Business
Compass Gold Closes $700,000 Private Placement
Investor Demand Increases Previously Announced Proceeds by $100,000Toronto, Ontario--(Newsfile Corp. - September 25, 2025) - Compass Gold Corporation (TSXV: CVB) ("Compass" or the "Company") announced today that it has issued, on a non-brokered private placement basis, 4,666,667 units of the Company ("Units"), at a price of $0.15 per Unit, for aggregate gross proceeds of $700,000 (the "Offering"). Each Unit consisted of one common share of the Company (a "Common Share") and one-half of one...
About this update from Compass, Inc.
[{"type":"text","content":"Investor Demand Increases Previously Announced Proceeds by $100,000","length":67,"tagName":"p","attribs":{"class":"nfSubHeading"},"className":""},{"type":"text","content":"Toronto, Ontario--(Newsfile Corp. - September 25, 2025) - Compass Gold Corporation (TSXV: CVB) ("Compass" or the "Company") announced today that it has issued, on a non-brokered private placement basis, 4,666,667 units of the Company ("Units"), at a price of $0.15 per Unit, for aggregate gross proceeds of $700,000 (the "Offering"). Each Unit consisted 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 thereof to purchase one additional Common Share at a price of $0.20 for a period of two years from the date of issuance. As a result of investor demand, the final gross proceeds of the Offering exceeded the Company's previously announced Unit purchase commitments by $100,000. (See Compass news release dated September 16, 2025.)","length":947,"tagName":"p"},{"type":"text","content":"The proceeds of the Offering will be used to fund the continuing development and initial execution of the Company's Small Mine Strategy at Massala, and for general corporate purposes.","length":187,"tagName":"p"},{"type":"text","content":"Additional details concerning the Offering","length":42,"tagName":"p"},{"type":"text","content":"In connection with the Offering, and subject to compliance with the policies of the TSX Venture Exchange and applicable securities legislation, the Company paid finder's fees equal to 7.0% of the gross proceeds received from the sale of certain Units. In aggregate, the Company paid $4,200 in cash, and issued 121,333 Common Shares (at a deemed value of $0.15 per Common Share) as finder's fees pursuant to the Offering.","length":428,"tagName":"p"},{"type":"text","content":"Insiders of the Company purchased an aggregate of 273,335 Units under the Offering for total consideration of $41,000. Such participation is considered a "related party transaction" within the meaning of Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions ("MI 61-101"). Participation by insiders in the Of...