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Contact Gold Announces $3 Million Non-Brokered Private Placement Financing
Vancouver, British Columbia--(Newsfile Corp. - October 18, 2021) -   Contact Gold Corp.&#...
About this update from Commodore Metals Corp.
[{"type":"text","content":"Contact Gold Announces $3 Million Non-Brokered Private Placement FinancingVancouver, British Columbia--(Newsfile Corp. - October 18, 2021) -  Contact Gold Corp. (TSXV: C) (OTCQB: CGOLF) (the \"Company\" or \"Contact Gold\") is pleased to announce a non-brokered private placement (the \"Offering\") of up to 60,000,000 units (\"Units\") at a price of $0.05 per Unit (the \"Offering Price\") for gross proceeds of up to $3,000,000.Each Unit will consist of one common share of the Company (a \"Common Share\") and one half of one Common Share purchase warrant (each whole Common Share purchase warrant, a \"Warrant\"), with each Warrant entitling the holder to purchase an additional Common Share at a price of $0.075 per share for a period of 24 months from the closing date (the \"Expiry Date\"). In the event that at any time between four months and one day following the closing date and the Expiry Date, the Common Shares trade on the TSX Venture Exchange (the \"TSXV\") at a closing price which is equal to or greater than $0.15 for a period of ten consecutive trading days, the Company may accelerate the expiry date of the Warrants by giving notice to the holders thereof and in such case the Warrants will expire on the 30th day after the date such notice is provided.The net proceeds of the Offering are expected to be used to undertake further drilling at Contact Gold's Green Springs gold project & continued exploration at the Pony Creek gold project each located in Nevada, and for general working capital purposes.The securities issued pursuant to the Offering will be subject to a four month and one day statutory hold period in Canada. Completion of the Offering is subject to the receipt of all necessary approvals, including the conditional approval of the TSXV.Certain persons may be eligible to receive finder fees, payable in cash, representing up to 6% of the proceeds placed by such finders, in connection with the Offering. Closing of the Offering is expected to occur on or about November 17, 2021, and remains subject to the final approval of the TSXV.The offered securities have not been, nor will they be, registered under the United States Securities Act of 1933, as amended (the \"Securities Act\") or any state securities laws, and may not be offered or sold to, or for the account or benefit of, any person in the ...