|Bid||0.5700 x N/A|
|Ask||1.0000 x N/A|
|Day's Range||0.7000 - 0.7000|
|52 Week Range||0.7000 - 6.8000|
|Beta (5Y Monthly)||-0.07|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
TORONTO, Feb. 04, 2021 (GLOBE NEWSWIRE) -- Canadian GoldCamps Corp. (formerly, Supreme Metals Corp.) (“Canadian GoldCamps”, or the “Company”) (CSE: CAMP) (FSE: A68) is pleased to announce that all matters submitted to the shareholders for approval as set forth in the Company’s Notice of Meeting and Information Circular, both dated January 5, 2021, were approved unanimously with 100% of the votes cast in favour of all matters put forth at the Company’s Annual General and Special Meeting (the “Meeting”) held on Friday, January 29, 2021. Pursuant to the previously announced asset purchase agreement dated January 4, 2021 (the “Agreement”, see press release dated January 6, 2021) Canadian GoldCamps will sell to MegumaGold Corp. (“MegumaGold”) all of its Canadian assets and the associated working capital in exchange for securities of MegumaGold (the “Transaction”), that it intends to distribute directly to its shareholders. The Transaction sees substantially all of Canadian GoldCamp’s assets transferred to MegumaGold. The closing of the Transaction remains subject to the completion of all applicable documentation to affect the transfer of the Canadian assets to MegumaGold. Upon completion of the Transaction, the Company will focus on its interest in South America. The sale price for the Company's Canadian assets will be comprised of 1.1 shares of MegumaGold for each one (1) issued and outstanding share of Canadian GoldCamp as of November 16, 2020 (the “Exchange Ratio”). In addition, all outstanding options and warrants of Canadian GoldCamps that have not been duly exercised prior to the closing of the Transaction (the “Closing Date”) will be exchanged for options and warrants, as the case may be, of MegumaGold, after giving effect to the Exchange Ratio and otherwise on the same terms and conditions as were applicable to such options and warrants immediately before the Closing Date. Securities which are distributed to Canadian GoldCamps’ shareholders will be subject to a total of a four-month and one-day hold period from the date of closing of the transaction. The Company also advises that Ms. Vicki Rosenthal resigned in advance of the Meeting; the Company wishes to thank Ms. Rosenthal for her contributions to the Company and wishes her well with her other endeavours. Canadian GoldCamps interim CEO Brendan Purdy commented: “The synergies between the MegumaGold and the GoldCamps assets creates a unique situation for investors through a consolidated Atlantic Canadian portfolio with real exposure to three growing gold districts in Nova Scotia, New Brunswick and Newfoundland. All three of the jurisdictions have recently seen major discoveries and development work which has lead to a rejuvenation of gold mining and exploration on the east coast of Canada. The combined assets compliment one another in building the critical mass necessary for accretive entry into emerging gold camps across eastern Canada.” About Canadian GoldCamps Corp.Canadian GoldCamps is a Canadian based exploration company focused on acquiring prospective properties and making new gold discoveries in established gold camps in Canada, focusing on Ontario and Quebec. With a long history of mining, excellent infrastructure and a rich geological environment, the superior geologic province in Ontario and Quebec is one of the best places globally for discovering world-class deposits. For further information, please contact: Canadian GoldCamps Brendan Purdy, Interim CEOTel: 604-687-2038 Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release may contain forward-looking statements based on assumptions and judgments of management regarding future events or results. Such statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ materially from those reflected in the forward-looking statements. There is no assurance the private placement, property option, change of board or reinstatement of trading referred to above will close on the terms as stated, or at all. The Company disclaims any intention or obligation to revise or update such statements.
TORONTO, Dec. 09, 2020 (GLOBE NEWSWIRE) -- Canadian GoldCamps Corp. (formerly, Supreme Metals Corp.) (“Canadian GoldCamps”, or the “Company”) (CSE: CAMP) (FSE: A68) is pleased to announce that it has entered into an agreement to appoint Micon International Limited (“Micon”) to prepare and update the mineral resource estimate and technical report (“Technical Report”) for the Company’s Elm Tree Project located in New Brunswick. Micon will act as an independent Qualified Person and will prepare the Technical Report in accordance with the requirements of the Canadian National Instrument 43-101 (NI 43-101). Elm Tree Project highlights include: * Total property package covering approximately 7,000 acres. * 2010 Micon Preliminary Economic Assessment1 indicating robust IRR at $1,100/oz gold. The Company intends to update this PEA for the historic "Elmtree project". * The current property sits on the majority (265,000 oz) of the NI 43-1011 compliant 294,000 ounces of gold from the historic Elmtree project, which is near surface and includes a higher grade 5 g/t envelope. * Deposit remains open in all directions – a complete digital database of property drill, geochemical, and geophysical data will allow the Company to quickly identify new targets, expand the known zones of mineralization and restart exploration. * 176 drill holes in the property district, 69 completed during 1985-87 and the remaining during 2005-10. * Substantial additional prospective land position acquired in area. * Amenable to open pit mining. * Metallurgical studies completed by SGS and RPC indicate 98% gold recovery on the higher- grade western gabbro zone (WGZ). * Skilled labour force including regional DNR office. * Mining friendly location near City of Bathurst and airport 30 km southeast, paved road access to project, highway and power adjacent to the property.Qualified Persons ReviewThe technical and scientific information contained within this news release has been reviewed and approved by Bob Komarechka, P.Geo., a director of Canadian GoldCamps Corp. and Qualified Person as defined by National Instrument 43-101 policy.References: 1. Murahwi, C., Martin, A. and Godard, M., 2011: Technical Report NI 43-101 on the Mineral Resource Estimate for the Elmtree Gold Property, Gloucester County, New Brunswick Canada, pages 56, 61-62 and 65. 2. Shoemaker, S., Jacobs, C., Cullen, M., 2010: Technical report on Preliminary Assessment of the Elmtree Gold Property, Gloucester County, New Brunswick, Canada. About Canadian GoldCamps Corp.Canadian GoldCamps is a Canadian based exploration company focused on acquiring prospective properties and making new gold discoveries in established gold camps in Canada, focusing on Ontario and Quebec. With a long history of mining, excellent infrastructure and a rich geological environment, the superior geologic province in Ontario and Quebec is one of the best places globally for discovering world-class deposits.For further information, please contact:Canadian GoldCamps Brendan Purdy, Interim CEO Tel: 604-687-2038Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.This news release may contain forward-looking statements based on assumptions and judgments of management regarding future events or results. Such statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ materially from those reflected in the forward-looking statements. There is no assurance the private placement, property option, change of board or reinstatement of trading referred to above will close on the terms as stated, or at all. The Company disclaims any intention or obligation to revise or update such statements.
HALIFAX, Nova Scotia and VANCOUVER, British Columbia, Nov. 12, 2020 (GLOBE NEWSWIRE) -- MegumaGold Corp. (CSE: NSAU, OTC: NSAUF, FWB: 2CM2) (“MegumaGold”) and Canadian GoldCamps Corp. (CSE: CAMP, OTC: SMATF, FSE: A68) (“Canadian GoldCamps”) are pleased to announce that they have entered into an arm’s length agreement dated November 12, 2020 (the “Agreement”) with respect to a contemplated business combination by way of a proposed share exchange between MegumaGold and Canadian GoldCamps to which MegumaGold would acquire 100 per cent of the issued and outstanding shares of Canadian GoldCamps (the “Transaction”). The parties shall jointly prepare an information circular (setting forth inter alia the recommendations of their respective boards of directors for the proposed Transaction) as soon as reasonably feasible. Each party will file a Notice of Meeting and Record Date on SEDAR in due course. The proposed Transaction would provide shareholders of both companies with: * A complementary district consolidation of Canadian GoldCamps properties in New Brunswick’s Bathurst Mining Camp, Newfoundland’s Central Gold Belt, and MegumaGold’s extensive exploration land position in Nova Scotia’s Meguma Gold District; * Combined goal of defining additional gold resources across Nova Scotia and New Brunswick in 2021; * Strengthened balance sheet and enhanced ability to raise capital to advance exploration; * Strengthened management and leadership team through complimentary skillsets; * A critical mass to support further accretive entry into dominant positions in Gold Camps across Canada. Canadian GoldCamps is engaged in the acquisition, exploration and development of natural resource assets with a focus on precious metal properties which have potential for both significant exploration upside and are prospective for future development. Canadian GoldCamps this year expanded its strategic focus toward precious metals and further affirmed its forward-looking plan to build a diversified portfolio of exploration properties in historical gold-producing areas of Canada.MegumaGold has assembled a strategically positioned, district-scale claim tenure comprised of 110,791 hectares within the Meguma Gold District in Nova Scotia. MegumaGold’s current focus is preparing drilling campaigns for its Caribou, Killag, and Touquoy West Properties while continuing to develop its regional targets throughout the district. At Touquoy West, located 4 km to the west of St Barbara’s Touquoy mine, combined soil geochemistry results and Induced Polarization (IP) survey results have identified three main anomalies on strike with the Touquoy mine that have never been drill tested. At Killag, MegumaGold’s initial Reverse Circulation (RC) drilling program has identified anomalous gold results over a strike length of 1 km open to the east and west, approximately 20 km to the east of St Barbara’s Touquoy mine. In September of 2020 MegumaGold completed an amalgamation with Osprey Gold acquiring the Goldenville deposit (see MegumaGold press release dated September 14, 2020).Canadian GoldCamps has assembled approximately 4,150 hectares of prospective gold properties in New Brunswick, near the historic Bathurst mining district, and in Newfoundland’s Central Newfoundland Gold Belt, a region that has recently shown significant gold exploration success. In New Brunswick, Canadian GoldCamps properties encompass the majority of the Elmtree Gold Project (“Elmtree”), which contains a historical resource estimate and will require additional exploration and drilling to enhance its gold-bearing potential. A Mineral Resource Estimate is currently planned for the Elmtree Project that will incorporate the results from an upcoming drilling program and the latest industry gold price forecasts. In Newfoundland, Canadian GoldCamps’ seven claims are proximal to the northeast trending Dog Bay Suture and the parallel Appleton and JPB Faults, which have been identified as hosting significant gold-bearing potential.Theo Van der Linde, President of MegumaGold stated, “We’re incredibly pleased to be working with the GoldCamps team in building a premier gold exploration and development company with assets in emerging gold districts throughout Atlantic Canada. With this merger Meguma shareholders will benefit by not only be acquiring high quality assets with growth potential, but also direct access to invaluable guidance from well regarded Board members.”David Garofalo, Director of Canadian GoldCamps commented, “Today’s announcement is yet another positive step towards fulfilling our vision of creating a premier, Canadian-based precious metals focused exploration and development company. The advanced stage of our assets in New Brunswick, along with the early, albeit exciting potential of the properties in Newfoundland, are a great regional and strategic fit to MegumaGold’s extensive land position in the under explored Meguma Gold District. I would like to thank our CEO, Alex Terentiew, for advancing Canadian GoldCamps towards this merger and helping create a new exploration company that shareholders can be excited about. We wish him well in his next endeavour.”Alex Terentiew, President and CEO of Canadian GoldCamps stated, “2020 has been a very busy and exciting year for the Company, and for the gold mining industry at large, and I am delighted to have had the privilege to lead Canadian GoldCamps through its growth thus far. With the combined portfolio of assets based in the Atlantic Provinces, and taking into account travel restrictions during this global COVID-19 pandemic, however, this merger presents an opportunity for all shareholders to benefit from the experience and relationships MegumaGold’s existing management team has fostered in the region over the past few years. I am confident that MegumaGold’s CEO, Regan Isenor, who is based in Halifax and has both regional and international experience, is well suited to lead the company forward. I wish the Company great success in the years ahead.”Details of the Proposed TransactionMegumaGold will acquire all of the issued and outstanding shares of Canadian GoldCamps. Each shareholder of Canadian GoldCamps (each, a “GoldCamps Shareholder”) will receive such number of common shares of MegumaGold (the “Meguma Shares”) as is equal to the product of the number of common shares of Canadian GoldCamps (the “GoldCamps Shares”) held by such shareholder at an exchange ratio which equals one and one-tenth (1.1) Meguma Shares per one (1) GoldCamps Share outstanding at the closing of the Transaction.The definitive agreement will provide that unexercised incentive stock options and share purchase warrants of Canadian GoldCamps will be assumed by MegumaGold and will: (i) remain outstanding for their full term, and (ii) following the closing date of the Transaction, entitle the holder thereof to acquire Meguma Shares in lieu of GoldCamps Shares, in such number and at such exercise price as shall be adjusted based on the exchange ratio inherent in the Transaction, and otherwise on the same terms and conditions as existed prior to the Transaction.Canadian GoldCamps will have the right to appoint three (3) members to the board of directors of the resulting issuer, with the total number of members of such board of directors to be initially set at four (4). MegumaGold shall contribute management personnel to the resulting issuer.MegumaGold currently has 136,318,288 outstanding common shares and 34,466,433 shares reserved for issuance under incentive stock options and share purchase warrants. As of today’s date, it is anticipated an aggregate of 82,966,803 Meguma Shares are anticipated to be issued to the GoldCamps Shareholders, along with options and warrants entitling GoldCamps Shareholders to acquire a further 30,903,501 Meguma Shares.Based on the foregoing and assuming no outstanding options or warrants of Canadian GoldCamps are exercised prior to closing and giving effect to any concurrent financing, the resulting issuer from the Transaction will have 219,285,092 shares issued and outstanding, of which former GoldCamps Shareholders will hold approximately 38% of the issued and outstanding common shares of the resulting issuer (40% of the common shares of the resulting issuer on a fully diluted basis).The Transaction is subject to a number of conditions, including due diligence by each party, completion of definitive documentation, approval by Boards of Directors of each party, obtaining any necessary shareholder approvals (including any minority approval required by Multilateral Instrument 61-101, if applicable, obtaining all governmental, regulatory, Canadian Securities Exchange (the “CSE”), and other third-party approvals which are necessary in order to allow the parties to complete the Transaction. The precise form of the Transaction will be determined following further advice and consultation with the parties’ respective legal and tax advisors. The Transaction cannot close until all of these conditions are met. There can be no assurance that the Transaction will be completed as proposed, or at all. A finder’s fee may be payable on the transaction.Qualified Person Statement This press release has been reviewed and approved by Regan Isenor, Chief Executive Officer of MegumaGold Corp. Bob Komarechka, P.Geo., Director of Canadian GoldCamps Corp and a “Qualified Persons” as defined under NI 43-101, has prepared and approved the scientific and technical information disclosed in this press release.About MegumaGold Corp. MegumaGold Corp. (CSE: NSAU, OTC: NSAUF, FWB: 2CM2) is a Canadian junior gold exploration company engaged in the business of acquiring, exploring and developing natural resource properties. MegumaGold has centered its exploration focus on the developing Meguma formation of Nova Scotia. As a result, MegumaGold has assembled a strategically positioned, district-scale tenure position of 110,791 hectares within the Meguma Gold District. For additional information, please visit MegumaGold’s website: http://www.MegumaGold.com.About Canadian GoldCamps Corp. Canadian GoldCamps Corp. (CSE: CAMP, OTC: SMATF, FSE: A68) is a Canadian-based gold exploration and development company established to provide investors with exposure to the best opportunities that the next generation of Canadian gold discoveries may present. Canadian GoldCamps is intent on being proximal to large new discoveries with a commanding position in these highly active gold camps, as well taking commanding positions in belts that possess all of the ingredients for the next major Canadian gold discovery. For additional information, please visit Canadian GoldCamp’s website: https://www.goldcamps.ca/.Upon closing of the Transaction, the resulting issuer is expected to be listed for trading on the CSE.For more information, please contact: Mr. Regan Isenor, Chief Executive Officer, MegumaGold Corp. 902-233-4381 firstname.lastname@example.org www.megumagold.comMr. Alex Terentiew, Chief Executive Officer, Canadian GoldCamps Corp. 647-640-241 email@example.com www.goldcamps.caForward-Looking Statements and Cautionary Language All statements in this presentation, other than statements of historical fact, are "forward-looking information" with respect to MegumaGold and Canadian GoldCamps within the meaning of applicable securities laws including, without limitation economic estimates and any statements related to the proposed transaction, proposed board and management changes and shareholder and exchange approvals. MegumaGold and Canadian GoldCamps provide forward-looking statements for the purpose of conveying information about current expectations and plans relating to the future and readers are cautioned that such statements may not be appropriate for other purposes. By its nature, this information is subject to inherent risks and uncertainties that may be general or specific and which give rise to the possibility that expectations, forecasts, predictions, projections or conclusions will not prove to be accurate, that assumptions may not be correct and that objectives, strategic goals and priorities will not be achieved. These risks and uncertainties include but are not limited to exploration findings, results and recommendations, results of due diligence investigations, ability to raise adequate financing, shareholder and exchange approvals in respect of the transaction and unprecedented market and economic risks associated with current unprecedented market and economic circumstances, as well as those risks and uncertainties identified and reported in MegumaGold’s and Canadian GoldCamps’ public filings under its respective SEDAR profile at www.sedar.com. Although MegumaGold and Canadian GoldCamps have attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. MegumaGold and Canadian GoldCamps disclaim any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise unless required by law.The CSE has not approved or disapproved the contents of this news release or passed upon the merits of any of the transactions described herein, including the Transaction.Neither the CSE nor its Regulation Services Providers (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.