VANCOUVER, BC, June 22, 2022 /CNW/ – Soma Gold Corp. (TSXV: SOMA) (WKN: A2P4DU) (OTC: SMAGF) (the “Company” or “Soma“) and C. Geoffrey Hampson (“Hampson“) of Vancouver, B.C., announce that Hampson has acquired Shares (the “Shares“) of the Company pursuant to various private transactions.

On January 14, 2022, Hampson acquired 1,620,000 Shares at a price of $0.25 per share for aggregate consideration of $405,000. On May 13, 2022, Hampson acquired ownership and control over 31,667 Shares at a price of $0.31 per share for aggregate consideration of $9,816.77. On May 19, 2022, Hampson acquired ownership and control over 4,000,000 Shares at a price of $0.25 per share for aggregate consideration of $1,000,000. On June 6, 2022, Hampson acquired ownership and control over 2,724,798 Shares at a price of $0.25 per share for aggregate consideration of $681,199.50.

Immediately prior to the acquisitions listed above, Hampson owned and/or had control over an aggregate of 10,736,487 Shares, representing approximately 14% of the issued and outstanding Shares of the Company on an undiluted basis, of which 43,250 Shares were controlled directly, 8,633,529 Shares were controlled through Hampson Equities Ltd., a company controlled by Hampson, and 2,059,708 Shares were controlled through Lake Forest Development Corp., a wholly-owned subsidiary of Hampson Equities Ltd.

Following completion of the acquisitions listed above, Hampson owns and/or has control over an aggregate of 19,112,952 Shares, representing approximately 22.5% of the issued and outstanding Shares of the Company on an undiluted basis, of which 74,917 Shares are controlled directly, 16,978,327 Shares are controlled through Hampson Equities Ltd., a company controlled by Hampson, and 2,059,708 Shares are controlled through Lake Forest Development Corp., a wholly-owned subsidiary of Hampson Equities Ltd.

In addition, Hampson also owns and/or has control over 1,172,000 stock options to purchase Shares. If Hampson exercises all of his options, he would then own and/or have control over, directly or indirectly, 20,284,952 Shares, representing approximately 23.5% of the issued and outstanding Shares of the Company on a partially diluted basis, assuming that no further Shares of the Company have been issued.

The acquisitions described above resulted in an approximate 8.5% change in Hampson’s ownership and/or control over Shares of the Company.

The securities acquired will be held for investment purposes. Hampson may, depending on market and other conditions, increase or decrease his ownership of the Company’s securities, whether in the open market, by privately negotiated agreements or otherwise, subject to a number of factors, including general market conditions and other available investment and business opportunities.

The disclosure respecting Hampson’s shareholdings contained in this press release is made pursuant to Multilateral Instrument 62-104 and a report respecting the above acquisition will be filed with the applicable securities commissions using the Canadian System for Electronic Document Analysis and Retrieval (SEDAR) and will be available for viewing at www.sedar.com.

Soma Gold Corp. (TSXV: SOMA) is a mining company focused on gold production and exploration. The Company owns two adjacent mining properties in Antioquia, Colombia with a combined milling capacity of 675 tpd. (permitted for 1,400 tpd). The El Bagre Mill is currently operating and producing. Internally generated funds are being used to finance a regional exploration program.  

The Company also owns an exploration property near Tucuma, Para State, Brazil that is currently under option to Ero Copper Corp.

On behalf of the Board of Directors

“Javier Cordova Unda”
Chief Executive Officer and President

And

C. Geoffrey Hampson

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

All statements, analysis and other information contained in this press release about anticipated future events or results constitute forward-looking statements. Forward-looking statements are often, but not always, identified by the use of words such as “seek”, “anticipate”, “believe”, “plan”, “estimate”, “expect” and “intend” and statements that an event or result “may”, “will”, “should”, “could” or “might” occur or be achieved and other similar expressions. Forward-looking statements are subject to business and economic risks and uncertainties and other factors that could cause actual results of operations to differ materially from those contained in the forward-looking statements. Forward-looking statements are based on estimates and opinions of management at the date the statements are made. The Company does not undertake any obligation to update forward-looking statements even if circumstances or management’s estimates or opinions should change except as required by applicable laws. Investors should not place undue reliance on forward-looking statements.

SOURCE Soma Gold Corp.