Goldcliff announces loan agreement and free share issue

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VANCOUVER, British Columbia, Oct. 12, 2022 (GLOBE NEWSWIRE) — Goldcliff Resource Corporation (“Goldcliff” or the “Company”) (GCN: TSX.V, GCFFF: OTCBB PINKS) announces that it has entered into a loan agreement (the “Loan Agreement”) with George Sanders, President, Chief Executive Officer and Director of the Company (the “Lender”) for an amount of $175,000 (the “Loan”). The loan proceeds will be used for working capital purposes.

The interest-free loan will mature on September 7, 2023. In consideration for granting the loan, the Company has agreed to issue 700,000 common shares of the Company (the “free shares”) to the lender at a deemed price of 0 $.05 per premium. To share. All free shares will be subject to a hold period of four months from the date of issue in accordance with applicable securities laws.

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The Loan Agreement and Free Shares are subject to acceptance by the TSX Venture Exchange.

For more information, please contact George W. Sanders, Chairman, at 250-764-8879, toll-free at 1-866-769-4802 or by email at [email protected]


By: “George W. Sanders”

George W. Sanders, President

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.

Leslie M. Gill