Columbus Gold Corp. (CGT: TSX, CBGDF: OTCQX) is pleased to announce that it has closed its previously announced private placement (see news release dated January 14, 2019), raising gross proceeds of CAD$1,957,355.60 through the issuance of 9,786,778 units at a price of CAD$0.20 per unit. Each unit is comprised of one common share of Columbus, and a half warrant. Each full warrant entitles the holder, on exercise, to purchase one Share at a price of CAD$0.40, for a period of 12 months from the closing date of the private placement. An aggregate of 65,250 common shares of Columbus will be paid in Finders’ Fees, representing 0.67% of the gross proceeds raised.

The proceeds of the private placement will be used for general working capital purposes.

Nordgold subscribed to 4,606,778 units in the private placement to increase its interest in Columbus to 9.96% on a non-diluted basis, and 11.18% when taking into account the effect of the exercise of the Nordgold warrants.

The securities offered have not been, and will not be, registered under the U.S. Securities Act of 1933, as amended (the “U.S. Securities Act”) or any U.S. state securities laws, and may not be offered or sold in the United States or to, or for the account or benefit of, United States persons absent registration or any applicable exemption from the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws. This press release does not constitute an offer to sell or the solicitation of an offer to buy securities in the United States, nor in any other jurisdiction.

ABOUT COLUMBUS GOLD

Columbus is French Guiana’s leading gold exploration and development company.  Columbus holds a major interest in the world-class Montagne d’Or gold deposit.  A feasibility study for Montagne d’Or was filed in May 2017, and the permitting process is currently underway.  Columbus is also earning into the Maripa gold exploration project where past drilling has returned excellent near surface results, including 36 meters of 4.3 g/t gold.