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Contact Gold Raises $635,000 from Sale of Non-Core Exploration Properties
Vancouver, British Columbia--(Newsfile Corp. - November 5, 2018) - Contact Gold Corp.  ...
About this update from Commodore Metals Corp.
[{"type":"text","content":"Contact Gold Raises $635,000 from Sale of Non-Core Exploration PropertiesVancouver, British Columbia--(Newsfile Corp. - November 5, 2018) - Contact Gold Corp. (TSXV: C) (the \"Company\" or \"Contact Gold\") is pleased to announce it has entered into an agreement to sell its Golden Cloud and Santa Renia properties to a subsidiary of Waterton Precious Metals Fund II Cayman, LP for cash proceeds to Contact Gold of $635,000 (US $485,975) (the \"Transaction\").The Transaction is consistent with the Company's stated objective to derive value from its non-core exploration assets. The Company is focused on advancing its flagship Pony Creek project on the southern Carlin Trend, neighboring Gold Standard Ventures' Railroad project.After the Company completed strategic and technical reviews, it concluded that more value would be derived in the immediate and intermediate terms through a monetization than through continued exploration of the Golden Cloud and Santa Renia properties. Closing to the Transaction is subject to a regulatory approval, applicable Canadian securities laws and the approval of the TSX Venture Exchange (the \"TSVX\").About Contact Gold Corp.Contact Gold is an exploration company focused on producing district scale gold discoveries in Nevada. Contact Gold's extensive land holdings are on the prolific Carlin, Independence and Northern Nevada Rift gold trends which host numerous gold deposits and mines. Upon closing, Contact Gold's land position will comprise approximately 212 km2 of target rich mineral tenure hosting numerous known gold occurrences, ranging from early- to advanced-exploration and resource definition stage. Additional information about the Company is available at www.contactgold.com. For more information, please contact: +1 (604) 416-0576John Glanville - Director Investor RelationsChris Pennimpede - Corporate DevelopmentE-mail: [email protected] the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy of this release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.Cautionary Note Regarding Forward-Looking Information This news release contains \"forward-looking information\" and \"forward-looking statements\" (collec...