Canadian Gold Corp. Closes First Tranche of Financing

Group 1 - Canadian Gold Corp. announced the initial closing of its private placement offering, issuing 2,631,579 flow-through shares at a price of $0.19 per share, resulting in gross proceeds of $500,000 [1] - The company paid $12,000 in finders fees related to this first tranche closing, with all securities subject to a four-month hold period [1] - Proceeds from the flow-through shares will be allocated to the company's Canadian exploration projects, qualifying as Canadian Exploration Expenditures (CEE) [2] Group 2 - Canadian Gold Corp. is focused on expanding the high-grade gold resource at the historic Tartan Mine in Flin Flon, Manitoba, which has a 2017 indicated mineral resource estimate of 240,000 oz gold and an inferred estimate of 37,000 oz gold [3] - The company holds a 100% interest in exploration properties in Ontario and Quebec, adjacent to major gold mines and development projects, including Canadian Malartic Mine, Hemlo Mine, and Hammond Reef Project [3] - Robert McEwen, founder and CEO of Goldcorp, is a significant shareholder, owning 35% of Canadian Gold Corp. [3]