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Compass Gold Announces Private Placement of Units for Gross Proceeds of Up To $5 Million
Toronto, Ontario--(Newsfile Corp. - February 3, 2026) - Compass Gold Corporation (TSXV: CVB) (...
About this update from Compass Gold Corporation
[{"type":"text","content":"Compass Gold Announces Private Placement of Units for Gross Proceeds of Up To $5 MillionToronto, Ontario--(Newsfile Corp. - February 3, 2026) - Compass Gold Corporation (TSXV: CVB) (\"Compass Gold\" or the \"Company\") announced today that it has entered into letter agreement pursuant to which Canaccord Genuity Corp. has agreed to act as sole agent and bookrunner (the \"Agent\"), in connection with a best efforts private placement of a minimum of 21,052,630 and up to a maximum of 26,315,800 units of the Company (the \"Units\") at a price of $0.19 per Unit for gross proceeds of between approximately $4,000,000 and $5,000,000 (the \"Offering\").Each Unit will consist of one common share of the Company and one common share purchase warrant (a \"Warrant\"). Each Warrant shall entitle the holder to purchase one common share of the Company at a price of C$0.25 at any time on or before that date which is 3 years following the Closing Date (as herein defined).The net proceeds from the sale of Units will be used for the evaluation and establishment of a gold processing facility at the Company's Massala prospect, drilling, completion of a metallurgical study, bulk sampling and general corporate purposes and working capital as set out in the offering document.In addition, the Company has granted the Agent an option, exercisable in full or part up to 48 hours prior to the Closing Date, to sell up to an additional 3,947,370 Units at the offering price of $0.19 per Unit, for additional gross proceeds of up to approximately $750,000.The Offering is expected to close on or about February12, 2026, or such other date as the Company and the Agent may agree (the \"Closing Date\"), and is subject to certain conditions including, but not limited to, the execution of a definitive agency agreement between the Company and the Agent, and the receipt of all necessary regulatory and other approvals including the conditional approval of the TSX Venture Exchange.Subject to compliance with applicable regulatory requirements and in accordance with National Instrument 45-106 - Prospectus Exemptions (\"NI 45-106\"), the Units will be offered for sale to purchasers resident in Canada and/or other jurisdictions pursuant to the listed issuer financing exemption under Part 5A of NI 45-106, as amended and supplemented by Coordinated Blanket Order 45-935 Exemptions fr...