Columbus Gold Announces $2.5 Million Private Placement With Sandstorm

On October 21, 2019, Columbus Gold Corporation announced a private placement (“Sandstorm Private Placement”) for gross proceeds of C$2.5 million with Sandstorm Gold Ltd (“Sandstorm Private Placement”). The Sandstorm Private Placement consists of two equal tranches for a total of 15,625,000 common shares of Columbus (the “Shares”) at a price of $0.16 per Share. After giving effect to the Sandstorm Private Placement, Sandstorm will hold approximately 8% of the outstanding common shares of Columbus. This significant investment from Sandstorm is a strong endorsement of Columbus’ strategy in French Guiana. Fasken played a key role in this transaction as it involved drafting and negotiating investment and royalty agreements between the parties. Fasken’s expertise in mining was also key as the mandate required an understanding of the mining legal framework in French Guiana and a clear knowledge of Columbus’ contractual obligations under existing option / joint venture agreements. A Fasken team led by Frank Mariage and including Nancy Eastman advised Columbus Gold Corporation regarding this transaction.