Axcap Ventures Extends Milestone Payment Deadline With Waterton

Rhea-AI Summary

Axcap Ventures (OTCID:GARLF) has successfully negotiated an extension for its milestone payment obligation with Waterton Nevada Splitter LLC. The payment, originally due on July 15, 2025, has been extended to September 30, 2025.

As consideration for this extension, Axcap has issued 1,550,000 common shares to Waterton. These shares are subject to a four-month-and-one-day hold period from their issuance date. The extension agreement modifies the original milestone payment rights agreement dated July 15, 2024, between Converse Acquisition Company, Limited and Waterton.

Positive

• None.

Negative

• Dilution of existing shareholders through issuance of 1,550,000 new shares
• Delayed payment may indicate potential cash flow challenges

VANCOUVER, BC / ACCESS Newswire / August 12, 2025 / AXCAP VENTURES INC. ("Axcap" or the "Company") (CSE:AXCP)(OTCID:GARLF) is pleased to announce that the Company and Waterton Nevada Splitter LLC ("Waterton") agreed to extend the milestone payment due on July 15, 2025 to September 30, 2025 pursuant to the milestone payment rights agreement dated July 15, 2024 between Converse Acquisition Company, Limited and Waterton. In consideration of the extension, the Company has issued to Waterton 1,550,000 common shares of the Company (the "Shares"). The Shares are subject to a hold period ending on the date that is four months and a day from the date of issuance.

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 & 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

FAQ

What is the new milestone payment deadline for Axcap Ventures (GARLF)?

The milestone payment deadline has been extended from July 15, 2025 to September 30, 2025.

How many shares did Axcap Ventures issue to Waterton for the payment extension?

Axcap Ventures issued 1,550,000 common shares to Waterton as consideration for the payment extension.

What is the hold period for the newly issued Axcap Ventures shares?

The shares are subject to a hold period of four months and one day from the date of issuance.

When was the original milestone payment rights agreement between Waterton and Converse Acquisition Company signed?

The original milestone payment rights agreement was dated July 15, 2024.