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Toogood Gold Corp. Receives TSX-V Approval for Golden Nugget Property and Announces Additional Ground Consolidation in Newfoundland
Vancouver, British Columbia--(Newsfile Corp. - November 13, 2025) - Toogood Gold Corp. (TSXV: TGC...
About this update from Toogood Gold Corp.
[{"type":"text","content":"Toogood Gold Corp. Receives TSX-V Approval for Golden Nugget Property and Announces Additional Ground Consolidation in NewfoundlandVancouver, British Columbia--(Newsfile Corp. - November 13, 2025) - Toogood Gold Corp. (TSXV: TGC) (FSE: D3P) (\"Toogood\" or the \"Company\") today announced that, further to its news release dated October 1, 2025, it has received final approval from the TSX Venture Exchange (the \"TSX-V\") for an option agreement dated September 20, 2025 (the \"Option Agreement\") between the Company and certain arm's length optionors (collectively, the \"Optionors\"). Pursuant to the Option Agreement, the Optionors have granted Toogood the exclusive right and option to acquire a 100% interest in the Golden Nugget Property (the \"Property\"), a strategically located and highly prospective group of mineral claims contiguous to the Company's flagship Toogood Gold Project on New World Island, Newfoundland, Canada (the \"Transaction\").Under the terms of the Option Agreement, and subject to the royalty and buyback rights described below, Toogood may acquire a 100% interest in the Property for total consideration of $330,000 in cash and $370,000 in common shares of the Company, payable over a four-year earn-in period. Cash payments will be made as follows: $50,000 within one year of the effective date, $70,000 within two years of the effective date, $90,000 within three years of the effective date, and $120,000 within four years of the effective date. The share consideration will be issued as follows: $90,000 in common shares as soon as practicable following TSX-V approval; $40,000 in common shares on the first anniversary of the effective date; $60,000 in common shares on the second anniversary of the effective date; $80,000 in common shares on the third anniversary of the effective date; and $100,000 in common shares on the fourth anniversary of the effective date. The price of the consideration shares will be determined at the time of issuance in accordance with the Option Agreement and will be equal to the greater of: (a) the 20-day volume-weighted average closing price of the common shares on the Company's principal Canadian stock exchange as of the issuance date; and (b) $0.05 per share. If the total market value of the applicable shares issued under the Option Agreement, calculated using the 20-day volume-weighte...