Bullboard - Stock Discussion Forum 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... see more

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Canagold Resources Ltd > Control person

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Post by GOLDISUS on Sep 28, 2022 1:17pm

Control person

The term “control person” is defined in section 1 of the Securities Act and generally means, a person, or combination of persons, who holds a sufficient number of the voting rights attached to all outstanding voting securities of an issuer to affect materially the control of the issuer.

And why is this needed?

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Comment by GOLDISUS on Sep 28, 2022 4:13pm

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 ...more

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