- Compass Gold Corp. (TSXV: CVB) extends expiry date of 7,298,668 warrants to December 31, 2025.
- Warrants maintain exercise price of $0.30 per common share.
- Extension due to two-year suspension of Malian mining code affecting planned activities.
Compass Gold Corp. (TSXV: CVB) announced its intention to extend the expiry date for 7,298,668 common share purchase warrants from June 2, 2025, to December 31, 2025. The warrants, first issued on June 3, 2022, as part of a private placement, will retain an exercise price of $0.30 per common share.
The extension is attributed to the two-year suspension of the Malian mining code, which has led to significant delays in planned activities. CEO Larry Phillips stated that this measure aims to accommodate warrant holders given the external challenges faced during the original term.
Of the total warrants, 1,233,334 are held by insiders, constituting a related party transaction under Multilateral Instrument 61-101 (MI 61-101). The company is using exemptions from valuation and minority shareholder approval requirements, as the fair market value of these warrants does not exceed 25% of Compass Gold's market capitalization.
The extension is still awaiting final approval from the TSX Venture Exchange. Compass Gold continues to hold exploration permits in Mali as part of the Sikasso Property, managed by its experienced technical team, led by Dr. Madani Diallo and supervised by Dr. Sandy Archibald, P.Geo.
