24 January 2023Cornerstone Acquisition Update The Board of Directors of SolGold (LSE & TSX: SOLG) wishes to provide an update on the progress of the previously announced proposed acquisition (the “Acquisition”) of all of the issued and outstanding shares of Cornerstone Capital Resources Inc. (TSXV:CGP; OTC:CTNXF; FWB:GWN1) (“Cornerstone”). other than Cornerstone Shares already held, directly or indirectly, by SolGold, pursuant to a court-approved plan of arrangement (the “Arrangement”).

Following Cornerstone’s shareholder approval and granting of the Final Order by the Court of King's Bench of Alberta on 9^th and 10^th January, respectively, approving the Arrangement, the Company expects to publish the prospectus shortly and complete the Acquisition soon thereafter with the issue of SolGold shares to Cornerstone Shareholders.

SolGold also advises that, at its discretion, the Company has elected not to pay any cash consideration. As such, consideration under the Arrangement will be paid entirely using SolGold shares with Cornerstone Shareholders receiving 15 SolGold shares for each Cornerstone share.

This announcement was approved for release by Rufus Gandhi - Company Secretary.Our mailing address is:
[email protected]