Contact Gold Announces Upsize of Private Placement Financingto $1,000,000.00
Certain insiders of the Company, including President & CEO Matt Lennox-King, Chairman John Dorward, and CFO John Wenger participated in the Offering by purchasing an aggregate of 14,000,000 Units. The portion of such participation by the insiders constitutes a “related party transaction” within the meaning of TSXV Policy 5.9 and Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101”). The Company intends to rely on exemptions from the formal valuation and minority approval requirements of MI 61-101 as neither the fair market value of the subject matter of, nor the fair market value of the consideration for, the transaction, insofar as it involves related parties, exceeded 25% of the Company’s market capitalization.