California Gold Provides Corporate Update and Completes Subordinated Loan Financing

TORONTO, Nov. 06, 2020 (GLOBE NEWSWIRE) — California Gold Mining Inc. (CSE:CGM) (“ California Gold ” or the “ Company ”) is today announcing a strategic review by Special Committee and the completion of a subordinated loan financing.

Special Committee

Following the announcement on September 30, 2020 regarding the appointment of Mr. Scott Rasenberg as Chair of the Board in replacement of Mr. Patrick Cronin and Mr. Larry Phillips as Interim President & CEO, following the termination of Mr. Vishal Gupta, the board of directors (the “ Board ”) and the new management team have concluded an initial review of the Company’s operations and financial position, including an assessment of short term cash requirements for the orderly continuation of the business of the Company.

The Board has created a special committee, comprised of Scott Rasenberg, Larry Phillips and William Tomlinson (the “ Special Committee ”), to carry out a review […]

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