Montage Gold Corp. Announces Full Exercise of Underwriters’ Over-Allotment Option
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OR DISSEMINATION DIRECTLY OR INDIRECTLY, IN WHOLE OR IN PART, IN OR INTO THE UNITED STATES
Montage Gold Corp. Announces Full Exercise of Underwriters’ Over-Allotment Option
Vancouver, British Columbia – October 30, 2020 – Montage Gold Corp. (“Montage” or the “Company”)
today announced that in connection with its previously announced upsized ini tial public offering (the
“Offering”) of an aggregate of 27,272,728 common shares (the “Shares”) at a price of $1.10 per Share
(the “Offering Price”) for tota l gross proceeds of $30,000,001, which closed on October 23, 2020, the
underwriters have fully-exercised their over-allotment option to acquire an additional 4,090,909 Shares
at the Offering Price resulting in additional aggregate gross proceeds of approximately $4,500,000.
Raymond James Ltd. and Stifel GMP acted as co -lead underwriters for the Offeri ng with resp ect to a
syndicate that included BMO Nesbitt Burns Inc., Canaccord Genuity Corp., Beacon Securities Limited,
Cormark Securities Inc., and Sprott Capital Partners LP.
No securities regulatory authority has either approved or disapproved of the contents of this news
release. The common shares have not been and will not be registered under the United States Securities
Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws. Accordingly, the common
shares may not be offered or sold within the United States unless registered under the U.S. Securities Act
and applicable state securities laws or pursuant to exemptions from the registration requirements of the
U.S. Securities Act and applicable state securities laws. This news r elease does not constitute an offer to
sell or a solicitation of an offer to buy any securities of the Company in any jurisdiction in which such offer,
solicitation or sale would be unlawful.
About Montage Gold Corp.
Montage Gold Corp. is a Canadian-based precious metals exploration and development company focused
on opportunities in Côte d’Ivoire. The Company’s flagship property is the Morondo Gold Project (“MGP”),
located in northwest Côte d’Ivoire, which hosts an Inferred Mineral Resource of 52.5Mt grading 0.91 g/t
for 1,536koz of gold, based on a 0.5 g/t cut-off grade. Montage has a management team and board with
significant experience in discovering and developing gold deposits in Africa. The Inferred Mineral Resource
was estimated using an optimal pit shell generated for constraining Inferred Mineral Resources with
dimensions of approximately 1,100 m by 620 m, with a maximum depth of around 260 m, and used a gold
price of US$1,500/oz. See the Company’s amended and restated technical report entitled “Amended and
Restated NI 43-101 Technical Report for the Morondo Gold Project, Côte d'Ivoire” with an effective date
of September 17, 2020, available on SEDAR at www.sedar.com, which was prepared for the Company by
Jonathon Robert Abbott, BASc Appl. Geol, MAIG, of MPR Geological Consultants Pty Ltd. and Remi Bosc,
Eurgeol, of Arethuse Geology SARL, who are “qualified persons” and “independent” of Montage within
the meanings of NI 43-101.
For Further Information, Contact:
Adam Spencer
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Executive Vice President, Corporate Development
Forward Looking Statements
This press release contains certain forward -looking information and forward -looking statements within
the meaning of Canadian securities legislation (collectively, “Forward -looking Statements”). All
statements, other than statements of historical fact, constitute Forward-looking Statements. Words such
as “will”, “intends”, “proposed” and “expects” or similar expressions are intended to identify Forward -
looking Statements. Forward looking Statements in this press release include statements related to the
Company’s resource properties, and the Company’s plans, focus and objectives. Forward -looking
Statements involve various risks and uncertainties and are based on certain factors and assumptions.
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 expectations include uncertainties related to
fluctuations in gold and other commodity prices, uncertainties inherent in the exploration of mineral
properties, the impact and progression of the COVID -19 pandemic and other risk factors set forth in the
Company’s final prospectus under the heading “Risk Factors”. The Company undertakes no obligation to
update or revise any Forward-looking Statements, whether as a result of new information, future events
or otherwise, except as may be required by law. New factors emerge from time to time, and it is not
possible for Montage to predict all of them, or assess the impact of each such factor or the extent to which
any factor, or combination of factors, may cause results to differ materially from those contained in any
Forward-looking Statement. Any Forward-looking Statements contained in this press release are expressly
qualified in their entirety by this cautionary statement.