Corazon Gold Corp.

Corazon Gold Corp.

August 26, 2016 15:06 ET

Corazon Arranges Non-Brokered Private Placement of Up to $1,000,000

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Aug. 26, 2016) - Corazon Gold Corp. (TSX VENTURE:CGW) ("Corazon" or the "Company") is pleased to announce that it has arranged a non-brokered, non flow-through private placement (the "Financing") of up to 5,000,000 units (each, a "Unit") at a price of $0.20, for total proceeds of $1,000,000. Each Unit will consist of one common share (each, a "Share") and one-half of one warrant (each, a "Warrant"), with each whole Warrant entitling the holder thereof to purchase one additional Share at an exercise price of $0.40 per Share for a period of two years from the closing. The Warrants will have an acceleration clause whereby if the Shares of the Company trade above $0.60 for 10 consecutive days, then the warrant holder shall have 30 days to exercise their Warrant or it will expire.

The proceeds of the Financing will be used for general and administration expenses as well as working capital to identify a project for the Company. A finder's fee may be payable on portions of the Financing.

The Financing is subject to the approval of the TSX Venture Exchange.

On behalf of Corazon Gold Corp.

Victor Goncalves, President and CEO

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

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