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Symbol : CGLD .V Core Gold Inc. is a Canadian based mining company involved in the exploration, development and production of gold and silver at 3 established projects in Ecuador. New exploration is planned for some of the other projects the company holds in Dynasty Copper-Gold Belt in southern Ecuador, including the Linderos Project and the Copper Duke Project. 6 million ounces of gold and 27 million ounces of silver in 43-101 compliant resources Company web site : coregoldinc.com Short videos of mining operations at Dynasty Goldfields and processing plant at Portovelo: coregoldinc.com Company Twitter account: twitter.com Corporate Presentation (August 2018) coregoldinc.com Dynasty Goldfields Project : Commenced mining operations at Dynasty Goldfields Project in early January 2017. Mining and transportation of ore is contracted out. Ore transported approximately 180 km by road to Portovelo processing facility. Production from a number of small open pits, Portovelo mill currently processing 750 - 800 tpd . News release of Contract Mining agreement : coregoldinc.com Resources: Measured: 2,909,000 tonnes grade, 4.7 gpt au, 38.1 gpt ag : 437,000 oz au, 3,567,000 oz ag Indicated: 3,958,000 tonnes grade, 4.6 gpt au, 38.3 gpt ag : 585,000 oz au, 4,936,000 oz ag Inferred: 7,825,000 tonnes grade, 4.4 gpt au, 38.5 gpt ag : 1,118,000 oz au, 9,901,000 oz ag Dynasty Goldfields Technical Report : coregoldinc.com (See pages 47 - 51 for table of grades and resources by vein) General location of Core Gold Projects in the Dynasty Gold-Copper Belt in Southern Ecuador  Linderos Project : Linderos Project Trenching Map coregoldinc.com Initial trench sample results for Linderos include : 21.00m at 18.51 g/t Au 19.95m at 14.31 g/t Au 18.20m at 14.74 g/t Au 17.00m at 13.70 g/t Au 18.00m at 10.10 g/t Au 2.00m at 326.8 g/t Au Copper Duke Project: coregoldinc.com  Zaruma Project :  Mill capable of processing 1,000 tpd in current configuration with potential to increase to 2,000 tpd with $3 million capital investment. Mill currently being fed with approx 750 tpd material from Dynasty Goldfields project.  No production at Cabo de Hornos mine at present. Plans for 200 tpd by Q4 2018 7.5 km of underground development down to 700 meters in depth. Measured Resource : 1,590,000 tonnes, grade 13.48 gpt au : 689,000 oz au Indicated Resource : 1,030,000 tonnes, grade 12.18 gpt au : 405,000 oz au Inferred Resource : 3,700,000 tonnes, grade 12.12 gpt au: 1,448,000 oz au Preliminary Economic Analysis for Zaruma Project: dynastymining.com Zaruma Project Resource chart : Veins Jerusalem Project : Located approximately 25km to the south of Lundin Gold's Fruta del Norte Project. No current activity on the Jerusalem Project . Measured resource : 379,000 tonnes grade 14.2 gpt au, 76.0 gpt ag : 173,000 oz au, 926,000 oz ag Indicated resource : 576,000 tonnes grade 13.5 gpt au, 81.0 gpt ag : 249,000 oz au, 1,495,000 oz ag Inferred resource : 1,775,000 tonnes grade 15.0 gpt au, 98.0 gpt ag : 856,000 oz au, 5,569,000 oz ag Jerusalem Project Technical report : dynastymining.com Share Structure as of September 18, 2018 Shares Issued and Outstanding: 137,620,664 Warrants Outstanding: 750,000 exercisable @ $0.33 expiry date Apr. 3, 2019 (Credipresto) 250,000 exercisable @ $0.35 expiry date Apr. 25, 2019 (Credipresto) 800,000 exercisable @ $0.365 expiry date Apr. 25, 2019 (Credipresto) 22,425,151 exercisable @ $0.45 varying expiry dates (See below) . **2,967,503 full warrants exercisable @ $0.45 expiry date June 30, 2019 (5,935,006 half warrants from 1st tranche of June 2017 financing) **1,642,833 full warrants exercisable @ $0.45 expiry date July 14, 2019 (3,285,666 half warrants from 2cd tranche of June 2017 financing) **811,457 full warrants exercisable @ $0.45 expiry date Aug 3, 2019 (1,622,914 half warrants from 1st tranche of July 27, 2017 financing) **1,277,543 full warrants exercisable @ $0.45 expiry date Sept 1 2019 ( 2,555,086 half warrants from 2cd tranche of July 27,2017 financing) **1,016,612 full warrants exercisable @ $0.45 expiry date Sept 15, 2019 (2,033,244 half warrants from 1st tranche of Sept.6, 2017 financing) **1,790,832 full warrants exercisable @ $0.45 expiry date Oct. 13, 2019 (3,581,664 half warrants from 2cd tranche of Sept.6, 2017 financing) **1,581,500 full warrants exercisable @ $0.45 expiry date Dec.18, 2019 (3,163,000 half warrants from 1st tranche of Dec. 1, 2017 financing) **2,066,666 full warrants exercisable @ $0.45 expiry date Dec 29, 2019 (4,133,333 half warrants from 2cd tranche of Dec 1, 2017 financing) **2,705,835 full warrants exercisable @ $0.45 expiry date Apr 2, 2020 (5,411,670 half warrants from 1st tranche of Feb 26 2018 financing) **2,254,970 full warrants exerciable @ $0.45 expiry date May 4, 2020 ( 4,509,941 half warrants from 2cd tranche of Feb 26, 2018 financing) **548,180 full warrants exercisable @ $0.45 expiry date May 29, 2020 (1,096,359 half warrants from 3rd tranche of Feb 26, 2018 financing) 3,761,220 full warrants exercisable @ $0.45 expiry date Feb 1, 2020 (7,522,440 half warrants from conversion of Vertex $1.5 million promissory note into shares) **subject to acceleration in the event that the closing price of the Common Shares is $0.60 or higher over a period of ten (10) consecutive trading days. Options : 10,436,000 623,000 @ $0.89 expiry date Jan 1 2019 35,000 @ $1.48 expiry Jun19 2019 25,000 @ $1.61 expiry July 28 2019 1,678,000 @ $0.92 expiry date Nov 21 2019 125,000 @ $0.79 expiry date Apr 8 2020 50,000 @ $0.36 expiry date Mar 14 2021 4,400,000 @ $0.23 expiry date Dec 7 2021 3,250,000 @ $0.30 expiry date Feb 27 2023 (25% vest immediately, 25% each 6 month period thereafter) 250,000 @ $0.31 expiry date May 15, 2023 (25% vest immediately, 25% each 6 month period thereafter) Promissory Notes : (Held by Vertex Managed Value Portfolio and Vertex Enhanced Income Fund) *** 1. Promissory notes in the aggregate principal amount of $1.5-million (U.S.) bearing interest at 12 per cent per annum and maturing on Sept. 15, 2018; *** 2. Freely assignable convertible promissory notes in the aggregate principal amount of $1-million (U.S.) bearing interest at 12 per cent per annum and maturing on Sept. 15, 2018, convertible into common shares of the company at 30 cents per share; (subject to a fixed foreign exchange rate of CAD$1.2895/US$1.00) or 4,298,333 shares 3. Core Gold executed a promissory note on Sept. 9, 2016, in which it agreed to pay US$476,413 upon demand, held by a numbered company, 0768274 B.C. Ltd. controlled by former CEO Robert Washer. ( Robert Washer also claims US$315,000 in fees owed to another of his companies, Minera Australiana ) *** (Vertex promissory notes maturity date extended to December 31 2018 . See news releae dated Sept 17 2018) Convertible Debentures : (Held by Credipresto SAPI de CV SOFOM ENR) $1-million (U.S.) convertible secured subordinated debenture at 12 per cent per annum and maturing Jan. 2019. $0.25 per share conversion rate, based on the noon Bank of Canada Canadian-dollar/U.S.-dollar exchange rate on the date immediately preceding the closing of the offering; Secured through a pledge of all of the issued and outstanding share capital of Elipe SA, an indirect wholly owned subsidiary of the company, ranking behind the Vertex loans outstanding; Based on current exchange rates, if the convertible debenture is fully converted into common shares of the company, approximately 5,241,600 common shares of the company would be issuable to Credipresto. $500,000 (U.S.) secured convertible debenture at a rate of 12% per annum payable quarterly in cash and is fully secured through a pledge of all the issued and outstanding share capital of Elipe S.A., an indirect wholly owned subsidiary of the Company, ranking behind the outstanding loans from Vertex Managed Value Portfolio and Vertex Enhanced Income Fund. The principal amount of the Debenture is convertible at any time at the option of the holder into common shares of the Company (the "Common Shares") at a price of CAD$0.25 per Common Share, based on a Canadian dollar/US dollar exchange rate of 1.3322. An aggregate of up to 2,664,400 Common Shares are issuable by the Company on conversion of the Debenture, representing approximately 3.03% of the issued and outstanding Common Shares on completion of the Private Placement. The principal amount of the Debenture is convertible on or before April 3, 2019 at the option of the holder into common shares ++ $500,000 (U.S.) secured convertible debenture bears interest at a rate of 12% per annum payable quarterly in cash and is fully secured through a pledge of all the issued and outstanding share capital of Elipe S.A., an indirect wholly owned subsidiary of the Company, ranking behind the outstanding loans from Vertex Managed Value Portfolio and Vertex Enhanced Income Fund. The principal amount of the Debenture is convertible at any time at the option of the holder into common shares of the Company (the "Common Shares") at a price of CAD$0.26 per Common Share, based on a Canadian dollar/US dollar exchange rate of 1.3516. An aggregate of up to 2,599,231 Common Shares are issuable by the Company on conversion of the Debenture, representing approximately 2.96% of the issued and outstanding Common Shares on completion of the Private Placement. The principal amount of the Debenture is convertible on or before April 25, 2019 at the option of the holder into common shares ++ (In Note 12 of Q2 2018 financial statement, company reported that Credipresto converted approx. US$211,000 into 1,101,000 shares in May and June 2018) Debt Repayment Schedule: Original balance US$10,550,000 on June 1, 2017. Revised May 31, 2018 with remaining balance of US$7,620,000. (Money owed to Government, Employees, Suppliers, Contractors) See details in news release: web.tmxmoney.com During the month of May 2018, the Company amended the payment plan contract (“Amended Payment Plan Contract”) to continue to conduct its mining operations and postpone any actions by the Representative against its assets, provided Elipe funds various outstanding liabilities on the following revised schedule:
Credipresto S.A. de CV SOFOM USD $1,600,000 short term bridge loan The Company is pleased to announce it has entered into an agreement to issue a sechured debenture in the aggregate principal amount of USD $1,600,000 (the "Debenture") to Credipresto S.A. de C.V. SOFOM E.N.R. ("Credipresto"). Credipresto has agreed to roll the Debenture amount into the proposed Investa debt facility. The Debenture will have the following terms: Interest will accrue at a rate of 15% per annum, 6 months maturity (July 31, 2018): 25% principal and accrued interest due on April 30, 2018 25% principal and accrued interest due on May 31, 2018 25% principal and accrued interest due on June 30, 2018 Remaining principal and accrued interest due on July 31, 2018 Proposed Debt Facility With Investa Bank S.A. web.tmxmoney.com Expected to be completed by March 31, 2018, now pending as Elipe SA has been released from receivership, see news release dated September 4 2018 Fully Diluted Shares: 186,064,389 INSIDER HOLDINGS ( Information compiled from Sedi.ca, the 2017 Annual Information Circular, and regulatory filing 62-103F1 on Sept 12, 2016 ) Keith Piggott (CEO) ………..12,201,465 Gregg Sedun (Director)….........286,396 Gregg Sedun Family .............3,281,000 Gregg Sedun's Associate .... 3,281,000 Javier Reyes (+Credipresto)..5,688,360 Mark Bailey (Director) ..............253,712 Total holdings ………….... 24,973,933 common shares Robert Washer (Former CEO and Former Chairman of the Board, >10% shareholder) Cinergy Capital ………….. .9,731,284 Valorium Int’l ……………….5,040,284 Robert Washer Total ….. 14,771,568 common shares Total Insider Holdings … 39,745,501 common shares Shares Issued and Outstanding : 137,620,664 % of insider holdings ----- 28.9% . | ||||||||||||||||||||||||||||||||
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