Compass Gold Announces Private Placement of Units for Gross Proceeds of Up To $5 Million

Core Viewpoint - Compass Gold Corporation has announced a private placement offering to raise between approximately $4 million and $5 million through the sale of units priced at $0.19 each [1][3]. Group 1: Offering Details - The offering consists of a minimum of 21,052,630 and a maximum of 26,315,800 units, each unit comprising one common share and one common share purchase warrant [1][2]. - Each warrant allows the holder to purchase one common share at a price of C$0.25 within three years following the closing date [2]. - The offering is expected to close around February 12, 2026, subject to regulatory approvals and the execution of a definitive agency agreement [5]. Group 2: Use of Proceeds - Net proceeds from the offering will be allocated for the evaluation and establishment of a gold processing facility at the Massala prospect, drilling, completion of a metallurgical study, bulk sampling, and general corporate purposes [3]. Group 3: Additional Offering Options - The company has granted the agent an option to sell up to an additional 3,947,370 units at the same offering price, potentially raising an additional gross amount of approximately $750,000 [4]. Group 4: Regulatory Compliance - The units will be offered in compliance with National Instrument 45-106, allowing for sales to purchasers in Canada and other jurisdictions without a hold period under applicable Canadian securities laws [6]. Group 5: Company Background - Compass Gold is a public company incorporated in Ontario, holding gold exploration permits in Mali, with a total land holding of 900 square kilometers [9]. - The company's exploration activities are focused on the Sikasso Property, located in a region with several multi-million-ounce gold projects [9].