of Directors and management of the Company. A total of 33,569,956 common shares were voted, representing 15.62% of total shares issued and outstanding as of the record date.

  • The number of directors of the Company was set at four (4) and shareholders approved the re- election of David W. Smalley, Peter J. Hawley, Luc Pelchat, and Roger Scammell as directors of the Company;
  • Davidson & Company LLP, Chartered Professional Accountants, were re-appointed as auditors of the Company for the ensuing year and the directors have been authorized to fix their remuneration; and
  • The Company's 10% rolling stock option plan was re-approved by the shareholders.

Private Placement

In addition the Company announces that it has decided that it will not further extend the of a non-brokered private placement previously announced on June 23, 2022 (the "Offering") and has therefore closed the Offering. As previously disclosed in a press release dated July 21, 2022 the Company closed one tranche of the Offering and issued 5,940,000 units (the "Units") at a price of C$0.07 per Unit for gross proceeds of C$415,800.

The closing of the Offering is subject to final acceptance of the TSX Venture Exchange.

Share Issuance to Agora

In addition the Company announces that, pursuant to its advertising agreement with Agora Internet Relations Corp. ("Agora"), dated November 15, 2021, and described in the Company's news release dated November 29, 2021; it will issue (a) 260,769 Shares to Agora at a price per share of $0.065 in payment of $15,000 + HST for the period ended August 15, 2022 and (b) 339,000 Shares to Agora at a price per share of $0.05 in payment of $15,000 + HST for the period ended November 15, 2022.

The common shares issued to Agora are subject to a hold period until April 2, 2022, which is four months and one day following the issuance thereof in accordance with applicable securities laws.

About Fabled Silver Gold Corp.

Fabled is focused on acquiring, exploring and operating properties that yield near-term metal production. The Company has an experienced management team with multiple years of involvement in mining and exploration in Mexico. The Company's mandate is to focus on acquiring precious metal properties in Mexico with blue-sky exploration potential.

The Company has entered into an agreement with Golden Minerals Company (NYSE American and TSX: AUMN) to acquire the Santa Maria Property, a high-grade silver-gold property situated in the center of the Mexican epithermal silver-gold belt. The belt has been recognized as a significant metallogenic province, which has reportedly produced more silver than any other equivalent area in the world.

Mr. Peter J. Hawley, President and C.E.O. Fabled Silver Gold Corp.
Phone: (819) 316-0919

For further information please contact:

Neither the TSX Venture Exchange nor its Regulations Service Provider (as that term is defined in the policies of the TSX Venture Exchange) does accept responsibility for the adequacy or accuracy of this news release.

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 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 The Company undertakes no obligation to update these forward-looking statements, other than as required by applicable law.

SOURCE: Fabled Silver Gold Corp.

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