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Golden Spike Resources Corp. (CSE: GLDS) (OTCQB: GSPRF) has responded to OTC Markets’ request regarding promotional activity of its common shares. The company acknowledged a promotional newsletter distributed by Spartan Trading Inc. on August 19, 2024, which was part of a marketing agreement with VHLA Media Inc. Golden Spike stated that while they provided factual information, they didn’t have editorial control over the materials.
The company believes the increased trading activity on August 19 was due to the promotional materials and a news release about completing their Phase 1 exploration program at the Gregory River copper-gold property. A director sold 200,000 shares at $0.21 per share on August 19. Golden Spike confirmed issuing shares and convertible securities at a discount to market price, as is common for CSE-listed companies.
Golden Spike Resources Corp. (CSE: GLDS) (OTCQB: GSPRF) ha risposto alla richiesta di OTC Markets riguardo all’attività promozionale delle sue azioni ordinarie. L’azienda ha riconosciuto un bollettino promozionale distribuito da Spartan Trading Inc. il 19 agosto 2024, che faceva parte di un accordo di marketing con VHLA Media Inc. Golden Spike ha dichiarato che, sebbene avessero fornito informazioni fattuali, non avevano controllo editoriale sui materiali.
L’azienda ritiene che l’aumento dell’attività di trading del 19 agosto sia stato causato dai materiali promozionali e da un comunicato stampa relativo al completamento del loro programma di esplorazione della Fase 1 nella proprietà di rame-oro di Gregory River. Un direttore ha venduto 200.000 azioni a $0,21 per azione il 19 agosto. Golden Spike ha confermato di aver emesso azioni e titoli convertibili a uno sconto rispetto al prezzo di mercato, come è comune per le aziende quotate al CSE.
Golden Spike Resources Corp. (CSE: GLDS) (OTCQB: GSPRF) ha respondido a la solicitud de OTC Markets sobre la actividad promocional de sus acciones ordinarias. La empresa reconoció un boletín promocional distribuido por Spartan Trading Inc. el 19 de agosto de 2024, que formaba parte de un acuerdo de marketing con VHLA Media Inc. Golden Spike declaró que, aunque proporcionaron información veraz, no tenían control editorial sobre los materiales.
La empresa cree que el aumento de la actividad de trading el 19 de agosto se debió a los materiales promocionales y a un comunicado de prensa sobre la finalización de su programa de exploración de Fase 1 en la propiedad de cobre-oro de Gregory River. Un director vendió 200.000 acciones a $0,21 por acción el 19 de agosto. Golden Spike confirmó la emisión de acciones y valores convertibles a un descuento respecto al precio de mercado, como es común para las empresas cotizadas en el CSE.
골든 스파이크 리소스 Corp. (CSE: GLDS) (OTCQB: GSPRF)는 OTC 마켓의 일반 주식에 관한 프로모션 활동 요청에 응답했습니다. 이 회사는 2024년 8월 19일 스파르탄 트레이딩 Inc.에서 배포한 프로모션 뉴스레터를 인식했으며, 이는 VHLA Media Inc와의 마케팅 계약의 일환이었습니다. 골든 스파이크는 사실 정보를 제공했지만, 자료에 대한 편집 통제권이 없었다고 밝혔습니다.
회사는 8월 19일 거래 활동이 프로모션 자료와 그레고리 리버 구리-금 자산의 1단계 탐사 프로그램 완료에 관한 뉴스 릴리스 때문이라고 믿고 있습니다. 한 이사가 8월 19일에 주당 $0.21에 200,000 주를 판매했습니다. 골든 스파이크는 CSE에 상장된 회사에서 흔히 있는 일처럼 시장 가격보다 할인된 가격으로 주식 및 전환 가능 증권을 발행했다고 확인했습니다.
Golden Spike Resources Corp. (CSE: GLDS) (OTCQB: GSPRF) a répondu à la demande d’OTC Markets concernant l’activité promotionnelle de ses actions ordinaires. La société a reconnu une lettre d’information promotionnelle distribuée par Spartan Trading Inc. le 19 août 2024, qui faisait partie d’un accord marketing avec VHLA Media Inc. Golden Spike a déclaré que, bien qu’ils aient fourni des informations factuelles, ils n’avaient pas de contrôle éditorial sur les matériaux.
La société estime que l’augmentation de l’activité de trading du 19 août était due aux supports promotionnels et à un communiqué de presse concernant l’achèvement de leur programme d’exploration de Phase 1 sur la propriété de cuivre-or Gregory River. Un directeur a vendu 200.000 actions au prix de 0,21 $ par action le 19 août. Golden Spike a confirmé l’émission d’actions et de titres convertibles à un prix inférieur au prix du marché, ce qui est courant pour les entreprises cotées sur le CSE.
Golden Spike Resources Corp. (CSE: GLDS) (OTCQB: GSPRF) hat auf die Anfrage von OTC Markets bezüglich der Werbeaktivitäten für ihre Stammaktien reagiert. Das Unternehmen erkannte einen Werbe-Newsletter an, der am 19. August 2024 von Spartan Trading Inc. verteilt wurde und Teil eines Marketingvertrags mit VHLA Media Inc war. Golden Spike erklärte, dass sie zwar faktische Informationen bereitgestellt haben, jedoch keine redaktionelle Kontrolle über die Materialien hatten.
Das Unternehmen ist der Ansicht, dass die erhöhte Handelsaktivität am 19. August auf die Werbematerialien und eine Pressemitteilung über den Abschluss ihres Erkundungsprogramms der Phase 1 in der Kupfer-Gold-Region Gregory River zurückzuführen sei. Ein Direktor verkaufte am 19. August 200.000 Aktien zu einem Preis von 0,21 $ pro Aktie. Golden Spike bestätigte die Ausgabe von Aktien und wandelbaren Wertpapieren zu einem Rabatt auf den Marktpreis, was für an der CSE notierte Unternehmen üblich ist.
Positive
- Completed Phase 1 exploration program at Gregory River copper-gold property
- Engaged in marketing agreements to increase visibility
Negative
- Director sold 200,000 shares, potentially indicating lack of confidence
- Issued shares and convertible securities at a discount to market price, which may dilute existing shareholders
Vancouver, British Columbia–(Newsfile Corp. – August 23, 2024) – Golden Spike Resources Corp. (CSE: GLDS) (OTCQB: GSPRF) (FSE: L5Y) (the “Company” or “Golden Spike“) has been requested by OTC Markets Group Inc. (“OTC Markets“) to issue this statement about promotional activity concerning its common shares traded on the OTCQB market (operated by OTC Markets).
On August 19, 2024, OTC Markets informed the Company that it became aware of certain promotional activities concerning the Company and its common shares traded on the OTCQB market, including the distribution of a promotional newsletter email published by Spartan Trading Inc. discussing the Company, its investors, management team and exploration and development strategies. OTC Markets provided a copy of the promotional material for reference.
The promotional material was derived from a third-party marketing and advertising firm. On August 6, 2024, the Company entered into an advisory agreement (the “VHLA Agreement“) with Black Swan Solutions Inc. doing business as VHLA Media Inc. (“VHLA“), whereby VHLA agreed to provide marketing services to the Company. VHLA is permitted to further hire third parties. The agreement entered into with VHLA is valid until February 6, 2025, if not earlier terminated by mutual consent.
After an inquiry of management, the directors and control persons, the Company was aware of the distribution of the newsletter on August 19, 2024 after it was distributed. The Company paid for its distribution pursuant to the agreement with VHLA. However, none of the Company’s directors, officers, or controlling shareholders were involved, directly, with the creation of the materials nor was management informed of the specific release date and time. The Company provided the service providers publicly available sources of information for the newsletters and did not have editorial control over the materials, except that the Company reviewed information specific to the Company for factual accuracy prior to its dissemination. The newsletter presented factual statements regarding the Company’s mineral properties, exploration and business strategies and investors.
The Company does not believe the statements in the newsletter were false or misleading, but wishes to caution readers that such statements are speculative in nature. The Company has been advised by OTC Markets that OTC Markets takes the position that the newsletter touts the Company and encourages investors to purchase its shares. For more complete and specific information regarding the Company, its prospects, and the risks associated with those prospects, readers should consult the Company’s public filings on SEDAR+, its website, and other reliable sources. The Company encourages investors to contact their investment advisors prior to making any investment.
Further, the Company understands this promotional activity may have coincided with increased trading activity in the common shares beginning on August 19, 2024. The Company believes the increased trading activity resulted from a combination of factors including the following: (i) certain promotional materials in respect of the Company were prepared by VHLA pursuant to the VHLA Agreement and released to the public on or about August 19, 2024; and (ii) the Company issued a news release on August 19, 2024, announcing that it had completed its Phase 1 exploration program at its Gregory River copper-gold property in western Newfoundland.
After an inquiry of management and the directors, none of the officers and directors of the Company sold or purchased securities of the Company within the past 90 days except as disclosed below:
- On August 19, 2024 prior to opening of the markets, a director of the Company sold an aggregate of 200,000 common shares at a price of $0.21 per common share.
After an inquiry of control persons, to the extent of management’s knowledge, none of the controlling shareholders have sold or purchased the Company’s securities within the past 90 days. Additionally, after an inquiry of third-party service providers, management is not aware of any third-party service providers who have sold or purchased the Company’s securities within the past 90 days.
OTC Markets has further requested that the Company state whether, at any point, it has issued any 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. The Company confirms that it has issued shares and convertible securities at a discount to market at the time of issuance as is industry practice for Canadian Securities Exchange listed companies. Details are provided in the Company’s public filings on SEDAR+.
In the past 12 months, the Company has entered into an agreement with VHLA, as previously described above, to provide marketing services. The Company has also entered into an advisory agreement with Altitude Capital Consultants Inc. (“Altitude“) dated August 15, 2024, pursuant to which Altitude agreed to provide marketing advice, services related to market analysis strategy and market maintenance and financial advisory support. The agreement entered into with Altitude is valid until August 12, 2025, if not earlier terminated by mutual consent.
About Golden Spike
Golden Spike Resources Corp. (CSE:GLDS), (OTCQB: GSPRF), (FSE: L5Y) is a Canadian mineral exploration company focused on identifying, acquiring and unlocking value in mineral opportunities in Canada and other low-risk jurisdictions. The Company currently holds 100% interest in the 5,050-hectare Gregory River Property in Newfoundland, strategically centered over an approximate 11-kilometer-long stretch of the Gregory River VMS-belt, a north-northeast trending corridor of very prospective ground with potential to host Cyprus-type polymetallic VMS deposits. In addition, the Property hosts a cluster of historically explored, high-grade, copper ±gold vein structures.
ON BEHALF OF THE BOARD OF DIRECTORS
Keith Anderson
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/221036
FAQ
What promotional activity did Golden Spike Resources (GSPRF) address in their recent statement?
Golden Spike Resources addressed a promotional newsletter distributed by Spartan Trading Inc. on August 19, 2024, which discussed the company, its investors, management team, and exploration strategies.
Did Golden Spike Resources (GSPRF) have control over the content of the promotional materials?
No, Golden Spike Resources provided factual information but did not have editorial control over the materials. They only reviewed company-specific information for accuracy before dissemination.
What factors contributed to increased trading activity of Golden Spike Resources (GSPRF) shares on August 19, 2024?
The increased trading activity was attributed to the release of promotional materials and a news release announcing the completion of Phase 1 exploration at the Gregory River copper-gold property.
Has Golden Spike Resources (GSPRF) issued any discounted shares or convertible securities?
Yes, Golden Spike Resources confirmed issuing shares and convertible securities at a discount to market price, which is common practice for Canadian Securities Exchange listed companies.
