Canagold Resources Ltd. (TSX: CCM, OTC-QB: CRCUF, Frankfurt: CANA) (the “Company” or “Canagold”), wishes to confirm that to ensure the Company remains well funded for the duration of its upcoming feasibility study, permitting and drilling at the New Polaris project, additional financing plans are under consideration.
Canagold is currently evaluating various financing options to secure additional sources of capital, including private placement, a rights offering and additional flow-through financing.
The additional financing plans would be undertaken following the conclusion of the $1.5M Charity FT financing announced by the Company on September 1, 2022.
Furthermore, it is anticipated that Sun Valley, or an affiliate thereof, will participate in Canagold’s future financing plans. Any future Sun Valley or affiliation participation will be consistent with, and subject to, the requirements and policies of the TSX.
About Canagold Resources Ltd.
Canagold Resources Ltd. is a growth-focused gold exploration company with projects located in British Columbia, Canada. The Company is dedicated to advancing its high-quality gold projects to deliver value to shareholders and stakeholders while adhering to the highest standards of environmental and social responsibility.
For further information about the New Polaris Project and Canagold Resources Ltd, please visit Canagold’s website at https://www.canagoldresources.com or contact:
“Catalin Kilofliski”
____________________
Catalin Kilofliski, Chief Executive Officer
CANAGOLD RESOURCES LTD.
Catalin@canagoldresources.com, 604-685-9700
Cautionary Note Regarding Forward-Looking Statements
This news release contains “forward-looking statements” within the meaning of the United States private securities litigation reform act of 1995 and “forward-looking information” within the meaning of applicable Canadian securities legislation. Statements contained in this news release that are not historical facts are forward-looking information that involves known and unknown risks and uncertainties. Forward-looking statements in this news release include, but are not limited to, statements with respect to the future performance of Canagold, and the Company’s plans and exploration programs for its mineral properties, including the timing of such plans and programs. In certain cases, forward-looking statements can be identified by the use of words such as “plans”, “has proven”, “expects” or “does not expect”, “is expected”, “potential”, “appears”, “budget”, “scheduled”, “estimates”, “forecasts”, “at least”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “should”, “might” or “will be taken”, “occur” or “be achieved”.
Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Such risks and other factors include, among others risks related to the uncertainties inherent in the estimation of mineral resources; commodity prices; changes in general economic conditions; market sentiment; currency exchange rates; the Company’s ability to continue as a going concern; the Company’s ability to raise funds through equity financings; risks inherent in mineral exploration; risks related to operations in foreign countries; future prices of metals; failure of equipment or processes to operate as anticipated; accidents, labor disputes and other risks of the mining industry; delays in obtaining governmental approvals; government regulation of mining operations; environmental risks; title disputes or claims; limitations on insurance coverage and the timing and possible outcome of litigation. Although the Company has attempted to identify important factors that could affect the Company and may cause actual actions, events or results to differ materially from those described in forward-looking statements, 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 forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, do not place undue reliance on forward-looking statements. All statements are made as of the date of this news release and the Company is under no obligation to update or alter any forward-looking statements except as required under applicable securities laws.