Gowest Completes Share for Debt Transactions

Dec 31, 2021

TORONTO, Dec. 30, 2021 (GLOBE NEWSWIRE) -- Gowest Gold Ltd. (“Gowest” or the “Company”) (TSX VENTURE: GWA) announced today that, following acceptance of the transaction by the TSX Venture Exchange, the Company has issued 1,503,644 shares to settle an aggregate of $240,583 of indebtedness (the “Debt Settlement”). As previously announced (see Gowest news release dated December 20, 2021), the shares were issued at a deemed price of $0.16 per share, to non-management directors of the Company, in satisfaction of director fees owing and outstanding to such individuals as of October 31, 2021. This issuance of common shares was made in order to preserve cash and improve the Company’s balance sheet.

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