Business
Contact Gold Announces Completion of Redomicile to British Columbia
Vancouver, British Columbia--(Newsfile Corp. - June 4, 2021) - Contact Gold Corp.  (TSX...
About this update from Commodore Metals Corp.
[{"type":"text","content":"Contact Gold Announces Completion of Redomicile to British ColumbiaVancouver, British Columbia--(Newsfile Corp. - June 4, 2021) - Contact Gold Corp. (TSXV: C) (OTCQB: CGOL) (the \"Company\" or \"Contact Gold\") is pleased to announce that it has closed the previously announced plan of arrangement (the \"Arrangement\") to redomicile from Nevada to continue as a British Columbia corporation.The process to redomicile back to Canada was achieved by (a) completing a plan of conversion from the State of Nevada to continue into the British Columbia (the \"Continuance\"), and (b) immediately thereafter completing a plan of arrangement under the laws of British Columbia (the \"Arrangement\" and together with the Continuance, the \"Repatriation Transaction\") (see news releases dated April 21, 2021, and May 26, 2021).The Repatriation Transaction has not resulted in any material changes to the board, management, day-to-day conduct of the business of Contact Gold or its strategy. Among other advantages, management expects to see a reduction in the Company's regulatory compliance costs, an enhanced ability to access the capital markets and an increase to the number of potential investors. Completion of the Repatriation Transactions has also reduced or eliminated certain U.S. resale restrictions on common shares previously issued by the Company in private placement transactions.\"The closing of the redomicile represents the final step in streamlining Contact Gold's corporate structure, rendering financial reporting, potential M&A, and financing more efficient,\" said Matt Lennox-King, President & CEO. \"We thank our shareholders for their overwhelming support in the process.\"Pursuant to the Arrangement, Contact Gold shareholders today received or shall be entitled to receive, for every one share of common stock of Contact Gold (\"Contact NV Share\"), one common share of the now British Columbia incorporated Contact Gold (a \"Contact BC Share\"), bearing new CUSIP number 21074F103 (ISIN CA21074F1036). Pursuant to the Arrangement, Contact Gold expects that the Contact NV Shares will be de-listed from the TSX Venture Exchange (\"TSXV\"), and the Contact BC Shares will be listed and posted for trading on the TSXV effective as of market open on June 9, 2021, with no change to the Company's ticker symbol (TSXV: C). For furth...