Subject: News Release for Immediate Dissemination
PDF Document
File: Attachment Sun-Valley-March-28-EW-PR.pdf
SUN VALLEY INVESTMENTS AG ANNOUNCES ACQUISITION OF SECURITIES OF
CANAGOLD RESOURCES INC.
March 28, 2024
Vancouver, British Columbia This news release is related to the common shares of Canagold
Resources Ltd. ("Canagold" or the "Company") (TSX: CCM). Sun Valley Investments AG, a
private equity firm (the "Acquiror") announces that it has acquired 15,700,000 common shares of
the Company, which are designated as flow-through common shares of the Company for the
purposes of the Income Tax Act (Canada) (the "Shares") at a price of CAD$0.2625 per Share, as
a back-end purchaser pursuant to a non-brokered private placement of charity flow-through Shares
for a total subscription price of CAD$4,121,250 (the "Private Placement"). The Private
Placement closed on March 28, 2024.
Immediately prior to the Private Placement, the Acquiror owned and/or had control over an
aggregate of 68,338,133 Common Shares, representing approximately 43.28% of the issued and
outstanding Common Shares of the Company on an undiluted basis. Following completion of the
Private Placement, the Acquiror owns and/or has control over an aggregate of 84,038,133
Common Shares, representing approximately 48.41% of the issued and outstanding Common
Shares on an undiluted basis. The Private Placement resulted in an approximate 5.13% change in
the Acquiror's ownership and control over Common Shares of the Company.
The Acquiror has acquired the Shares for investment purposes under an exemption provided under
National Instrument 45-106 Prospectus Exemptions. In the future, the Acquiror may, depending
on market and other conditions, increase or decrease its ownership of the Company's securities,
whether in the open market, by privately negotiated agreements or otherwise, subject to a number
of factors, including general market conditions and other available investment and business
opportunities.
Canagold's head office is located at Suite 810, 625 Howe Street, Vancouver, BC, Canada V6C
2T6.
The Acquiror's head office is located in Bahnhofplatz 6300, Zug, Switzerland.
The Acquiror will file an early warning report in accordance with applicable securities laws, which
will be available under Canagold's profile on SEDAR at www.sedar.com.
For further information, please contact:
Daniel Henao
Partner/VP Business Development
dhenao@sunvalleyinv.com
604-260-7046
© 2024 Canjex Publishing Ltd. All rights reserved.