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MONTREAL, Dec. 4, 2024
/CNW/ - CANADIAN
GOLD RESOURCES LTD. ("formerly Amseco Exploration Ltd.")
(TSXV: CAN) (the "Company"), announces that
due to the ongoing Canada Post workers' strike and the resulting
mail service disruptions, it has been unable to send share
certificates, DRS statements, and the letter of transmittal to its
registered shareholders following the completion of its previously
announced share acquisition with 14697952 Canada Inc. (formerly
Canadian Gold Resources Ltd.) (the "Transaction").
The Company is committed to ensuring that shareholders receive
these documents as soon as possible. Once normal mail service
resumes, the Company will promptly arrange for the mailing of the
share certificates, DRS statements, and letter of transmittal to
all registered shareholders. For convenience, a copy of the letter
of transmittal has been made available under the Company's profile
on SEDAR+ at www.sedarplus.ca. A copy of the letter of transmittal
is also available upon request, at no cost, by contacting the
Company (Ronald Goguen, Director and
CEO at rongoguen@cdngold.com, 1-506-383-4274).
The Company also announces that, on November 18, 2024, the day of closing of its
previously announced concurrent private placement, one insider of
the Company, a director and officer of the Issuer (the
"Insider"), purchased 40,000 flow-through units (the "FT
Units") for a total consideration of $12,000. The issuance of FT Units to the Insider
constitutes a related party transaction, but is exempt from the
formal valuation and minority approval requirements of Multilateral
Instrument 61-101 – Protection of Minority Security Holders in
Special Transactions ("MI 61-101") as the Company's
securities are not listed on any stock exchange identified in
Section 5.5(b) of MI 61-101 and the fair market value of the FT
Units issued to the Insider does not exceed 25% of the Company's
market capitalization.
The Company did not file a material change report with respect
to the participation of the Insider at least 21 days prior to the
closing of the private placement as the Insider's participation was
not determined at that time.
About Canadian Gold Resources Ltd.
Canadian Gold Resources Ltd. is the owner of the Lac Arsenault Property, the VG Boulder
Property, and the Robidoux Property, each located in
Gaspé, Québec.
For further information regarding Canadian
Gold Resources Ltd. and the Transaction, please
contact Ronald Goguen, Chief Executive Officer of
Canadian Gold Resources Ltd., at rongoguen@cdngold.com.
ON BEHALF
OF THE BOARD OF DIRECTORS OF CANADIAN GOLD RESOURCES LTD.
SOURCE Canadian Gold Resources Ltd.
