Damara Announces the Issuance of Final Tranche of Shares to Canagold Resources Ltd. Under the Assignment Agreement
335 – 1632 Dickson Avenue • Kelowna, BC V1Y 7T2
Phone: (250) 717-1840 • www.damaragoldcorp.com
NEWS RELEASE
Damara Announces the Issuance of Final Tranche of Shares to Canagold Resources Ltd.
Under the Assignment Agreement
January 4, 2022 TSX-V: DMR
DAMARA GOLD CORP. (TSX-V:DMR) (“Damara” or the “Company”) announces further to the news
release of April 30, 2021 announcing the exercise of the option (“the “Option”) from Universal Copper
Ltd. (“Universal”) and Sydney Wilson (“Wilson”) via an assignment agreement (the “ Assignment”)
between Damara and Canagold Resources L td. (“ Canagold”) pursuant to which the Company
acquired a 75% interest in the Placer Mountain property, the Company has now issued the final
tranche of 9,841,371 common shares (the “ Canagold Shares ”) to Canagold due on or before
December 31, 2021 in accordance with the Assignment.
Subsequent to the issuance of the Canagold Shares, Canagold beneficially owns or controls
9,841,371 common shares of the Company representing 14.16% of the issued and outstanding
common shares of the Company on a non-diluted and diluted basis. Prior to the issuance Canagold
did not beneficially own or control any securities of the Company.
Canagold acquired the securities for investment purposes. Canagold may, in the future, acquire or
dispose of securities of the Issuer in the market, privately or otherwise, subject to a number of factors,
including general market conditions and other available investment and business opportunities.
A copy of Canagold’s early -warning report will be filed under Damara’s profile on SEDAR and may
also be obtained by calling Canagold’s offices at 604 685 -9700 ( #810 – 625 Howe Street
Vancouver, BC, Canada, V6C 2T6).
The Canagold Shares will be subject to a statutory four month and one day hold period under
applicable securities laws expiring on May 1, 2022.
About Damara
Damara Gold Corp. is a TSX Venture listed mineral exploration company actively focused on the
exploration of the Placer Mountain Gold Property, located in Princeton, BC, held by 75%/25% JV with
Universal Copper Ltd. Damara’s Board of Directors is seasoned in the mineral exploration industry
with extensive and successful international experience.
ON BEHALF OF THE BOARD OF DIRECTORS OF DAMARA
“Larry Nagy”
Larry Nagy, Chief Executive Officer
For additional information visit Damara’s website at www.damaragoldcorp.com or contact:
Damara Gold Corp.
Larry Nagy
Chief Executive Officer or
Terese Gieselman
Chief Financial Officer
Ph: (250-717-1840)
335 – 1632 Dickson Avenue • Kelowna, BC V1Y 7T2
Phone: (250) 717-1840 • www.damaragoldcorp.com
Disclaimer for Forward-Looking Information
This news release contains statements that constitute "forward-looking Information", as such term
is used in applicable Canadian securities laws. Such forward-looking information involves known
and unknown risks, uncertainties and other factors that may cause the Company’s actual results,
performance or achievements, or developments in t he industry to differ materially from the
anticipated results, performance or achievements expressed or implied by such forward -looking
information. Forward-looking information includes statements that are not historical facts and are
generally, but not al ways, identified by the words "expects," "plans," "anticipates," "believes,"
"intends," "estimates," "projects," "potential" and similar expressions, or that events or conditions
"will," "would," "may," "could" or "should" occur.
Although the Company believes the forward-looking information contained in this news release is
reasonable based on information available on the date hereof, by its nature forward -looking
information involves assumptions and known and unknown risks, uncertainties and other factors
which may cause our actual results, level of activity, performance or achievements, or other future
events, to be materially different from any future results, performance or achievements expressed
or implied by such forward-looking information.
Examples of such assumptions, risks and uncertainties include, without limitation, assumptions,
risks and uncertainties associated with general economic conditions; the Covid -19 pandemic;
adverse industry events; the receipt of required regulatory approvals and the timing of such
approvals; that the Company maintains good relationships with the communities in which it
operates or proposes to operate, future legislative and regulatory developments in the mining
sector; the Company ’s ability to access sufficient ca pital from internal and external sources,
and/or inability to access sufficient capital on favorable terms; mining industry and markets in
Canada and generally; the ability of the Company to implement its business strategies;
competition; the risk that any of the assumptions prove not to be valid or reliable, which could
result in delays, or cessation in planned work, risks associated with the interpretation of data, the
geology, grade and continuity of mineral deposits, the possibility that results will not be consistent
with the Company’s expectations, as well as other assumptions risks and uncertainties applicable
to mineral exploration and development activities and to the Company, including as set forth in
the Company’s public disclosure documents filed on the SEDAR website at www.sedar.com.
THE FORWARD -LOOKING INFORMATION CONTAINED IN THIS PRESS RELEASE
REPRESENTS THE EXPECTATIONS OF DAMARA AS OF THE DATE OF THIS PRESS
RELEASE AND, ACCORDINGLY, IS SUBJECT TO CHANGE AFTER SUCH DATE. READERS
SHOULD NOT PLACE UNDUE IMPORTANCE ON FORWARD -LOOKING INFORMATION
AND SHOULD NOT RELY UPON THIS INFORMATION AS OF ANY OTHER DATE. WHILE
DAMARA MAY ELECT TO, IT DOES NOT UNDERTAKE TO UPDATE THIS INFORMATION
AT ANY PARTICULAR TIME EXCEPT AS REQUIRED IN ACCORDANCE WITH APPLICABLE
LAWS.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined
in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy
of this press release