Canagold Resources Ltd Stock Price, News & Analysis

Canagold Resources Ltd. has appointed Catalin Kilofliski as the new CEO following the resignation of Scott Eldridge as of August 02, 2022. Kilofliski, who previously served as Canagold's CEO from 2014 to 2018, has over 25 years of executive experience and significant expertise in mining operations. He is credited for dramatically increasing Tudor Gold Corp's market capitalization. Mike Doyle joins as a director, bringing 35 years of experience in mining and exploration. The leadership change is expected to advance Canagold's New Polaris Project.

Canagold Resources held its Annual and Special Meeting on July 19, 2022, where 68.73% of outstanding shares were voted. Shareholders elected new board members, including Dr. Carmen Letton and Ms. Sofia Bianchi, while three nominees withdrew. Voting results showed strong support, with 99.21% votes for Letton. The reappointment of Smythe LLP as auditors was approved, but the amendment to the Stock Option Plan was declined. The board expressed commitment to governance and advancing Canagold's projects, aiming at enhancing shareholder value.

Canagold Resources Ltd. (OTC-QB:CRCUF) has released promising results from its recent infill drill program at the New Polaris Gold project in BC. The 30,000-meter program confirms the high-grade and continuous nature of the C-West Main deposit, with significant intercepts including 13.6 gpt over 25.1 meters. The drilling supports potential resource upgrades, while exploration holes have revealed deeper mineralized veins. An interim resource estimate is underway to incorporate these findings, reinforcing Canagold's commitment to advancing the project.

Canagold Resources Ltd. (OTCQB: CRCUF) announced strong shareholder support for its upcoming AGM vote. The company corrected multiple inaccuracies in a proxy report by ISS, stating that the dissident's financing proposal is a 20% discount compared to Canagold’s previous financing, and emphasized the importance of evaluating better financing alternatives. ISS advised a vote WITHHOLD for dissident nominee Andrew Trow and warned of risks associated with the dissident's proposal. Shareholders are reminded to submit their YELLOW proxies by July 15, 2022, at 10 a.m. (Pacific Time).

Canagold Resources Ltd. (OTCQB: CRCUF) reports strong shareholder support for its upcoming AGM vote. The company corrects several errors in the ISS Proxy Advisory Report, highlighting misinformation from a dissident group. Key corrections include claims about financing proposals and management’s capabilities. Canagold urges shareholders to vote using the YELLOW proxy before the deadline on July 15, 2022, at 10 a.m. PT. The company emphasizes that dissenters lack a compelling case for board change and that their nomination does not benefit all shareholders.

Canagold Resources Ltd. (CRCUF) has successfully sold its 100% interest in the Hot Springs Point property, located in Eureka County, Nevada, for $480,000 USD. Acquired in 2017, this property is part of Canagold's broader portfolio of 14 mineral properties and two royalties. CEO Scott Eldridge stated that the sale allows the company to focus on its flagship New Polaris project in British Columbia. Additionally, Canagold is currently receiving interest in seven other properties available for option or lease, aiming to enhance shareholder value.

Canagold Resources Ltd. (OTC-QB: CRCUF) urges shareholders to reject a rival bid from SunValley Company, highlighting the strengths of its board nominees and the purported flaws in SunValley's strategic plan. Canagold accuses SunValley of misinformation and emphasizes management's experience and successful advancements at the New Polaris project, which boasts an estimated Net Present Value of $333 million. Canagold has appointed PI Financial Corp. as a financial advisor to explore financing options, while urging shareholders to support its nominees using the yellow proxy before the July 15 deadline.

Canagold Resources Ltd. has issued a statement urging shareholders to ignore the misinformation propagated by SunValley Company DMCC regarding a proxy fight. The company asserts that SunValley is attempting a hostile takeover by seeking to control the board while holding only 17% of shares. Canagold emphasizes the importance of voting for its management nominees using the YELLOW Proxy to protect shareholder interests. The press release disputes claims made by SunValley, reinforcing Canagold's commitment to evaluate all financing options without bias and prioritize the benefits for all shareholders.