Canagold Resources Ltd T.CCM

Alternate Symbol(s): CRCUF

Canagold Resources Ltd. is a mineral exploration company. It owns a direct interest in precious metal properties, known as the New Polaris property, the Windfall Hills property, and the Corral Canyon property, as well as a portfolio of smaller exploration properties in Nevada, Idaho and Montana. It owns a 100% interest in the New Polaris property, located in the Atlin Mining Division, British Columbia (BC), which consists of 61 contiguous Crown-granted mineral claims and one modified grid claim covering 850 hectares. The Windfall Hills gold project is located 65 km south of Burns Lake, which consists of the Atna properties, comprised of two mineral claims totaling 959 hectares and the Dunn properties, comprised of eight mineral claims totaling 2820 hectares. Corral Canyon property lies 35 km west of the town of McDermitt in Humboldt County along the western flank of the McDermitt caldera complex. Princeton Gold Property consists of 14,650 hectares and lies 35 km south of Princeton, BC.

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Canagold Resources Ltd > Control person

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Comment by GOLDISUSon Sep 28, 2022 4:13pm

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Post# 34993233

RE:Control person

John Paul, thanks for your inquiry. Sun Valley is committed to financing this project all the way to a Feasibility and Permitting. As such they will need to purchase shares from our treasury. Currently they have 17%. The next financing It will bring up their percentage beyond 20% and that triggers the “control person”, so we need a shareholder vote for approval for that to take place. The financing itself will increase their %, but they would never have more votes than their % of holdings.

It a tough market, like the one we currently face, we’re fortunate to have a backer who will support us as such.
We’ll be opening future financings to all shareholders moving forward. More is explained in this news release.

https://canagoldresources.com/news/news-releases/canagold-resources-arranges-4m-financing

I hope that clarifies it for you.

Regards,

Knox Henderson
VP Corporate Development
CANAGOLD RESOURCES LTD.