Montage Gold Corp. Announces Pricing of Initial Public Offering and Files Final Prospectus
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Montage Gold Corp. Announces Pricing of Initial Public Offering and Files Final Prospectus
Vancouver, British Columbia – October 20, 2020 – Montage Gold C orp. (“Montage” or the “Company”)
today announced that it has obtained a receipt for its final prospectus filed with the securities regulatory
authorities in each of the provinces of Canada, except Québec, in connection with its initial public offering
(the “Offering”) of 27,272,728 common shares at a price of $1.10 per share (the “Offering Price”) for gross
proceeds of $30,000,001. Due to strong demand, the Offering was upsized by an additional $5,000,000
and the Company is very pleased to welcome its new shareholders as it looks forward to completing the
initial public offering. A copy of the final prospectus in resp ect of the Offering is available on SEDAR at
www.sedar.com.
Raymond James Ltd. and Stifel GMP are acting as co‐lead underwr iters for the Offering on behalf of a
syndicate that includes BMO Nesbitt Burns Inc., Canaccord Genuity Corp., Beacon Securities Limited,
Cormark Securities Inc. and Sprott Capital Partners LP.
Montage has granted the underwriters an over‐allotment option ( the “ Over‐Allotment Option ”),
exercisable in whole or in part, at the sole discretion of the underwriters, at any time and from time to
time, for a period of 30 days following the closing of the Offering, to purchase up to an additional 15% of
the common shares issued pursuant to the Offering from Montage at the Offering Price.
The closing of the Offering is expected to occur on or about October 23, 2020 (the “Closing Date”) and is
subject to customary closing conditions, including the receipt of all necessary regulatory approvals.
Montage has received conditional listing approval of the TSX Venture Exchange (the “TSXV”) for the listing
of its common shares, including those being issued and sold pursuant to the Offering. Listing remains
subject to Montage fulfilling customary TSXV requirements. The c o m m o n s h a r e s a r e e x p e c t e d t o
commence trading on the TSXV under the symbol “MAU” on the Closing Date.
The net proceeds of the Offering will be used to advance the drilling program at the Company’s Morondo
Gold Project, to advance a Preliminary Economic Assessment and a Feasibility Study at the Morondo Gold
Project, to fund operating costs and for general corporate and administrative purposes, as set out in the
final prospectus.
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 regist ered 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 applicab le state securities laws. This news release does not constitute an offer to
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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 min eral resource of 52.5Mt grading 0.91 g/t
for 1,536koz of gold, based on a 0.5 g/t cutoff 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 Projec t, 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 Geologica l 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
Executive Vice President, Corporate Development
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Forward Looking Statements
This press release contains certa in 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 expre ssions are intended to identify Forward‐
looking Statements. Forward looking Statements in this press re lease include statements related to the
completion of the Offering, the listing of the Company’s common shares on the TSXV, the proceeds to be
raised pursuant to the Offering, the exercise of the Over‐Allotment Option, the use of proceeds from the
Offering, 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 anticipate d 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, unc ertainties inherent in the exploration of
mineral properties, the Company’s ability to complete the Offer ing, 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 event s o r o t h e r w i s e , e x c e p t a s m a y b e
required by law. New factors emerge from time to time, and it i s 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 cont ained in any Forward ‐looking Statement.
Any Forward‐looking Statements contained in this press release are expressly qualified in their entirety
by this cautionary statement.