Compass to Extend Warrant Expiry Date Options Granted
Compass to Extend Warrant Expiry Date
Options Granted
Toronto, Ontario--(Newsfile Corp. - December 18, 2025) -
Compass Gold Corp. (TSXV: CVB)
(Compass
or
the Company)
announced today that it intends to extend the expiry date of an aggregate
of 7,298,668 common share purchase warrants (the "
Warrants
") to December 31, 2026 (the "
Warrant
Extension
"). All other terms of the Warrants, including the exercise price, will remain unchanged.
The Warrants were originally issued pursuant to a private placement of units, each unit comprising one
common share and one Warrant, which closed on June 3, 2022. Prior to this most recent Warrant
Extension, the Warrants were set to expire December 31, 2025, which has now been extended to
December 31, 2026. Each Warrant entitles the holder to acquire one common share of the Company at
an exercise price of $0.30.
An aggregate of 1,233,334 Warrants are held by insiders of the Company. The extension of the
Warrants, therefore, may constitute a "related party transaction" within the meaning of Multilateral
Instrument 61-101 -
Protection of Minority Shareholders in Special Transactions
("
MI 61-101
"). The
Company is relying on exemptions from the valuation and minority shareholder approval requirements of
MI 61-101 contained in sections 5.5(a) and 5.7(1)(a) of MI 61-101, as the fair market value of the
Warrants subject to the Warrant Extension does not exceed 25% of the market capitalization of the
Company, as determined in accordance with MI 61-101.
The Warrant Extension remains subject to final acceptance by the TSX Venture Exchange.
Compass CEO Larry Phillips
said, "We are implementing this warrant extension after what has
become a two-year suspension of the Malian mining code, which has caused a deferral of the majority of
the activities that were planned over the course of the original warrant term."
"Over the past several months, significant steps have been taken by the Company to prepare for the
receipt of a Small Mine Permit for Massala. We believe that the granting of the final permit by the
Minister of Mines is imminent. With the gold price continuing to rise to record levels on a weekly basis,
the coming year promises to be transformational for Compass and our shareholders."
Granting of Options
The Board of Directors has approved the issuance of 4,150,000 options to officers, employees and
consultants of the Company.
Each option is exercisable into one common share of the Company (each,
a "Common Share") at an exercise price of $0.18 per Common Share and having a term of five years.
The total number of outstanding options under the Company's plan, including the grant above, is now
9,771,000 options or approximately 7.7% of the outstanding Common Shares. The Stock Option Plan
allows for up to 10% of the outstanding Common Shares to be reserved for stock options.
Within the next 30 days, options previously issued to officers and directors of the Company will expire as
follows: 1,126,000 on January 5, 2026, and 315,000 on January 12, 2026.
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 three sites in southern
Mali with a combined land holding of 910 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."
Forward-Looking Information
This news release contains "forward-looking information" within the meaning of applicable securities
laws, including statements regarding the Company's planned exploration work and management
appointments. 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
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.
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