Canadian GoldCamps names new CEO, plans $1M private placement

Canadian GoldCamps Corp. (CSE: CAMP) announced management changes, a private placement financing, and a letter of intent to acquire two Quebec gold projects from Stelmine Canada Ltd. (TSXV: STH).

George Yordanov, a professional geologist with over 15 years of mineral exploration experience, was appointed president and chief executive officer effective December 18, 2025, replacing Mike Taylor, who will remain as a director. Robert Kitchen was named director and chairman of the board.

The company plans to raise up to $1 million through a non-brokered private placement by issuing up to 10 million common shares at $0.10 per share. An initial tranche of up to $100,000 is expected to close in the near term, with proceeds funding payments for the proposed Stelmine agreement. A second tranche of up to $900,000 would provide working capital for the projects.

Canadian GoldCamps entered into a binding letter of intent dated December 18, 2025, with Stelmine for an option agreement to acquire interests in the Mercator and Courcy gold projects in Quebec. Under the proposed structure, the company could earn up to 80% interest in the projects - 10% upon execution of the definitive agreement and an additional 70% upon completing a preliminary economic assessment or pre-feasibility study within six years.

The consideration includes a $100,000 cash payment by December 31, 2025, and equity representing 9.99% of the company's outstanding shares. Milestone payments of $5 million and $15 million would be due upon receiving construction permits and commencing commercial production, respectively.

The projects are subject to net smelter return royalties, with the Mercator Project carrying a 2% NSR and the Courcy Project subject to multiple royalty arrangements. The transaction remains subject to negotiating definitive documentation and regulatory approvals.

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