MegumaGold Completes Acquisition of Osprey Gold, Creating a Premier Canadian Gold Exploration and Development Company - Seite 2

MegumaGold now has an aggregate of 142,318,288 common shares issued and outstanding, warrants to acquire an aggregate of 22,713,934 common shares, and stock options to acquire an aggregate of 11,732,500 common shares.  A finder’s fee of 2,566,982 common shares will be paid to an arms-length third party in connection with the transaction.

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/96db2373-1c01-423c ...

Management

In connection with the closing of the Arrangement, the Company increased the size of its board of directors to four, and appointed former Osprey directors Cooper Quinn and Jeffrey Wilson to join incumbent directors, Theo van der Linde and Fred Tejada. Mr. Steven Stine has resigned from the board of directors effective immediately. Theo van der Linde commented, “Steven has made significant contributions in the advancement of the company to its current stage and for this we thank him and wish him all the best in the future.”

Delisting of Osprey shares
It is expected that the Osprey Shares will be de-listed from the TSX Venture Exchange effective September 15, 2020 and that Osprey will apply to cease to be a reporting issuer under applicable Canadian securities laws.

Qualified Person Statement
This press release has been reviewed and approved by Regan Isenor, Chief Executive Officer of MegumaGold Corp. Paul Ténière, M.Sc., P.Geo. of Mercator Geological Services Limited, a “Qualified Person” 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) is a Canadian junior gold exploration company engaged in the business of acquiring, exploring and developing natural resource properties. The Company has centered its exploration focus on the Meguma Formation in Nova Scotia. As a result, the Company has assembled a strategically positioned, district-scale land package which includes 6 historically producing gold properties and covers of 110,791 hectares within the Meguma Gold District. For additional information, please visit the Company’s website: http://www.MegumaGold.com.