Contact Gold closes first tranche of personal placement financing

Vancouver, British Columbia – (Newsfile Corp. – November 25, 2021) – Contact Gold Corp. (TSXV: C) (OTCQB: CGOLF) (the “Firm” or “Contact Gold”) is happy to announce that it has closed the primary tranche of the personal placement with out middleman beforehand introduced (the “Provide”), ensuing within the issuance of 57,600,000 models of the Firm (“Unit”) at a worth of $ 0.05 per Unit for gross proceeds of $ 2,880,000. All greenback quantities herein are expressed in Canadian {dollars}.

The web proceeds of the providing are anticipated for use to undertake additional drilling at Contact Gold’s Inexperienced Springs gold challenge and to proceed exploration on the Pony Creek gold challenge, every situated in Nevada, and for normal working capital functions.

The Firm expects the second tranche to shut on or round November 29, 2021.

Every unit consisted of 1 widespread share of the capital of the Firm (“widespread share”) and one-half widespread share buy warrant (every total warrant, one “warrant”), every warrant. subscription permitting its holder to buy one other Share at a worth of $ 0.075 per share for a interval of 24 months from the deadline (the “Expiration Date”). Within the occasion that, at any time between 4 months and sooner or later following the deadline and the expiration date, the Frequent Shares are buying and selling on the TSX Enterprise Alternate (the “TSXV”) at a closing worth equal to or higher than $ 0.15 for a interval of ten consecutive buying and selling days, the Firm might speed up the expiration date of the Warrants by giving discover to their holders and, on this case, the Warrants will expire on the thirtieth day after the date on which this discover is offered.

The providing included subscriptions by a number of insiders of the Firm, together with sure officers and administrators, for a complete of 12,770,420 models.

Participation within the Providing by officers and administrators was thought-about a “associated social gathering transaction” beneath TSXV Coverage 5.9, which adopts Multilateral Regulation 61-101 (“MI 61-101”) as its coverage. the TSXV. To finish these transactions, Contact Gold relied on the relevant exemptions from the valuation requirement and minority safety holder approval necessities accessible beneath Sections 5.5 (a) and 5.7 (a) of Regulation 61. -101, respectively, on the premise that the participation within the personal placement by insiders didn’t exceed 25% of the market capitalization of the Firm. A cloth change report might be filed in reference to the participation of Insiders within the Provide lower than 21 days earlier than the closing of the Provide, which the Firm has deemed affordable within the circumstances so as to have the ability to benefit from alternatives to financing and full the Provide as quickly as potential.

Finder’s charges paid in money in reference to the closing of this primary tranche of the providing totaled $ 51,088.74. No intermediation fee is foreseen for the second tranche.

The securities issued in reference to the providing might be topic to a authorized maintain interval of 4 months and sooner or later in Canada. The securities provided haven’t been and won’t be registered beneath the US Securities Act of 1933, as amended (the “Securities Act”) or any state securities legislation. Affords and gross sales in the US might be restricted to accredited institutional traders. This press launch doesn’t represent a suggestion to promote or the solicitation of a suggestion to purchase and there might be no sale of securities in any state through which such a suggestion, solicitation or sale could be unlawful.

Closing of the providing stays topic to the ultimate approval of the TSXV.

About Contact Gold Corp.

Contact Gold is an exploration firm centered on making district-wide gold discoveries in Nevada. Contact Gold’s intensive land holdings are discovered on the prolific Carlin and Cortez gold corridors that are house to quite a few gold deposits and mines. Contact Gold’s land place is roughly 140 km2 target-rich mineral tenure harboring quite a few identified gold occurrences starting from early to superior exploration and useful resource definition.

Extra details about the Firm is obtainable at
For extra info, please contact: +1 (604) 449-3361
Matthew Lennox-King – President and CEO
Jack Trembath – Supervisor, Investor Relations
E mail: [email protected]

Neither TSXV nor its Regulation Providers Supplier (as that time period is outlined within the insurance policies of TSXV) accepts accountability for the adequacy of this launch. No inventory trade, securities fee or different regulatory authority has authorised or disapproved of the knowledge contained on this doc.

Warning concerning forward-looking info

This press launch comprises “forward-looking info” and “forward-looking statements” (collectively, “forward-looking statements”) throughout the which means of relevant Canadian securities legal guidelines. All statements, apart from statements of historic reality, are forward-looking statements and are primarily based on expectations, estimates and projections as of the date of this press launch. Any assertion involving discussions concerning predictions, expectations, beliefs, plans, projections, objectives, assumptions, future occasions or efficiency, “anticipates” or “doesn’t anticipate”, “plans”, “funds”, “deliberate”, ” foresees “,” considers “,” considers “,”, “intends to” or variations of those phrases and expressions or indicating that sure actions, occasions or outcomes “might” or “might”, “would” , “May” or “would” might be thought-about to happen or to be achieved) are usually not statements of historic reality and could also be forward-looking statements. On this press launch, forward-looking statements relate to, amongst different issues, the Provide basically, the deliberate closing and profitable completion of a further tranche of the Provide, the usage of the proceeds thereof, the receipt of relevant regulatory approvals, together with remaining approval from the TSX Enterprise Alternate, and the Firm’s proposed exploration actions on the Inexperienced Springs and Pony Creek properties, and their outcomes.

These forward-looking statements are primarily based on affordable assumptions and estimates of the administration of the Firm on the time these statements have been made. Precise future outcomes might differ materially, as forward-looking statements contain identified and unknown dangers, uncertainties and different elements which will trigger the precise outcomes, efficiency or achievements of the Firm to vary materially from the outcomes, efficiency or achievements. futures expressed or implied by these forward-looking statements. These elements, amongst others, embrace: receipt of relevant regulatory approvals; availability of funding; the impacts ensuing from the worldwide disruption as a result of Covid-19 coronavirus epidemic; fluctuations basically macroeconomic circumstances; fluctuations within the securities markets; fluctuations within the spot and ahead costs of gold, silver, base metals or sure different commodities; fluctuations in forex markets (such because the trade fee of the Canadian greenback to the US greenback); change in nationwide and native authorities, laws, taxation, controls, rules and political or financial developments; dangers and hazards related to exploration, growth and mining actions (together with environmental hazards, industrial accidents, uncommon or surprising forming pressures, collapses and floods); failure to acquire ample insurance coverage to cowl dangers and risks; the presence of legal guidelines and rules which will impose restrictions on mining; worker relations; the relationships and claims of native communities and indigenous populations; the supply of accelerating prices related to mining inputs and labor; the speculative nature of mineral exploration and growth (together with the dangers of acquiring obligatory licenses, permits and approvals from authorities authorities); and the title of the properties. Though the forward-looking statements contained on this press launch are primarily based on what the administration of the Firm believes, or believed on the time, to be affordable assumptions, the Firm can’t guarantee shareholders that precise outcomes might be per these. forward-looking statements, as there could also be different elements that trigger outcomes to not be as anticipated, estimated or anticipated. Readers mustn’t place undue reliance on the forward-looking statements and knowledge contained on this press launch. The Firm assumes no obligation to replace any forward-looking statements of beliefs, opinions, projections or different elements, within the occasion of change, besides as required by legislation.


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