VANCOUVER, British Columbia, Dec. 20, 2017 (GLOBE NEWSWIRE) -- Columbus Gold Corp. (“Columbus”) (CGT:TSX) (CBGDF:OTCQX) is pleased to announce that is has obtained conditional approval from the TSX for the Allegiant Gold Ltd. (“ALLEGIANT”) spin-out Arrangement. This was one of the last two steps required to set the Share Distribution Record Date and to complete the spin-out of ALLEGIANT to Columbus shareholders. The last remaining step is to obtain conditional approval from the TSX Venture Exchange to list ALLEGIANT, which is currently being sought.
Only shareholders of record as at the Share Distribution Record Date will be entitled to receive shares of ALLEGIANT in the spin-out. Shareholders of record on that date will receive 1 (one) share of ALLEGIANT, for every 5 (five) shares they own of Columbus. Shareholders who sell their Columbus shares prior to the Share Distribution Record Date will not be entitled to receive shares of ALLEGIANT.
About Columbus Gold
Columbus is a leading gold exploration and development company operating in French Guiana, France, and in Nevada. Columbus holds a major interest in the world-class Montagne d'Or gold deposit in French Guiana. A Feasibility Study for Montagne d'Or was filed in May 2017 and the permitting process is currently underway. In Nevada, Columbus is advancing its flagship projects, the Eastside gold project and the Bolo gold project. Drilling is underway at Eastside and drill samples from Bolo have been shipped to the assay lab.
