TORONTO, ON / ACCESS Newswire / June 12, 2025 / Axcap Ventures Inc. ("Axcap" or the "Company") (CSE:AXCP)(OTC PINK:GARLF) is pleased to announce that it has implemented a minimum share ownership policy (the "Share Ownership Policy") with the members of the Board of Directors and Senior Executives of the Company (the "Applicable Party").
Since January 2025, there has been significant acquisitions of common shares of the Company in the open market by insiders of the Company, acquiring collectively greater than 2,400,000 shares for a total value of more than $400,000.
Under the terms of the Share Ownership Policy, each Applicable Party is required to attain and maintain the required minimum ownership levels of shares in the Company as set out in the Share Ownership Policy. Certain Applicable Parties are required to own a number of shares of the Company, which inclusive with the value of any unvested share units (e.g. PSUs, RSUs, etc), is the equivalent to at least two times the applicable base salary (the "Minimum Share Ownership Threshold"). Any future modification of the Share Ownership Policy that results in a material change to the Minimum Share Ownership Threshold will require the mutual consent of the Company and the Applicable Party.
Mario Vetro, Co-founder and Director of the Company commented: "We believe that Converse is a rare asset and undervalued relative to peers and we are increasing our exposure to this opportunity. As a team, we intend to unlock this value for ourselves and fellow stockholder by de-risking what is already the largest undeveloped gold deposit in Nevada (5.57 Moz M&I)1 not owned by a senior. We look forward to sharing our first drill results in the weeks ahead."
For further information, visit www.axcapventures.ca or follow us on LinkedIn and other channels.
1 See "Amended and Restated Technical Report and Mineral Resource Update, Converse Property, Humboldt County, Nevada, USA" with an effective date of February 13, 2025 available under the Company's SEDAR+ profile at www.sedarplus.ca.
About Axcap Ventures Inc.
Axcap Ventures is focused on consolidating neglected resources in the USA and Canada that we believe are constrained by drilling not geology. Our goal is to deliver a portfolio of development ready gold resources into the next gold cycle and to raise capital and grow these neglected orebodies when conventional single asset explorers are shut out of the market.. For more information, please visit our website at www.axcapventures.ca.
On behalf of the Board of Directors,
"Mario Vetro"
Mario Vetro, Co-Founder and Director
For further information, please contact the Company at +1 (604) 687 7130
Cautionary Statement Regarding "Forward-Looking" Information
This news release includes certain statements that may be deemed "forward-looking statements". All statements in this new release, other than statements of historical facts, that address events or. developments that the Company expects to occur, are forward-looking statements. 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 and actual results may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include market prices, continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made. Except as required by applicable securities laws, 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.
SOURCE: AXCAP VENTURES INC.
View the original press release on ACCESS Newswire:
https://www.accessnewswire.com/newsroom/en/banking-and-financial-services/axcap-ventures-announces-minimum-share-ownership-policy-with-board-o-1038569
