Business
Contact Gold Announces Proposed Public Offering of Units and Signing of Letter of Intent to Redeem Preferred Stock
Contact Gold Announces Proposed Public Offering of Units and Signing of Letter of Intent t...
About this update from Commodore Metals Corp.
[{"type":"text","content":"\n\n\n\nContact Gold Announces Proposed Public Offering of Units and Signing of Letter of Intent to Redeem Preferred Stock\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prngen2{\nBORDER-TOP:black 0pt; BORDER-RIGHT:black 0pt; VERTICAL-ALIGN: TOP; BORDER-BOTTOM:black 0pt; PADDING-LEFT:0.50em; BORDER-LEFT:black 0pt; PADDING-RIGHT:0.50em\n}\n.prngen3{\nBORDER-TOP:black 0pt; BORDER-RIGHT:black 0pt; VERTICAL-ALIGN: BOTTOM; BORDER-BOTTOM:black 0pt; PADDING-LEFT:0.50em; BORDER-LEFT:black 0pt; PADDING-RIGHT:0.50em\n}\n.prnsbt0{\nBORDER-TOP:0pt\n}\n.prnsbr0{\nBORDER-RIGHT:0pt\n}\n.prnbcc{\nBORDER-COLLAPSE: COLLAPSE\n}\n.prnsbl0{\nBORDER-LEFT:0pt\n}\n.prnsbb0{\nBORDER-BOTTOM:0pt\n}\n\n\n\n\n\n\n\nCanada NewsWire\nVANCOUVER, BC, Aug. 6, 2020\n\n\n\nVANCOUVER, BC, Aug. 6, 2020 /CNW/ - Contact Gold Corp. (the \"Company\" or \"Contact Gold\") (TSXV: C) (OTCQB: CGOL), is pleased to announce that it intends to offer units of the Company (\"Units\") pursuant to a proposed public offering (the \"Offering\").  Each Unit will consist of one share of common stock in the capital of the Company (a \"Share\", and as a constituent of the Unit, a \"Unit Share\") and one-half of one Share purchase warrant (each whole warrant, a \"Warrant\"), with each Warrant entitling the holder thereof to acquire one Share at an exercise price and term to be determined in the context of the market. \nThe Company also announces the entering into of a binding letter of intent (the \"LOI\") with Waterton Nevada Splitter, LLC (\"Waterton\"), a significant shareholder of the Company, to redeem all or a portion of the currently outstanding Class A Shares of Preferred Stock of the Company (\"Preferred Shares\") (which may be coupled with a private placement with Waterton to fund the redemption of the remaining portion of the Preferred Shares), or undertake an amendment to the terms of the Preferred Shares, subject to certain terms and conditions as further described below.\nMatthew Lennox-King stated, \"A successful offering will allow the Company to launch exploration programs at the Green Springs and Pony Creek proje...