|July 27, 2020|
Candente Gold announces proposed Warrants Extension
|Vancouver, British Columbia (July 27th, 2020) Candente Gold Corp. (TSXV:CDG) ("Candente Gold" and/or the "Company") advises that it has applied to the TSX Venture Exchange ("TSXV") for approval to extend the exercise period of a total of 5,000,000 outstanding share purchase warrants (the "Warrants") issued pursuant to the private placement completed on August 12, 2016. The amended expiry date was August 12th, 2020 and if the extension is approved, the new expiration date will be August 12th, 2021.
The exercise price of the Warrants will remain unchanged at $0.10 with the acceleration clause unchanged as follows: "Each full warrant will be exercisable for one additional share of the Company's common stock (a "Warrant Share") at a conversion price of $0.10, subject to an acceleration provision triggered if at any time the Company's common shares have a closing price on the TSX Venture Exchange at or above a price of Cdn $0.20 per share for a period of 10 consecutive trading days". The acceleration would be triggered by a news release that would give warrants holders 40 days to exercise.
The proposed Warrant extension remains subject to the TSXV approval.
About Candente Gold
The financial benefits from Western Mexico operations and the addition of specialized personnel will translate across platforms to strengthen our efforts to explore and potentially mine. The Company is currently evaluating properties that are complimentary to the SDA plant and El Dorado Property.
El Oro is a district scale gold project encompassing a well-known prolific high-grade gold dominant gold-silver epithermal vein system in Mexico. The project covers 20 veins with past production and more than 57 veins in total, from which approximately 6.4 million ounces of gold and 74 million ounces of silver were reported to have been produced from just two of these veins (Ref. Mexico Geological Service Bulletin No. 37, Mining of the El Oro and Tlapujahua Districts, 1920, T. Flores*)
Modern understanding of epithermal vein systems indicates that several of the El Oro district's veins hold excellent discovery potential, particularly below and adjacent to the historic workings of the San Rafael Vein, which was mined to an average depth of only 200 metres.
Joanne C. Freeze, P.Geo., President, CEO and Director and Matthew Melnyk, CPG., Director Operations are Qualified Persons as defined by National Instrument 43-101 for the projects discussed above. Ms. Freeze and Mr. Melnyk have reviewed and approved the contents of this release.
Neither TSX Venture Exchange nor its Regulation Services Provider accepts responsibility for the adequacy or accuracy of this release.
On behalf of the Board of Candente Gold Corp.
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