Canadian Gold Corp Announces Strategic Investor Robert McEwen Exercises 3,571,450 Warrants Increasing Ownership to 32.9%"
Rhea-AI Summary
Canadian Gold Corp (TSXV: CGC) announced that Robert McEwen, the company's largest shareholder, has exercised 3,571,450 share purchase warrants at $0.215 per share, generating proceeds of $767,861.75. Following this transaction, McEwen's ownership in the company increased to 32.9%, while McEwen Mining Inc., where he serves as Chairman and CEO, holds an additional 5.7% stake.
A total of 4,608,884 share purchase warrants expiring in May 2025 have been exercised, bringing in total proceeds of $990,910.06. The company now has 205,797,884 shares outstanding and maintains a treasury of approximately $3.9 million, which includes a recent grant from the Manitoba Mineral Development Fund.
Positive
- None.
Negative
- Increased ownership concentration may reduce stock's float and liquidity
News Market Reaction – STRRF
In the trading session that priced this news, STRRF gained 5.03%, reflecting a notable positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
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Flin Flon, Manitoba--(Newsfile Corp. - May 6, 2025) - Canadian Gold Corp. (TSXV: CGC) ("Canadian Gold" or the "Company") announces that Robert McEwen, the Company's largest shareholder, has exercised 3,571,450 share purchase warrants at
For Further Information, Please Contact:
Michael Swistun, CFA
President & CEO
Canadian Gold Corp.
(204) 232-1373
info@canadiangoldcorp.com
Social Media Accounts:
About Canadian Gold Corp.
Canadian Gold Corp. is a mineral exploration and development company whose objective is to expand the high-grade gold resource at the past producing Tartan Mine, located in Flin Flon, Manitoba. The historic Tartan Mine currently has a 2017 indicated mineral resource estimate of 240,000 oz gold (1,180,000 tonnes at 6.32 g/t gold) and an inferred estimate of 37,000 oz gold (240,000 tonnes at 4.89 g/t gold). The Company also holds a
CAUTION REGARDING FORWARD-LOOKING INFORMATION
This news release of the Company contains statements that constitute "forward-looking statements." Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause Canadian Gold's actual results, performance or achievements, or developments in the industry to differ materially from the anticipated results, performance or achievements expressed or implied by such forward-looking statements.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/250886