Gold Standard Establishes ATM Equity Program

VANCOUVER, British Columbia, Aug. 14, 2020 (GLOBE NEWSWIRE) -- Gold Standard Ventures Corp. (TSX: GSV; NYSE AMERICAN: GSV) (“Gold Standard” or the “Company”) today announced that it has entered into an at-the-market Equity Distribution Agreement (the “Equity Distribution Agreement”) with BMO Capital Markets (“BMO”), to establish an at-the-market equity program (the “ATM Program”). The Company intends to issue up to CDN$25,000,000 of common shares (“Common Shares”) under the ATM Program. The Common Shares will be issued from treasury to the public from time to time, at the Company’s discretion. Any Common Shares sold under the ATM Program will be sold at the prevailing market price at the time of sale, when sold through the NYSE American LLC (“NYSE American”) or any other existing trading market for the Common Shares in the United States. Sales under the ATM Program will be commenced at the Company’s discretion, and the net proceeds of any sales of Common Shares under the ATM Program will be used to fund the work program on the Company’s Railroad-Pinion Project recommended in the technical report with an effective date of February 13, 2020, entitled “South Railroad Project NI 43-101 Technical Report, Updated Preliminary Feasibility Study, Carlin Trend, Nevada, USA”, prepared by M3 Engineering & Technology Corporation, and for general corporate purposes.

Under the Equity Distribution Agreement, sales of Common Shares will be made through “at-the-market distributions” as defined in National Instrument 44-102 – Shelf Distributions on the NYSE American or on any other existing trading market for the Common Shares in the United States. No Common Shares will be offered or sold in Canada under the ATM Program. The Company is not obligated to make any sales of Common Shares under the Equity Distribution Agreement. The offering of Common Shares pursuant to the Equity Distribution Agreement will terminate upon the earlier of (a) the sale of all of the Common Shares subject to the Equity Distribution Agreement, (b) the termination of the Equity Distribution Agreement by BMO, or the Company, as permitted therein, or (c) September 7, 2020. The Company will pay BMO a commission rate of up to 2.0% of the aggregate gross proceeds from each sale of Common Shares and has agreed to provide BMO with customary indemnification and contribution rights. The Company will also reimburse BMO for certain specified expenses in connection with entering into the Equity Distribution Agreement.