Vancouver, BC – September 3, 2020, Ethos Gold Corp. (“Ethos” or the “Company”) (TSXV:ECC) (OTCQB: ETHOF) is pleased to announce that it has closed its previously announced non-brokered private placements (collectively the “Private Placements”) for gross proceeds to the company of $4,360,000.

The Private Placements consisted of the following:

• a private placement of 10,000,000 units priced at $0.14 per unit for gross proceeds of $1,400,000.  Each unit is comprised of one common share, and one half of one common share purchase warrant.  Each whole warrant is exercisable into one common share of the Company at an exercise price of $0.20 until September 3, 2022.  The common share purchase warrants will be subject to acceleration at the Company’s discretion in the event its common shares trade on the TSX Venture Exchange on a volume weighted average price (“VWAP”) basis of C$0.40 or more for a period of ten consecutive trading days. Proceeds of this offering will be utilized on the Company’s Iron Point project in Nevada and for general working capital.
• an Ontario flow through private placement of 2,000,000 flow through units priced at $0.16 per unit for gross proceeds of $320,000.  Each unit is comprised of one flow through share, and one half of one non-flow through common share purchase warrant.  Each whole warrant is exercisable into one common share of the Company at an exercise price of $0.22 until September 3, 2022.  The common share purchase warrants will be subject to acceleration at the Company’s discretion in the event its common shares trade on the TSX Venture Exchange on a volume weighted average price (“VWAP”) basis of C$0.40 or more for a period of ten consecutive trading days. Proceeds of this offering will be utilized on the Company’s Fuchsite Lake Gold Project in Ontario or on eligible flow through expenditures on other Ontario projects.
• a British Columbia charity flow through private placement of 3,000,000 flow through units priced at $0.18 per unit for gross proceeds of $540,000.  Each unit is comprised of one flow through share, and one half of one non-flow through common share purchase warrant.  Each whole warrant will be exercisable into one common share of the Company at an exercise price of $0.24 until September 3, 2022.  The common share purchase warrants will be subject to acceleration at the Company’s discretion in the event its common shares trade on the TSX Venture Exchange on a volume weighted average price (“VWAP”) basis of C$0.40 or more for a period of ten consecutive trading days. Proceeds of this offering will be utilized on the Company’s Perk Rocky copper-gold porphyry project in British Columbia or on eligible flow through expenditures on other British Columbia projects.
• a private placement of 10,000,002 units priced at $0.21 per unit for gross proceeds of $2,100,000.  Each unit is comprised of one common share, and one half of one common share purchase warrant.  Each whole warrant is exercisable into one common share of the Company at an exercise price of $0.28 until September 3, 2022.  The common share purchase warrants will be subject to acceleration at the Company’s discretion in the event its common shares trade on the TSX Venture Exchange on a volume weighted average price (“VWAP”) basis of C$0.55 or more for a period of ten consecutive trading days. Proceeds of this offering will be utilized on the Company’s Iron Point project in Nevada and for general working capital.

The Private Placements are subject to the final acceptance of the TSX Venture Exchange, and all securities issued or issuable under the Private Placements will be subject to a 4-month hold period expiring on January 4, 2021.  The Company paid aggregate cash Finders fees of $39,338.18 and issued 226,300 Finders Warrants in connection with the Private Placements. 116,925 Finder’s Warrants entitle the holders to acquire one common share of the Company at $0.20 per share and 109,375 Finder’s Warrant entitle the holders to acquire one common share of the Company at $0.28 per share until September 3, 2022.

Contact

For additional information please contact Tom Martin at E: tmartin@ethosgold.com P: 1-250-516-2455 or view the Company’s website, www.ethosgold.com .and the Company’s sedar profile at www.sedar.com.