Compass Gold Announces Fully Subscribed $600,000 Private Placement
Compass Gold Announces Fully Subscribed
$600,000 Private Placement
Toronto, Ontario--(Newsfile Corp. - September 16, 2025) - Compass Gold Corp. (TSXV: CVB)
("
Compass
" or the "
Company
") is pleased to announce that it intends to issue, on a non-brokered
private placement basis, 4,000,000 units of the Company ("
Units
"), at a price of $0.15 per Unit, for
aggregate gross proceeds of $600,000 (the "
Offering
").
Each Unit will consist 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.
The proceeds of the Offering, which is fully subscribed, 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.
Larry Phillips, Compass President and CEO, said,
"On behalf of our Board, Management and
Technical teams, we are pleased to receive support for this financing from both existing shareholders
and important new investors. This additional capital strengthens our ability to advance and execute our
Small Mine Strategy."
Additional details concerning the Offering
The Offering is expected to close on or about September 24, 2025.
The Offering is not subject to any
minimum aggregate subscription amount and may close in multiple tranches.
Closing of the Offering is
subject to the receipt of all necessary regulatory approvals, including the approval of the TSX Venture
Exchange.
The Company anticipates that certain insiders of the Company, including officers and/or directors, may
participate in the Offering and any such participation will be 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 such insiders in the Offering will be exempt from the
valuation and minority shareholder approval requirements of MI 61-101 by virtue of the exemptions
contained in Sections 5.5(a) and (b), and 5.7(1)(a), respectively, of MI 61-101.
Further, subject to compliance with the policies of the TSX Venture Exchange and applicable securities
legislation, the Company may pay finder's fees in connection with the Offering consisting of a cash fee of
up to 7.0% of the gross proceeds received from the sale of Units sold to purchasers introduced to the
Company by the finder.
All the securities issuable pursuant to the Offering will be subject to a hold period expiring four months
and one day after the date of issuance.
All dollar amounts referred to in this press release are expressed in Canadian dollars.
The offer and sale of the securities offered in the Offering has not been and will not be registered under
the US Securities Act of 1933, as amended, or any state securities laws, and such securities may not be
offered or sold in the United States absent registration or applicable exemption from such registration
requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy
securities in the United States or in any other jurisdiction in which the offer, sale or solicitation would be
unlawful.
About Compass Gold Corp.
Compass, a public company incorporated into Ontario, is a Tier 2 issuer on the TSX-V. Through the
2017 acquisition of MGE and Malian subsidiaries, Compass holds gold exploration permits located in
Mali that comprise the Sikasso Property.
The exploration permits are located in four sites in southern
Mali with a combined land holding of 1,173 sq. km.
The Sikasso Property is located in the same region
as several multi-million-ounce gold projects, including Morila, Syama, Kalana and Komana.
The
Company's Mali-based technical team, led in the field by Dr. Madani Diallo and under the supervision of
Dr. Sandy Archibald, P.Geo., is conducting the current exploration program. They are examining
numerous anomalies first noted in Dr. Archibald's August 2017 "National Instrument 43-101 Technical
Report on the Sikasso Property, Southern Mali."
Qualified Person
This news release has been reviewed and approved by EurGeol. Dr. Sandy Archibald, P.Geo.,
Compass's Technical Director, who is the Qualified Person for the technical information in this news
release under National Instrument 43-101 standards.
Forward-Looking Information
This news release contains "forward-looking information" within the meaning of applicable securities
laws, including statements regarding the Company's proposed Offering, including the anticipated
Closing of the Offering and the use of proceeds of the Offering. Readers are cautioned not to place
undue reliance on forward-looking information. Actual results and developments may differ materially
from those contemplated by such information. The statements in this news release are made as of the
date hereof. The Company undertakes no obligation to update forward-looking information except as
required by applicable law.
For further information, please contact:
Compass Gold Corporation
Larry Phillips - Pres. & CEO
Greg Taylor - Dir. Investor Relations & Corporate
Communications
T: +1 416-596-0996 X 302
T: +1 416-596-0996 X 301
Website:
www.compassgoldcorp.com
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 RELEASE.
Not for distribution to United States newswire services or for dissemination in the United
States
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https://www.newsfilecorp.com/release/266564