Columbus Closes First Tranche of Private Placement with Sandstorm

VANCOUVER, Oct. 25, 2019 /PRNewswire/ – Columbus Gold Corp. (CGT: TSX, CBGDF: OTCQX) (“Columbus”) is pleased to announce that it has closed the first tranche of its previously announced private placement (see news release dated October 21, 2019), fully subscribed by Sandstorm Gold Ltd. (SSL: TSX) (“Sandstorm“), raising gross proceeds of CAD$1,250,000 through the issuance of 7,812,500 common shares of Columbus (each a “Share“) at a price of CAD$0.16 per Share and granting to Sandstorm a 0.5% net smelter returns royalty from Columbus’ ownership interest on gold production from the Maripa gold project in French Guiana, if and when Columbus earns its interest in the project, and increasing up to 1% depending on Columbus’ interest in the project. No finders’ fees have been paid in connection with this private placement.