August 18, 2016 09:00 ET
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Aug. 18, 2016) -
NOT FOR DISSEMINATION IN THE UNITED STATES OR TO UNITED STATES NEWSWIRE SERVICES
Columbus Gold Corp. (TSX:CGT)(OTCQX:CBGDF) ("Columbus") is pleased to report that on August 17, 2016 it sold to institutional investors for net proceeds of $1,338,000, the 2,230,000 common shares of Columbus it acquired pursuant to a lawsuit settlement agreement with a former shareholder of the company.
The sale of the common shares is considered a redistribution of securities by Columbus under applicable securities laws, therefore the shares are subject to a four-month hold period expiring on December 18, 2016. This transaction is subject to the final approval of the Toronto Stock Exchange.
ON BEHALF OF THE BOARD,
Robert F. Giustra, Chairman & CEO
Investor Relations(604) 634-0970 firstname.lastname@example.org
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