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Compass Gold Corp. reports on gold exploration and small-mine development work in southern Mali. The company, incorporated in Ontario and listed as a TSX Venture Tier 2 issuer, holds gold exploration permits through MGE and Malian subsidiaries that comprise the Sikasso Property, including the Massala prospect on the Tarabala Trend.
Recurring company updates cover shallow diamond drilling, bulk sample processing, metallurgical testing, environmental and mining-permit matters, and technical work under National Instrument 43-101 standards. News also includes financing activity such as private placements, warrants and convertible debenture conversions, along with board and governance changes tied to the company's mining strategy.
Compass Gold Corp. (TSXV: CVB) has completed the second tranche of its non-brokered private placement offering of convertible debenture units. The company raised $175,000 by issuing 175 units at $1,000 each. The offering is subject to TSX Venture Exchange approval, and securities issued have a four-month hold period.
Insiders participated in the offering, purchasing 30 units for $30,000. This related party transaction is exempt from certain regulatory requirements. The offering was not registered under the U.S. Securities Act and cannot be offered or sold in the United States without registration or exemption.
Compass Gold Corp. announced a non-brokered private placement, offering 175 convertible debenture units at $1,000 each, totaling $175,000. This follows a previous issuance on June 30, 2023, which raised $650,000. The proceeds will fund basic operations and preparations for a Small Mining application for the Tarabala Small Gold Mine Project in Mali.
Each unit consists of a $1,000 unsecured convertible debenture and 5,000 warrants, convertible to shares at $0.10 each, with a 10% annual interest rate, maturing on June 30, 2025. Approval from the TSX Venture Exchange is required for interest payments in shares. Insiders will purchase 30 units for $30,000. The offering requires regulatory approval and customary conditions.
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