C - Contact Gold Receives Final Court Order Approving Arrangement
(TheNewswire)
Vancouver, BC – TheNewswire - April 25, 2024 – Contact Gold Corp. (“Contact Gold” or the “Company”)(TSXV:C) (OTC:CGOLF) is pleased to announce that it has received afinal order from the Supreme Court of BritishColumbia approving the previously announced business combination with Orla Mining Ltd. (“Orla”) (TSX:OLA) (the “Transaction”) .
I n accordance with the terms ofthe arrangement agreement entered into by the Company and Orla onFebruary 25, 2024, Orla will acquire all of theissued and outstanding common shares of Contact Gold (“Shares”) byway of a statutory plan of arrangement under the Business Corporations Act (British Columbia). Each Contact Gold shareholder willreceive 0.0063 of a common share of Orla for each Share held.
Subject to obtaining all required approvals and thesatisfaction or waiver of all required conditions, the Transaction isexpected to close on or about April 29, 2024. Following closing ofthe Transaction, the Shares will be de-listed from the TSX VentureExchange (“TSXV”) and the OTCQB Venture Market.
Further details regarding the Transaction can be foundin the Company’s management information circular dated March 20,2024 which is filed on SEDAR+ at www.sedarplus.ca.
Contact Gold is an exploration company focused on making districtscale gold discoveries in Nevada. The Company’s extensive landholdings are on the prolific Carlin and Cortez gold trends which hostnumerous gold deposits and mines. Contact Gold’s land positioncomprises approximately 117.4 km 2 of target rich mineral tenure hostingnumerous known gold occurrences, ranging from early- toadvanced-exploration and current gold resources.
Additional information about the Company is available at www.contactgold.com .
Formore information, please contact: +1 (604) 449-3361
Matthew Lennox-King – President & CEO
E-mail: info@contactgold.com
Neither TSXV nor its Regulations Services Provider (as that term is defined in policies of the TSXV) acceptsresponsibility for the adequacy or accuracy of this release. No stockexchange, securities commission or other regulatory authority hasapproved or disapproved the information contained herein.
Forward-LookingStatements
This news release contains“forward-looking information” and “forward-looking statements”(collectively, “forward-looking statements”) within the meaning ofthe applicable Canadian securities legislation. All statements, otherthan statements of historical fact, are forward-looking statements andare based on expectations, estimates and projections as at the date ofthis news release. Any statement that involves discussions withrespect to predictions, expectations, beliefs, plans, projections,objectives, assumptions, future events or performance (often but notalways using phrases such as “expects”, or “does not expect”,“is expected”, “anticipates” or “does not anticipate”,“plans”, “budget”, “scheduled”, “forecasts”,“estimates”, “believes” or “intends” or variations of suchwords and phrases or stating that certain actions, events or results“may” or “could”, “would”, “might” or “will” betaken to occur or be achieved) are not statements of historical factand may be forward-looking statements. In this news release,forward-looking statements relate, among other things, to statementsregarding the completion of the Transaction, including thesatisfaction or waiver of all customary closing conditions, and thetiming thereof.
These forward-looking statements arebased on reasonable assumptions and estimates of management of theCompany at the time such statements were made. Actual future resultsmay differ materially as forward-looking statements involve known andunknown risks, uncertainties and other factors which may cause theactual results, performance or achievements of the Company tomaterially differ from any future results, performance or achievementsexpressed or implied by such forward-looking statements. Such factors,among other things, include: fluctuations in general macroeconomicconditions; fluctuations in securities markets; fluctuations in spotand forward prices of gold, silver, base metals or certain othercommodities; fluctuations in currency markets (such as the Canadiandollar to United States dollar exchange rate); change in national andlocal government, legislation, taxation, controls, regulations andpolitical or economic developments; risks and hazards associated withthe business of mineral exploration, development and mining (including environmentalhazards, industrial accidents, unusual or unexpected formationspressures, cave-ins and flooding); inability to obtain adequateinsurance to cover risks and hazards; the presence of laws andregulations that may impose restrictions on mining; employeerelations; relationships with and claims by local communities andindigenous populations; availability of increasing costs associatedwith mining inputs and labour; the speculative nature of mineralexploration and development (including the risks of obtainingnecessary licenses, permits and approvals from governmentauthorities); and title to properties. Although the forward-lookingstatements contained in this news release are based upon whatmanagement of the Company believes, or believed at the time, to bereasonable assumptions, the Company cannot assure shareholders thatactual results will be consistent with such forward-lookingstatements, as there may be other factors that cause results not to beas anticipated, estimated or intended. Readers should not place unduereliance on the forward-looking statements and information containedin this news release. The Company assumes no obligation to update theforward-looking statements of beliefs, opinions, projections, or otherfactors, should they change, except as required by law.
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