Canagold Resources Ltd T.CCM

Alternate Symbol(s): CRCUF

Canagold Resources Ltd. is a Canada-based mineral exploration company. The Company’s projects include New Polaris, Nevada Gold, Windfall Hills, Corral Canyon and Princeton Property. The Company’s core asset is the 100% owned, past-producing, high-grade, New Polaris gold project located in north-western British Columbia. The Fondaway Canyon is an advanced stage gold property located in the Churchill County, Nevada. The land package contains 136 unpatented lode claims. It owns a 100% interest in the prospective Windfall Hills gold exploration project, located in the same geological belt as and 90 kilometers (km) northwest of the Blackwater-Davidson gold discovery in central BC. The project 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. Princeton Gold Property consists of 14,650 hectares and lies 35 kilometers south of Princeton, British Columbia (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.