Toogood Gold Corp. Receives TSX Venture Exchange Approval for Stockley Kennedy Property Option

About this update from Toogood Gold Corp.

[{"type":"text","content":"Toogood Gold Corp. Receives TSX Venture Exchange Approval for Stockley Kennedy Property OptionVancouver, British Columbia--(Newsfile Corp. - August 19, 2025) - Toogood Gold Corp. (TSXV: TGC) (\"Toogood\" or the \"Company\") is pleased to announce that, further to its news release dated August 5, 2025, it has received final approval from the TSX Venture Exchange (the \"TSX-V\") for an option agreement dated July 30, 2025 (the \"Option Agreement\") with United Gold Inc., Chad Kennedy, Stephen Stockley Agriculture and Fabrication Inc., Angie Stockley and Brett Delos Santos (collectively, the \"Optionors\"). Pursuant to the Option Agreement, the Optionors granted the Company the right to acquire a 100% interest in the Stockley Kennedy Property (the \"Property\"), a highly prospective and strategically located mineral claim within the core of the Company's flagship Toogood Gold Project located on New World Island, Newfoundland, Canada (the \"Transaction\").Under the terms of the Option Agreement, and subject to the Royalty and Milestone Payments (each as defined herein), as applicable, the Optionors have granted Toogood the option to acquire a 100% interest in the Property for total consideration of $130,000 in cash and $200,000 in common shares of the Company (up to a maximum of 4,000,000 common shares). The consideration is payable as follows: (i) $50,000 in cash on the effective date of the Option Agreement; (ii) $50,000 in common shares, to be issued as soon as reasonably practicable following TSX-V approval, consisting of 152,625 common shares at a deemed price of $0.3276 per share; (iii) $30,000 in cash and $50,000 in common shares on or before the first anniversary of the effective date; and (iv) $50,000 in cash and $100,000 in common shares on or before the second 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; or, in the case of any assignee or affiliate that is not listed but has applied to list its shares on a Canadian stock exchange, (i) the price at which any financing is being conducted concurrently with su...

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