Caldas Gold Corp. (TSXV:CGC) has entered into a definitive agreement to acquire South American Resources Corp for CAD 37 million on May 20, 2020. As part of the consideration, Caldas Gold will issue twenty million common shares of the company (the “Consideration Shares”) to current shareholders of SARC. Certain shareholders of SARC have entered into voluntary lock-up agreements with SARC pursuant to which such security holders, holding approximately 87% of the consideration shares, have agreed to voluntarily lock-up their consideration shares for a period of two years from the closing date of the transaction. On closing Caldas and South American Resources shall amalgamate and continue as a once corporation. It is anticipated that Gran Colombia Gold Corp. will complete a private placement with Caldas Gold prior to the closing of the Transaction to fund the completion of the Juby Acquisition and the Knight JV Acquisition. As of June 25, 2020, the first amendment agreement was signed. The closing of the transaction is subject to customary closing conditions for a transaction of this nature including, among other things, the listing of the consideration shares on the TSX Venture Exchange, South American Resources shareholders approval and TSXV approval. The transaction has been unanimously approved by each of the boards of directors of Caldas Gold and SARC and is expected to occur on or about June 15, 2020. The transaction is expected to close on July 2, 2020. Farris LLP acted as a legal advisor to South American Resources and Perry Dellelce, Peter Volk, Ragu Anantharajah, Jessica Coco, Kassidy Doherty, Tommy Sorbara, Richard Lewin and Marija Tasevska of Wildeboer Dellelce LLP acted as a legal advisor to Caldas Gold. Caldas Gold Corp. (TSXV:CGC) completed the acquisition of South American Resources Corp on July 2, 2020. The listing of the consideration shares on the TSX Venture Exchange (“TSX-V”) has accepted for filing documentation.