Revocation of Cease Trade Order and Corporate Update
Revocation of Cease Trade Order and
Corporate Update
VICTORIA, BC
,
Feb. 4, 2022
/CNW/ - Cosigo Resources Ltd. ("Cosigo" or the "Company") (TSXV:
CSG.H) (NEX: CSG.H) announces revocation of cease trade order on
February 1, 2022
upon
satisfying the previously pending financial disclosure requirements of the British Columbia Securities
Commission and the Alberta Securities Commission, the two jurisdictions the Company is under
continuous disclosure reporting requirements to.
Corporate Update
Debt Conversion
Cosigo was granted a partial lifting of the CTO issued on
January 22, 2021
for purposes of issuance
of debt conversion units related to shareholder loans provided by certain shareholders in order to
ensure the survival of the Company while the Company was being re-constituted in accordance with
instructions from regulatory authorities. The debt conversion was structured in compliance with
accredited investor exemptions in section 2.3 of National Instrument 45-106 Prospectus Exemptions
(NI45-106), and family, friends and business associates exemption in section 2.5 of that instrument.
Funds were employed for legal fees, auditors and consultants fees, title maintenance fees, transfer
agent and listing fees, bookkeeping, and general working capital.
The debt conversion units were issued at a deemed price of
$0.05
and comprised one common
share and one warrant exercisable at
$0.06
for one share for a period of 12 months from the date of
issuance,
July 15
, 2021. The amount of converted loans was
CAD$292,099.45
.
The share for debt conversion was filed with the Toronto Stock Exchange, Venture Section, on
September 1, 2021
, and will become effective when reviewed and accepted.
Corporate Appointments
The Company, effective
August 17, 2021
, appointed
Ian Gibson
of
Vancouver
, B. C.,
Canada
, as an
Independent Director to its Board of Directors to fulfill independent requirements per TSX-V, NEX
Policy 3.1(a). Mr. Gibson is a
Vancouver
-based international businessman with a history of working
with junior and senior resource companies and strengthens the financial capacity of the Company.
The Company, effective
September 9, 2021
, appointed
Greg Jackson
, CPA, CMA, to the position of
Chief Financial Officer. Mr. Jackson has close to 20 years of financial and accounting functions,
chiefly in the mining industry, including 8 years with a world-leader in nickel and cobalt mining and
refining.
Reinstatement
Because the Company's prior Annual General Meeting was held on
May 1, 2018
, the Company was
deficient with regards to TSX-V Policy 3.2 (4.1) AGM Requirements. Following circulation of Notice
on
August 17, 2021
, the Company duly held an AGM on
October 12, 2021
, and is now in compliance
with Policy 3.2(4.1).
The Company has now received full revocation of the CTO but trading can only be resumed following
reinstatement review by the TSX-V exchange.
About Cosigo
Cosigo Resources Ltd. is a
British Columbia
-based resource company with mineral interests in
Colombia
,
Brazil
,
USA
and Canada. The Company has assembled a strong technical team of
professionals, well experienced in mineral exploration, mining, and resource finance with the
objective of advancing its properties, initially to pre-feasibility status and ultimately, in partnership
with one or more mining companies, to mine status.
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 of the adequacy or accuracy of
this release.
Forward Looking Statements
This news release includes certain forward-looking statements or information. There can be no
assurance that such statements will prove to be accurate and actual results and future events could
differ materially from those anticipated in such statements. Important factors that could cause
actual results to differ materially from the Company's plans or expectations include regulatory
issues, market prices, availability of capital and financing, general economic, market or business
conditions, timeliness of government or regulatory approvals, The Company disclaims any
intention or obligation to update or revise any forward-looking statements whether because of new
information, future events or otherwise, except as otherwise required by applicable securities
legislation.
SOURCE
Cosigo Resources Ltd.
View original content:
http://www.newswire.ca/en/releases/archive/February2022/04/c9320.html
%SEDAR: 00004241E
For further information:
Cosigo Resources Ltd., Andy Rendle, Director & COO,
CO: Cosigo Resources Ltd.
CNW 22:19e 04-FEB-22