Candente Gold announces proposed Warrants Extension
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Candente Gold announces proposed Warrants Extension
Vancouver, British Columbia ( July 27th, 2020) Candente Gold Corp. (TSXV:CDG) (“ Candente
Gold” and/or the “ Company”) advises that it has applied to the TSX Venture Exchange
(“TSXV”) for approval to extend the exercise period of a total of 5,000,000 outstanding share
purchase warrants (the “ Warrants”) issued pursuant to the private placement completed on
August 12, 2016. The amended expiry date was August 12th, 2020 and if the extension is approved,
the new expiration date will be August 12th, 2021.
The exercise price of the Warrants will remain unchanged at $0.10 with the acceleration clause
unchanged as follows: “Each full warrant will be exercisable for one additional share of the
Company’s common stock (a “ Warrant Share”) at a conversion price of $0.10, subject to an
acceleration provision triggered if at any time the Company’s common shares have a closing price
on the TSX Venture Exchange at or above a pric e of Cdn $0.20 per share for a period of 10
consecutive trading days”. The acceleration would be triggered by a news release that would give
warrants holders 40 days to exercise.
The proposed Warrant extension remains subject to the TSXV approval.
About Candente Gold
Candente Gold has launched a comprehensive growth strategy to build a cash flowing business
platform and gain access to properties with near surface exploration potential while maintaining
El Oro as its flagship asset and an integral part of the overall growth strategy. The acquisition of
the SDA Plant and the El Dorado historic mines signifies an important first step.
The financial benefits from Western Mexico operations and the addition of specialized personnel
will translate across platfor ms to strengthen our efforts to explore and potentially mine. The
Company is currently evaluating properties that are complimentary to the SDA plant and El
Dorado Property.
El Oro is a district scale gold project encompassing a well -known prolific high -grade gold
dominant gold-silver epithermal vein system in Mexico. The project covers 20 veins with past
production and more than 57 veins in total, from which approximately 6.4 million ounces of gold
and 74 million ounces of silver were reported to have been produced from just two of these veins
(Ref. Mexico Geological Service Bulletin No. 37, Mining of the El Oro and Tlapujahua Districts,
1920, T. Flores*)
Modern understanding of epithermal vein systems indicates that several of the El Oro district’s
veins hold excellent discovery potential, particularly below and adjacent to the historic workings
of the San Rafael Vein, which was mined to an average depth of only 200 metres.
Joanne C. Freeze, P.Geo., President, CEO and Director and Matthew Melnyk, CPG., Director
Operations are Qualified Persons as defined by National Instrument 43 -101 for the projects
discussed above. Ms. Freeze and Mr. Melnyk have revie wed and approved the contents of this
release.
NEWS RELEASE
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Neither TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the
adequacy or accuracy of this release.
Forward-looking Information
This news release may contain forward -looking information (as such term is defined under Canadian
securities laws) including but not limited to information regarding the potential for discovery in the El
Oro district and other statements that are not historical facts. While such forward -looking information
is expressed by Candente Gold in good faith and believed by Candente Gold to have a reasonable basis,
they address future events and conditions and are therefore subject to inherent risks and uncertainties
including those set out in Candente Gold’s MD&A. Factors that cause the actual results to differ materially
from those in forward-looking information include, without limitation, gold prices, results of exploration
and development activities, regulatory changes, defects in title, availability o f materials and equipment,
timeliness of government approvals, potential environmental issues, availability of capital and financing
and general economic, market or business conditions. Candente Gold expressly disclaims any intention
or obligation to updat e or revise any forward -looking information, whether as a result of new
information, future events or otherwise, except in accordance with applicable securities laws.
On behalf of the Board of Candente Gold Corp.
“Joanne Freeze” P.Geo.
For further information please contact:
Joanne Freeze
President & CEO
+1 (604) 689-1957
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