By December 16, 2019News

VANCOUVER, BRITISH COLUMBIA – December 16, 2019 – Secova Metals Corp. (“Secova” or the “Company“) (TSXV: SEK, Frankfurt: N4UN, USA: SEKZF) and DNA Canada Inc. (“DNA”), are very pleased to announce that they have entered into a purchase agreement dated December 12, 2019 (the “Agreement”) whereby Secova has agreed to acquire the mining claims and concessions that comprise the DNA Property (the “Property”) owned by DNA as well as certain immovable assets (the “Immovable Assets”) to be used in connection with the Property.


Secova shall acquire from DNA the following assets:

  1. 152 mining claims located in the Montauban and Chavigny townships, in the county of Portneuf, in the province of Quebec; and
  2. The buildings, immovables, and other assets and operating permits located on, or with respect to, the property.

Upon completion of the regulatory approvals, Secova will then set out to update, where required;

  • the plans for refurbishment of the tailing pond;
  • the restoration plan;
  • detailed blueprints for the mill; and
  • pricing for the mill equipment that has not already acquired.

As the operating permit is very specific on the process used to extract the gold and silver, the only changes required may be related to current pricing.  We do not anticipate any increase in the price projections and hope that this process, which will start in the first week of January, will not take long to accomplish.

Brad Kitchen, President & CEO of Secova commented, “Due to the hard work and significant capital that DNA has put into the project over the last seven years, Montauban will be ready to be in production before the end of 2020.  We appreciate the support and confidence that DNA Management and Shareholders have shown Secova by working hard to complete this transaction

The consideration to be paid to DNA for the Property and the Immovable Assets will consist of the issuance of common shares of Secova (the “Shares”) in three tranches in accordance with the following schedule:  (i) 15 million Shares will be issued on the date that is four months and one day following the closing; (ii) 15 million Shares will be issued on the date that is eight months following the closing; and (iii) 20 million shares will be issued on the date that is one year following the closing of the acquisition.  DNA has agreed to distribute the Shares issued pursuant to the Agreement to its shareholders.  Secova has also agreed to assume or satisfy up to $100,000 in current obligations of DNA and to pay certain amount owing by DNA to the town of Notre-Dame de Montauban.

In other unrelated corporate business, the Company announces that it has closed its Private Placement announced on September 27, 2019 and increased on October 30, 2019 (the “Financing”) raising gross proceeds to the company of $1,625,000 by the issuance of 32.5 million units at a purchase price of $0.05 per unit. Each unit consists of one common share of the Company and one common share purchase warrant (the “Units”). Each warrant entitles the holder to purchase one common share of the Company at a purchase price of $0.05 per share for a period of nine (9) months from the date of the closing of the Financing. In connection with the Financing, the Company will pay a cash finder’s fee of $7,600 and issue 152,000 finder’s warrants (the “Finder’s Warrants”). The Finder’s Warrants will be exercisable into common shares for a period of nine (9) months at an exercise price of $0.05 per common share.

The net proceeds of the offering will be used for exploration and development of the company’s existing gold projects in Quebec and for general corporate purposes.

Completion of the acquisition and the separate financing is conditional upon, among other things, receipt of all necessary regulatory approvals, including approval of the TSX Venture Exchange.

Any Shares issued pursuant to the Agreement and the Financing will be subject to a 4 month and one day hold period pursuant to applicable securities laws.

About Secova Metals Corp.

Secova Metals Corp. is a Canadian exploration company focused on building a strong asset base through exploration of undervalued projects in Canada. Management has demonstrated expertise in advancing gold exploration projects into acquisition targets, most notably in the province of Quebec. The Company’s main focus is its 100% ownership of the Eagle River project which is adjacent to and on-trend to several gold projects in the Windfall Lake district of Urban Barry in Quebec.  Secova will use its expertise in early stage exploration to create shareholder value by attempting to prove out the potential resource in these assets.

For more information on Secova Metals Corp. please contact, Tel: +1 604-506-7555 or visit the website at for past news releases, media interviews and opinion-editorial pieces by CEO and Chairman Brad Kitchen.


On Behalf of the Board of Directors,



“Brad Kitchen”

Chairman, CEO and Director

Tel: +1 604-506-7555


Neither 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 release.

This press release contains “forward-looking information” that is based on the Company’s current expectations, estimates, forecasts, and projections. This forward-looking information includes, among other things, statements with respect to the Company’s exploration and development plans. The words “will”, “anticipated”, “plans” or other similar words and phrases are intended to identify forward-looking information. Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the Company’s actual results, level of activity, performance, or achievements to be materially different from those expressed or implied by such forward-looking information.

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