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Compass Gold Corporation Announces Amendment to Terms of Private Placement and Resumption of Trading

VANCOUVER, BRITISH COLUMBIA and SYDNEY, AUSTRALIA -- (Marketwired) -- 11/14/17 -- Further to the news release dated August 23, 2017, Compass Gold Corp. (NEX: CVB.H) (Compass or the Company) announces an amendment to the terms of the Private Placement and the resumption of trading in the Company's shares, as set out below.

The Company announces a variation to the terms of the previously announced Private Placement such that the Company will now issue units in the Company rather than common shares. Each Unit will comprise of one common share of the Company and one transferable common share purchase warrant. Each warrant entitles the holder to purchase one additional common share of the Company at a price of $0.75 per share and will have an expiry date that is three years from the date of issue. The remaining terms and conditions of the Private Placement remain unchanged.

The Company is also pleased to announce that it has satisfied all requirements of the TSX Venture Exchange (TSXV or the Exchange) to resume trading. The Company's common shares will resume trading on the Exchange at opening on Wednesday, November 15, 2017.

Trading in the common shares of the Company was halted in connection with the entering into of a binding share exchange agreement (the Agreement) dated August 23, 2017 between Mali Gold Exploration Pty Ltd (MGE) and the Company, pursuant to which Compass will acquire all of the issued and outstanding shares of MGE in exchange for the issuance of post-consolidation shares of Compass to the shareholders of MGE. The acquisition of MGE (the Acquisition) constitutes a Reactivation and a Reverse Takeover of Compass as such terms are defined in the policies of the Exchange.

Compass is required to obtain shareholder approval for the Acquisition. The Company will hold an annual and special meeting of shareholders on Thursday, November 16, 2017 to approve the Acquisition and related matters.

About Compass

Compass is a public company organized under the laws of British Columbia. Compass is currently listed on the NEX board of the Exchange.

ON BEHALF OF THE BOARD OF COMPASS GOLD CORP.

Lara Iacusso, Director

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contacts:
Compass Gold Corporation
James Henderson
+61 2 8823 3100 or +61 403 603 377
Jamie@transoceangroup.com
www.compassgoldcorp.com

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Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

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