Megumagold completes purchase of Cdn Goldcamps assets

Mar 30, 2021

2021-03-30 16:18 ET – News Release

Also News Release (C-CAMP) Canadian Goldcamps Corp

Mr. Regan Isenor of Megumagold reports

MEGUMAGOLD CLOSES ACQUISITION OF CANADIAN GOLDCAMPS’ CANADIAN ASSETS

Megumagold Corp. has completed its purchase of Canadian Goldcamps Corp.’s Canadian assets, as previously announced on Jan. 6, 2021, and approved by Canadian Goldcamps shareholders on Jan. 29, 2021. Pursuant to an asset purchase agreement dated January 4, 2021 (the “Agreement”), Canadian Goldcamps sold to Megumagold all of its Canadian assets and a portion of its working capital associated with the Canadian assets, in exchange for an aggregate 82,966,803 common shares of Megumagold issued at a deemed price of $0.105 per share for a total purchase price of $8,711,514.30 (the “Consideration”).

In accordance with the terms of the Agreement, Megumagold issued 1.1 common shares in the capital of Megumagold for each one (1) issued and outstanding share of Canadian Goldcamps as of November 16, 2020 (the “Exchange Ratio”). In addition, all outstanding options and warrants of Canadian Goldcamps that have not been duly exercised prior to the Approval Date were exchanged for options and warrants, as the case may be, of Megumagold, after giving effect to the Exchange Ratio and otherwise on the same terms and conditions as were applicable to such options and warrants immediately before the Approval Date.

Canadian Goldcamps’ intends to distribute the Consideration received from Megumagold directly to its shareholders. All common shares of Megumagold which are distributed to Canadian Goldcamps’ shareholders are subject to a four-month and one-day hold period commencing from the Approval Date.

About Megumagold Corp.

Megumagold Corp. (CSE: NSAU, OTC: NSAUF, FWB: 2CM2) is a Canadian junior gold exploration company engaged in the business of acquiring, exploring and developing natural resource properties. Megumagold has centered its exploration focus on the developing Meguma formation of Nova Scotia. As a result, Megumagold has assembled a strategically positioned, district-scale tenure position of 110,791 hectares within the Meguma Gold District. For additional information, please visit Megumagold’s website: http://www.Megumagold.com.

About Canadian Goldcamps Corp.

Canadian Goldcamps Corp. (CSE: CAMP, OTC: SMATF, FSE: A68) is a Canadian-based junior exploration- stage company engaged in the evaluation, acquisition and exploration of lithium properties in Peru. For additional information, please visit Canadian GoldCamp’s website: https://www.goldcamps.ca/.

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