Vancouver, British Columbia–(Newsfile Corp. – August 23, 2024) – An exploration and mining company based in Vancouver, Golden Spike Resources Corp. (CSE: GLDS) (OTCQB: GSPRF) (FSE: L5Y), commonly referred to as Golden Spike, has been requested by OTC Markets Group Inc. (OTC Markets) to address recent promotional activity surrounding its common shares traded on the OTCQB market.
On August 19, 2024, OTC Markets informed Golden Spike about promotional activities related to the company and its common shares on the OTCQB market. This included the distribution of a promotional newsletter email by Spartan Trading Inc. discussing the company’s investors, management team, exploration, and development strategies. The promotional material in question originated from a third-party marketing firm.
Golden Spike had recently entered into an advisory agreement with Black Swan Solutions Inc. doing business as VHLA Media Inc. (VHLA) to provide marketing services. VHLA, in turn, utilized third parties to distribute the promotional material. The company asserts that its directors, officers, and controlling shareholders were not involved in the creation of the materials, and had no control over the content, besides confirming factual accuracy related to the company’s specific information.
While Golden Spike does not believe the statements in the newsletter were false or misleading, it acknowledges that they are speculative in nature. OTC Markets has raised concerns that the newsletter may promote the company and encourage share purchases. For accurate and comprehensive information about Golden Spike, its prospects, and associated risks, interested parties are advised to consult the company’s public filings on SEDAR+, its website, and other reputable sources. Investors are encouraged to seek advice from their investment advisors before making any decisions.
The company also notes that increased trading activity in its common shares on August 19, 2024, may have been influenced by a combination of factors, including the release of promotional materials by VHLA and an announcement regarding the completion of the Phase 1 exploration program at its Gregory River property in Newfoundland.
Regarding securities trading activities, a director of the company sold 200,000 common shares on August 19, 2024. The company states that no officers, directors, or controlling shareholders have sold or purchased company securities within the past 90 days. Golden Spike confirms that it has issued shares and convertible securities at discounted rates compared to the prevailing market rate, in line with industry norms.
Over the past year, Golden Spike has engaged VHLA for marketing services and also entered into an advisory agreement with Altitude Capital Consultants Inc. for market analysis and financial advisory support. These agreements signify the company’s commitment to strategic growth and value realization in the mining sector.
Golden Spike Resources Corp. is a Canadian mineral exploration company focused on identifying and acquiring mineral opportunities in Canada and other stable jurisdictions. The company’s primary asset is the Gregory River Property in Newfoundland, known for its rich mineral deposits and high-grade vein structures. Keith Anderson leads the company as part of the Board of Directors.
For the original source of this press release, please visit the company’s Newsfile page.
