KORE Mining Ltd. (TSXV:KORE) and Karus Gold Corp. announced that they have closed the plan of arrangement previously announced on December 16, 2020, pursuant to which KORE has spun-out its Canadian assets to Karus Gold effective as of 12:01 a.m. (Vancouver time) (the "Effective Time") on January 25, 2021 (the "Effective Date"). Mr. Trebilcock continued, "Karus Gold will now raise seed capital in a rights offering. This is a rare opportunity for shareholders to access seed round financing usually reserved for industry insiders. Karus Gold then plans to list its shares on the TSX Venture Exchange later in the first half of 2021, subject to regulatory approvals".