TORONTO, Nov. 25, 2020 (GLOBE NEWSWIRE) -- Compass Gold Corp. (TSX-V: CVB) (Compass or the Company) announces that the TSX Venture Exchange (the "Exchange" ) has approved the Company’s request to extend the term of certain issued and outstanding warrants that were otherwise scheduled to expire on November 29, 2020. The Exchange has agreed that certain issued and outstanding warrants (the "Warrants" ) issued as part of a private placement that closed on November 29, 2017 and exercisable at a price of $0.75 per share for a total of 12,000,000 common shares will now expire on November 29, 2021. The additional warrants issued as partial compensation to the Company’s primary financial advisor to acquire 200,000 common shares as part of the original private placement are not being extended.
About Compass Gold Corp.
Compass, a public company having been incorporated into Ontario, is a Tier 2 issuer on the TSX- V. Through the 2017 acquisition of MGE and Malian subsidiaries, Compass holds gold exploration permits located in Mali that comprise the Sikasso Property. The exploration permits are located in three sites in southern Mali with a combined land holding of 867 km 2 . The Sikasso Property is located in the same region as several multi-million-ounce gold projects, including Morila, Syama, Kalana and Komana. Mineralization hosted on adjacent and or nearby properties is not necessarily indicative of mineralization hosted on the Company’s property. The Company’s Mali-based technical team, led in the field by Dr. Madani Diallo and under the supervision of Dr. Sandy M. Archibald, P.Geo, is conducting the current exploration program on several anomalous areas of the Sikasso Property, Southern Mali.
Qualified Person
This news release has been reviewed and approved by Dr. Sandy Archibald, P.Geo, Compass’s Technical Director, who is the Qualified Person for the technical information in this news release under National Instrument 43-101 standards.
Forward‐Looking Information
This news release contains "forward‐looking information" within the meaning of applicable securities laws, including statements regarding the Company’s planned exploration work and management appointments. Readers are cautioned not to place undue reliance on forward‐looking information. Actual results and developments may differ materially from those contemplated by such information. The statements in this news release are made as of the date hereof. The Company undertakes no obligation to update forward‐looking information except as required by applicable law.
For further information please contact:
Website: www.compassgoldcorp.com
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