Candente Gold advises that the previously announced Private Placement is Fully Subscribed

VANCOUVER, British Columbia, Nov. 12, 2020 (GLOBE NEWSWIRE) -- Candente Gold Corp. (TSXV:CDG) ("Candente Gold” and/or the “Company”) is pleased to advise that the previously announced (Nov 5^th, 2020) non-brokered private placement (the “Private Placement”) of 4,000,000 common shares (“Shares”) at a price of $0.05 per Share for a total of $200,000 has been fully subscribed.

Joanne Freeze, President and CEO, a control person of Candente Gold Corp., has subscribed for 53.75% of the Private Placement. In addition to Ms. Freeze there are three other subscribers. Closing of the Private Placement is expected to be completed within one week.  

The Company intends to use the net proceeds of the Private Placement to advance development of its near term gold production and near surface exploration opportunities while advancing drill targets on the El Oro project, its flagship asset, and for general working capital purposes. The Shares issued pursuant to the Private Placement will be subject to a four month hold period from the date of closing. Finder fees of approximately $2,450 will be paid. No warrants will be issued as part of this private placement.

The Private Placement remains subject to all necessary regulatory approvals, including the approval of the TSXV.

This press release will not constitute an offer to sell or the solicitation of an offer to buy nor will there be any sale of the securities in any state in which such offer, solicitation, or sale would be unlawful. The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the United States Securities Act of 1933, as amended, and applicable state securities laws.

About Candente Gold

Candente Gold has launched a comprehensive growth strategy to build a cash flowing business platform and gain access to properties with near surface exploration potential while maintaining El Oro as its flagship asset and an integral part of the overall growth strategy. The acquisition of the SDA Plant, the El Dorado historic mines and the Cocula Project signify important initial steps.

The financial benefits from Western Mexico operations and the addition of specialized personnel will translate across platforms to strengthen the Company’s efforts to explore and potentially mine areas demonstrated to contain mineralization of value. The Company is currently evaluating other properties that are complimentary to the SDA plant, El Dorado and the Cocula Project.