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Caldas Gold Corp
Symbol CGC
Shares Issued 77,520,440
Close 2020-09-28 C$ 2.74
Recent Sedar Documents

Caldas Gold appoints Couch to board

2020-09-29 08:00 ET - News Release

Mr. Mike Davies reports

CALDAS GOLD COMPLETES EXERCISE OF SPECIAL WARRANTS; ANNOUNCES LISTING OF NEW WARRANTS; JEFFREY COUCH APPOINTED AS DIRECTOR

Further to its news release dated Sept. 21, 2020, in connection with Caldas Gold Corp.'s previously completed bought deal private placement offering of special warrants, an aggregate of 22,222,222 special warrants were automatically exercised as of 5 p.m. EST on Sept. 28, 2020, resulting in the issuance of 22,222,222 common shares and 22,222,222 common share purchase warrants to holders of the special warrants.

The warrants will begin trading on the TSX Venture Exchange as of market open on Wednesday, Sept. 30, 2020, under the symbol CGC.WT. For further details regarding the warrants, please see the news release of the company dated July 29, 2020, available on the company's website or under the company's SEDAR profile.

Updated capitalization of the company

As of Sept. 28, 2020, the company now has the securities issued and outstanding as displayed in the attached table.

                              TSX-V                                Common     Exercise price              Expiry or
Securities                   symbol           Number      shares issuable   per common share          maturity date
                                                                                                           
Common shares                   CGC       99,767,662                                                          
                                                                                                           
Stock options                                255,000              255,000              $2.10          Feb. 25, 2021
                                           4,550,000            4,550,000              $2.00          March 1, 2025
                                             160,000              160,000              $2.50          June 26, 2025
                                             200,000              200,000              $2.73         Sept. 17, 2022
                                           5,165,000            5,165,000             
Warrants                   Unlisted       10,792,500           10,792,500              $3.00          Dec. 19, 2024
Warrants                   Unlisted (1)   22,222,222           22,222,222              $2.75          July 29, 2025 (2)
Broker warrants            Unlisted          125,550              125,550              $2.00          Dec. 19, 2022
                                                                  125,550              $3.00          Dec. 19, 2024
Subscription receipts (3)  Unlisted           83,066                                                                   

Notes
  
(1) The warrants will begin trading on the TSX Venture Exchange on Sept. 30, 2020, under the symbol CGC.WT.

(2) The company may accelerate the expiry date of the warrants after July 29, 2023, in the event that the closing price 
    of the common shares on the TSX-V (or such other exchange on which the common shares may principally trade at such 
    time) is greater than $2.75 per share for a period of 20 consecutive trading days, by giving notice to the holders 
    of warrants of the acceleration of the expiry date and issuing a concurrent press release announcing same and, in 
    such case, the warrants will expire on the 30th day following the date on which such notice is given and press 
    release issued.

(3) The subscription receipts of the company were issued on Aug. 26, 2020, pursuant to a fully marketed private 
    placement offering at a price of $1,000 (U.S.) per subscription receipt. Upon the satisfaction of certain escrow 
    release conditions contained in the subscription receipt agreement entered into by the company, each subscription 
    receipt shall convert and entitle the holder thereof to receive one unit of the company, with each unit comprising 
    one senior secured gold-linked note in a principal amount of $1,000 (U.S.) ($83,066,000 (U.S.) aggregate principal 
    amount) and 200 warrants (16,613,200 warrants in the aggregate). Each warrant will entitle the holder thereof to 
    acquire one common share at a price of $2.75 per share until July 29, 2025. The company has received conditional 
    approval from the TSX-V to list such additional warrants when issued upon conversion of the subscription receipts, 
    which will be listed on the TSX-V under the symbol CGC.WT and will be subject to the same accelerated expiry 
    provision as described in note (2) above.


  
   

Appointment of new director

The company is also pleased to announce the appointment of Jeffrey Couch to the board of directors of the company. Mr. Couch is a financial services executive with extensive experience in the natural resources sector, having advised and raised capital for clients globally, with a particular focus on emerging markets. Currently Mr. Couch is working with Orion Resource Partners, a mining-focused private equity firm with over $6-billion (U.S.) under management. Mr. Couch has worked with several financial services firms in Europe, including being head of investment banking Europe for BMO Capital Markets (Bank of Montreal), and has also had senior investment banking roles with Credit Suisse Europe and Citigroup (Solomon Brothers). Mr. Couch also has public board experience on both the Toronto Stock Exchange and the London Stock Exchange. He holds both an undergraduate business degree and a law degree.

About Caldas Gold Corp.

Caldas Gold is a Canadian junior mining company currently advancing a major expansion and modernization of its underground mining operations at its Marmato project in the department of Caldas, Colombia. Caldas Gold also owns 100 per cent of the Juby project, an advanced exploration-stage gold project located within the Shining Tree area in the southern part of the Abitibi greenstone belt about 100 km south-southeast of the Timmins gold camp.

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